White House Announces Global Technology and Innovation Fund

Note: The following text is a quote:

http://www.opic.gov/investment-funds/calls-for-proposals/global-technology-innovation-fund/

Global Technology and Innovation Fund
Investment Funds
Overview
Funds Description
How Funds Work
Participating Funds
Proposals & Submissions
Global Technology and Innovation Fund
Forms
Call for Proposals
Overview
Questionnaire
Supplemental Information
FAQs
Appendix 1 - Tabs A, B, C
Submit a Question/Comment
Register a Proposal

The Overseas Private Investment Corporation (”OPIC”) is inviting proposals from qualified private equity fund managers for the formation and management of one or more investment funds (“funds”) that plan to invest in a wide variety of companies or projects that provide access to technologies in the OPIC-eligible countries. OPIC will provide financing ranging between $25 million and $150 million in total capital for each selected fund.

OPIC has engaged Altius Associates Ltd. (“Altius”), an independent advisor to institutional investors, to assist in evaluating proposals received in response to this Call for Proposals (“Call”).

Purpose of Call
OPIC seeks to finance one or more selected funds to facilitate the investment of risk capital in new businesses and/or the expansion of existing companies that will take advantage of the transfer, adaptation and commercialization of existing technologies in OPIC-eligible countries.

Fund Investment Focus
OPIC seeks to provide financing to private equity funds that seek capital appreciation by investing in companies that will promote the access to and growth of technology. Technology is broadly defined to allow for a wide range of market based strategies, and could encompass but is not limited to sectors such as IT, healthcare, education, infrastructure, telecom, media, business and financial services and clean-tech. Examples of financed projects could include the following: strategies that helped to foster the development and use of new technologies such as computer, information, media and telecommunications businesses, or provision of broadband access; strategies that focus on the implementation of existing technologies to create new efficiencies; health sector strategies that focus on companies in medical, pharmaceutical, and other biotechnology areas; investment in technology and telecom infrastructure, energy efficiency and smart-grid technologies; strategies that promote the adoption of technology and new media for applications in education, and business and financial services; or technologies that might address other environmental and social problems, such as shortages of clean water. The funds will be privately owned and privately managed. The specific investment strategy would be determined based on proposals submitted by qualified fund managers.

Fund Geographic Focus
Funds may be country or regionally oriented and will use OPIC funds to invest in OPIC-eligible countries. Regions of particular interest include the broader Middle East and North Africa, Central and South Asia, and Southeast Asia (the “Targeted Regions”). It is expected that some funds may also invest in other OPIC-eligible countries where such investment would provide desirable diversification to ensure that OPIC can attract the widest range and best qualified managers active in these markets and in the technology area.

Fund Capitalization
OPIC will consider providing up to $150 million in capital to one or more selected managers, for financing that will generally represent no more than 33% of a fund’s total capitalization. In certain cases, for example funds that OPIC deems to be highly developmental, OPIC can consider providing up to 50% of a fund’s total capitalization. OPIC’s financing will be provided in the form of senior indebtedness loaned or guaranteed by OPIC (see FAQs for more detail). The balance of each selected fund’s capital would be equity raised from private or institutional investors, international financial institutions, and other interested parties.

OPIC Selection Process
The selection process under this Call will be as follows:

Non-Qualifying Proposals: With Altius’ assistance, OPIC will evaluate each proposal to determine if it meets OPIC’s objectives and the Selection Criteria set forth in the Call. All non-qualifying proposals will be rejected at this time and the proposing firms so notified.
Selection of Finalists: OPIC, assisted by Altius, will evaluate the remaining proposals. Based on the Selection Criteria set forth below, OPIC will select finalists for further consideration. Finalists will be notified promptly by OPIC, will be invited to a due diligence interview with OPIC in Washington, D.C., and will be expected to be available for on-site due diligence visits by OPIC and Altius shortly thereafter.
Recommendations: Upon the completion of due diligence, should OPIC determine to do so, one or more funds may be recommended to the OPIC Investment Committee and the OPIC Board of Directors. OPIC reserves the right not to recommend any of the finalists.
OPIC Selection Criteria
In assessing proposals, OPIC will consider, among other things, the following criteria with respect to each proposal:

