As part of President Obama's recent visit to Mexico, Enrique Peña Nieto President announced three priority issues in the bilateral relationship: a working group to support entrepreneurs; initiatives to strengthen border cooperation; and expanding educational exchanges.

One of the first topics to gain momentum is to support entrepreneurs: recognizing the various joint activities related to entrepreneurship and innovation already underway in the United States and Mexico and desiring to further promote their cooperation on issues vital to the promotion of innovative entrepreneurship, today both countries sign this Statement of Intent.

Mexico and the United States established the Council on Entrepreneurship and Innovation, which aims to coordinate and collaborate on strategies to develop the ecosystem of entrepreneurship and innovation for entrepreneurs and companies from both countries. The creation of this Council will be formalized through the signing of the statement of intent, today May 9, between Lorraine J. Hariton, Special Representative and Coordinator for Commercial and Business Affairs, Department of State of the Government of the United States of America, and Ms. Adriana Tortajada, Director General of Programs and Financing Entrepreneurs for the Entrepreneur Institute at the premises of the Secretariat of the Economy.

This statement of intent lays the foundation for Mexico to become the first Latin American country in the Global Entrepreneurship Program, an initiative of the U.S. government that promotes entrepreneurship through programs that empower entrepreneurs around the world, as they represent an important opportunity for economic development and job creation in emerging markets.

Moreover, the Binational Council will serve as a space for dialogue for the development of a work plan that will integrate programs and specific activities in which the two countries will work together to trigger growth of entrepreneurs and companies.

The areas under the work plan include:

• A legal framework that encourages innovative entrepreneurship,
• The promotion of entrepreneurship led by women,
• The participation and collaboration of the Diaspora Latin American entrepreneurs,
• The promotion and integration of the infrastructure supporting the entrepreneurs and Small and Medium Enterprises,
• The exchange of expertise and best practices in the development of regional innovation clusters,
• The exchange of expertise and best practices in marketing chains and
• The sharing of tools and best practices on financing and promoting innovative entrepreneurship and high impact.

To achieve its objective, the Council will consist of a broad range of participants in the entrepreneurial ecosystem both from Mexico and the United States, including representatives from government, academia, business, NGOs and venture capital funds, among others.

Mexican Government agencies on the Council include: the INADEM and the Secretariat of Industry and Commerce, both of the Ministry of Economy, the National Council of Science and Technology (CONACYT), the Centre for Research and Advanced Studies (CINVESTAV), the Mexican Institute of Industrial Property (IMPI) and the Ministry of Foreign Affairs. From the U.S. Government, the Council includes: the State Department, the Department of Commerce, the SBA (Small Business Administration), OPIC (Overseas Private Investment Corporation), USAID (United States Agency for International Development) and USTDA (United States Trade and Development Agency).

From the private sector, the Council includes: Wayra, Latin Idea Ventures, Amexcap, IBM, Ernst & Young, Fundación E, Venture Partners, Startup Weekend, Angel Ventures México, New Ventures, Plataforma Tecnológica Mexicana, WEConnect, Venture Partners, Crowdfunder México, Endeavor, Impulsa México, TechBA – Fumec, el Instituto Tecnológico de Estudios Superiores de Monterrey (ITESM), Alta Ventures and 500 Startups, The National Business Incubators Association, and Omidyar. Several academic institutions including , the University of Texas at both San Antonio and Austin, The University of California at Berkeley, the University of Arizona and the Tec de Monterrey.