the credibility and thoughtfulness of the proposal, and the consistency and clarity of the fund manager’s investment strategy and proposed exit strategies;
the track record of the prospective fund management team in making long-term risk capital investments in emerging markets, and its in-country or regional experience;
the experience, depth, stability and cohesiveness of the fund management team;
the fund manager’s understanding of target markets in their designated country or region, and their level of commitment to invest in sectors and geographies set forth in the Fund Investment Focus and Fund Geographic Focus;
the competitive position of the fund manager, including deal sourcing, value addition, reputation, and capital market access;
the ability of the fund manager to raise sufficient capital to close the proposed fund within a reasonable time;
the fund manager’s experience as a fiduciary in managing institutional capital, meeting reporting requirements, and administering a fund;
the fund manager’s experience in the target sector(s) and the manager’s experience investing in companies that will promote the access to and growth of technology;
the proposed fund’s developmental and economic impact in its target countries and/or region; and
the terms and conditions of the proposed OPIC financing, including the leverage ratio sought.
OPIC may make its determination with respect to any proposal based solely on the written submission.

Minimum Requirements
Each proposal must provide substantially all of the information requested in the Questionnaire accompanying the Call.

Additional Information from OPIC
Periodically, OPIC may post additional information on its Internet website in the form of Supplements to the Call. Any information so designated on OPIC’s website may supplement or modify, and will be considered a part of, the information set forth in the Call.

Confidentiality
OPIC maintains strict confidentiality with respect to all business confidential information. OPIC will not, however, treat as confidential or proprietary general ideas and concepts contained within any proposal.

Deadline for Proposals
Proposals must be submitted both in written form and electronically by 5:00 P.M., Eastern Standard Time, on November 30th, 2009.

OPIC reserves the right, in its sole discretion: (1) not to consider any proposal submitted after the deadline, and (2) to extend the deadline.

OPIC anticipates that it will evaluate promptly all proposals received and requires Call finalists to be available to visit OPIC in Washington D.C. between January 11th and January 15th, 2010, and to receive an on-site due diligence team from OPIC and Altius during the period of February 1st to February 12th, 2010. For more detail with respect to the proposed schedule please see the Fund Manager Selection Process Timeline at the end of this document.

How to Submit a Proposal
To submit a proposal, you must complete the following three steps:

Proceed to the Submit Proposals link located on the website. Complete the required and optional information on the Registration Form. Click the “Submit” button to transmit your information to OPIC.
Send fifteen (15) printed copies of the proposal and one (1) electronic copy of all files on a CD or DVD: Overseas Private Investment Corporation, Investment Funds Department, 1100 New York Avenue, NW, Washington, DC, 20527, Attn: Global Technology and Innovation Fund. These must be received by OPIC by 5:00 P.M., Eastern Standard Time, November 30, 2009.
Please submit one (1) electronic and two (2) printed copies to Pawan Chaturvedi, Altius Associates, 6641 W Broad Street, Suite 402, Richmond, VA 23230, and via e-mail to OPIC@altius-associates.com by 5:00 P.M. Eastern Standard Time, November 30, 2009.
Supplementing Proposals
Proposals submitted may be supplemented at any time up to the deadline for submission of proposals.

Information on OPIC’s Funds
To obtain a description of the OPIC Investment Funds Program, please visit OPIC’s Investment Funds website (www.opic.gov).

Questions Relating to this Call
All questions concerning the Call must be received by OPIC by 3:00 p.m. EST on November 23, 2009 (the “Inquiry Deadline”) using the Submit Comment/Questions form on this web site. Questions received in accordance with this section will be answered and posted to the Supplemental Information page. As all applicants will be able to view the questions and answers, applicants should be cognizant of divulging proprietary information in their questions. Questions submitted after the Inquiry Deadline will not be considered.

Incurring Costs
OPIC will not be liable for any costs incurred in connection with the submission of a proposal.

Rejection of Proposals
OPIC reserves the right not to select any of the proposals and to re-initiate the Call, or to suggest that proposals be supplemented or combined with other proposals without reinitiating the selection process. The issuance of the Call does not obligate OPIC to provide support to any proposal or any selected fund.

NOTICE: This is a United States Government computer system, and is provided only for authorized use. It may be monitored for all lawful purposes, including for management of the system and for protection against unauthorized access. During monitoring, information may be examined, recorded, copied, and used for authorized purposes. All information, including personal information, placed on or sent over this system may be monitored. Use of this system, authorized or unauthorized, constitutes consent to such monitoring. Unauthorized access or use may subject you to criminal prosecution. Evidence of unauthorized use collected during monitoring may be used for administrative, criminal or other adverse action. Use of this system constitutes consent to monitoring for these purposes.

GLOBAL TECHNOLOGY AND INNOVATION FUND
Fund Manager Selection Process Timeline

Step in Process Timing
Call for Proposals issued October 20, 2009
Last day for managers to ask questions about the Call for Proposals November 23, 2009
Proposals due from prospective groups November 30, 2009
OPIC meetings with finalists in Washington, D.C. January 11-15, 2010
Due diligence site visits completed on finalists February 1-12, 2010
Detailed due diligence analysis completed on finalists March, 2010
Final selection June, 2010

OPIC supports U.S. investment in emerging markets worldwide, fostering development & the growth of free markets.

ON THE INTERNET:

http://www.opic.gov/doing-business/accountability
http://www.opic.gov/doing-business/investment
http://www.opic.gov/publications/foia

SNIPPET from post no. 1:

"During his speech in Cairo on June 4, the President announced that the United States would "launch a new fund to support technological development in Muslim-majority countries." As the latest step in delivering on this commitment, the Overseas Private Investment Corporation announced this week a call for proposals for a Global Technology and Innovation Fund."

Millions and millions and millions and millions...

And this is benefitting the U.S. exactly how?

If the last real president, George W. Bush had announced that the United States would “launch a new fund to support technological development in Christian-majority countries,” the anti-freedom liberals would have hit the roof and rightly so. Why is it better and more PC to support the Religion of Peace than to support Christianity?

During his speech in Cairo on June 4, the President announced that the United States would "launch a new fund to support technological development in Muslim-majority countries."

Muslim-majority countries.

WTF ?!?

I said before that 0bama is not concerned with being elected to a second term.

Previously...

Quote:

http://www.whitehouse.gov/the_press_office/Remarks-by-President-Obama-and-President-Hosni-Mubarak-of-Egypt-before-Bilateral-Meeting-6-4-09/

THE BRIEFING ROOM

THE WHITE HOUSE

Office of the Press Secretary
(Cairo, Egypt)

____________________________________________
FOR IMMEDIATE RELEASE June 4, 2009

REMARKS BY PRESIDENT OBAMA
AND PRESIDENT HOSNI MUBARAK OF EGYPT
BEFORE BILATERAL MEETING

Quba Palace
Cairo, Egypt

10:29 A.M. (Local)

PRESIDENT MUBARAK: (As translated.) I’d like to welcome President Obama to Egypt. This is his first — our first meeting together. We discussed so many issues — the Middle East issues — interests in the region. We also discussed all problems here in the region, the situation and everything related to Iran and to the region.

I repeat welcoming Mr. Obama. We discussed everything candidly and frankly, without any reservation. But there are other meetings that will take place later either in the United States of America or anywhere else.

Thank you very much.

PRESIDENT OBAMA: Well, I just want to thank President Mubarak, as well as the people of Egypt, for their wonderful hospitality. I’m very much looking forward to speaking at the university this afternoon. I wanted to first sit down with President Mubarak, who obviously has decades of experience on a whole range of issues.

As the President has indicated, we discussed the situation with Israel and the Palestinians. We discussed how we can move forward in a constructive way that brings about peace and prosperity for all people in the region. And I emphasized to him that America is committed to working in partnership with the countries in the region so that all people can meet their aspirations.

And I’m very much looking forward in the months and years to come to continuing to consult with the President. And I’ve communicated to him and I want to communicate to the Egyptian people our greetings from America.

Thank you.

END 10:32 A.M. (Local)

###

Previously...

Quote:

http://www.whitehouse.gov/the_press_office/Remarks-by-the-President-at-Cairo-University-6-04-09/

THE BRIEFING ROOM

THE WHITE HOUSE

Office of the Press Secretary
(Cairo,Egypt)

________________________________________________
FOR IMMEDIATE RELEASE June 4, 2009

REMARKS BY THE PRESIDENT
ON A NEW BEGINNING

Cairo University
Cairo, Egypt

1:10 P.M. (Local)

PRESIDENT OBAMA: Thank you very much. Good afternoon. I am honored to be in the timeless city of Cairo, and to be hosted by two remarkable institutions. For over a thousand years, Al-Azhar has stood as a beacon of Islamic learning; and for over a century, Cairo University has been a source of Egypt’s advancement. And together, you represent the harmony between tradition and progress. I’m grateful for your hospitality, and the hospitality of the people of Egypt. And I’m also proud to carry with me the goodwill of the American people, and a greeting of peace from Muslim communities in my country: Assalaamu alaykum. (Applause.)

We meet at a time of great tension between the United States and Muslims around the world — tension rooted in historical forces that go beyond any current policy debate. The relationship between Islam and the West includes centuries of coexistence and cooperation, but also conflict and religious wars. More recently, tension has been fed by colonialism that denied rights and opportunities to many Muslims, and a Cold War in which Muslim-majority countries were too often treated as proxies without regard to their own aspirations. Moreover, the sweeping change brought by modernity and globalization led many Muslims to view the West as hostile to the traditions of Islam.

Violent extremists have exploited these tensions in a small but potent minority of Muslims. The attacks of September 11, 2001 and the continued efforts of these extremists to engage in violence against civilians has led some in my country to view Islam as inevitably hostile not only to America and Western countries, but also to human rights. All this has bred more fear and more mistrust.

So long as our relationship is defined by our differences, we will empower those who sow hatred rather than peace, those who promote conflict rather than the cooperation that can help all of our people achieve justice and prosperity. And this cycle of suspicion and discord must end.

I’ve come here to Cairo to seek a new beginning between the United States and Muslims around the world, one based on mutual interest and mutual respect, and one based upon the truth that America and Islam are not exclusive and need not be in competition. Instead, they overlap, and share common principles — principles of justice and progress; tolerance and the dignity of all human beings.

I do so recognizing that change cannot happen overnight. I know there’s been a lot of publicity about this speech, but no single speech can eradicate years of mistrust, nor can I answer in the time that I have this afternoon all the complex questions that brought us to this point. But I am convinced that in order to move forward, we must say openly to each other the things we hold in our hearts and that too often are said only behind closed doors. There must be a sustained effort to listen to each other; to learn from each other; to respect one another; and to seek common ground. As the Holy Koran tells us, “Be conscious of God and speak always the truth.” (Applause.) That is what I will try to do today — to speak the truth as best I can, humbled by the task before us, and firm in my belief that the interests we share as human beings are far more powerful than the forces that drive us apart.

Now part of this conviction is rooted in my own experience. I’m a Christian, but my father came from a Kenyan family that includes generations of Muslims. As a boy, I spent several years in Indonesia and heard the call of the azaan at the break of dawn and at the fall of dusk. As a young man, I worked in Chicago communities where many found dignity and peace in their Muslim faith.

As a student of history, I also know civilization’s debt to Islam. It was Islam — at places like Al-Azhar — that carried the light of learning through so many centuries, paving the way for Europe’s Renaissance and Enlightenment. It was innovation in Muslim communities — (applause) — it was innovation in Muslim communities that developed the order of algebra; our magnetic compass and tools of navigation; our mastery of pens and printing; our understanding of how disease spreads and how it can be healed. Islamic culture has given us majestic arches and soaring spires; timeless poetry and cherished music; elegant calligraphy and places of peaceful contemplation. And throughout history, Islam has demonstrated through words and deeds the possibilities of religious tolerance and racial equality. (Applause.)

I also know that Islam has always been a part of America’s story. The first nation to recognize my country was Morocco. In signing the Treaty of Tripoli in 1796, our second President, John Adams, wrote, “The United States has in itself no character of enmity against the laws, religion or tranquility of Muslims.” And since our founding, American Muslims have enriched the United States. They have fought in our wars, they have served in our government, they have stood for civil rights, they have started businesses, they have taught at our universities, they’ve excelled in our sports arenas, they’ve won Nobel Prizes, built our tallest building, and lit the Olympic Torch. And when the first Muslim American was recently elected to Congress, he took the oath to defend our Constitution using the same Holy Koran that one of our Founding Fathers — Thomas Jefferson — kept in his personal library. (Applause.)

So I have known Islam on three continents before coming to the region where it was first revealed. That experience guides my conviction that partnership between America and Islam must be based on what Islam is, not what it isn’t. And I consider it part of my responsibility as President of the United States to fight against negative stereotypes of Islam wherever they appear. (Applause.)

But that same principle must apply to Muslim perceptions of America. (Applause.) Just as Muslims do not fit a crude stereotype, America is not the crude stereotype of a self-interested empire. The United States has been one of the greatest sources of progress that the world has ever known. We were born out of revolution against an empire. We were founded upon the ideal that all are created equal, and we have shed blood and struggled for centuries to give meaning to those words — within our borders, and around the world. We are shaped by every culture, drawn from every end of the Earth, and dedicated to a simple concept: E pluribus unum — “Out of many, one.”

Now, much has been made of the fact that an African American with the name Barack Hussein Obama could be elected President. (Applause.) But my personal story is not so unique. The dream of opportunity for all people has not come true for everyone in America, but its promise exists for all who come to our shores — and that includes nearly 7 million American Muslims in our country today who, by the way, enjoy incomes and educational levels that are higher than the American average. (Applause.)

Moreover, freedom in America is indivisible from the freedom to practice one’s religion. That is why there is a mosque in every state in our union, and over 1,200 mosques within our borders. That’s why the United States government has gone to court to protect the right of women and girls to wear the hijab and to punish those who would deny it. (Applause.)

So let there be no doubt: Islam is a part of America. And I believe that America holds within her the truth that regardless of race, religion, or station in life, all of us share common aspirations — to live in peace and security; to get an education and to work with dignity; to love our families, our communities, and our God. These things we share. This is the hope of all humanity.

Of course, recognizing our common humanity is only the beginning of our task. Words alone cannot meet the needs of our people. These needs will be met only if we act boldly in the years ahead; and if we understand that the challenges we face are shared, and our failure to meet them will hurt us all.

For we have learned from recent experience that when a financial system weakens in one country, prosperity is hurt everywhere. When a new flu infects one human being, all are at risk. When one nation pursues a nuclear weapon, the risk of nuclear attack rises for all nations. When violent extremists operate in one stretch of mountains, people are endangered across an ocean. When innocents in Bosnia and Darfur are slaughtered, that is a stain on our collective conscience. (Applause.) That is what it means to share this world in the 21st century. That is the responsibility we have to one another as human beings.

And this is a difficult responsibility to embrace. For human history has often been a record of nations and tribes — and, yes, religions — subjugating one another in pursuit of their own interests. Yet in this new age, such attitudes are self-defeating. Given our interdependence, any world order that elevates one nation or group of people over another will inevitably fail. So whatever we think of the past, we must not be prisoners to it. Our problems must be dealt with through partnership; our progress must be shared. (Applause.)

Now, that does not mean we should ignore sources of tension. Indeed, it suggests the opposite: We must face these tensions squarely. And so in that spirit, let me speak as clearly and as plainly as I can about some specific issues that I believe we must finally confront together.

The first issue that we have to confront is violent extremism in all of its forms.

In Ankara, I made clear that America is not — and never will be — at war with Islam. (Applause.) We will, however, relentlessly confront violent extremists who pose a grave threat to our security — because we reject the same thing that people of all faiths reject: the killing of innocent men, women, and children. And it is my first duty as President to protect the American people.

The situation in Afghanistan demonstrates America’s goals, and our need to work together. Over seven years ago, the United States pursued al Qaeda and the Taliban with broad international support. We did not go by choice; we went because of necessity. I’m aware that there’s still some who would question or even justify the events of 9/11. But let us be clear: Al Qaeda killed nearly 3,000 people on that day. The victims were innocent men, women and children from America and many other nations who had done nothing to harm anybody. And yet al Qaeda chose to ruthlessly murder these people, claimed credit for the attack, and even now states their determination to kill on a massive scale. They have affiliates in many countries and are trying to expand their reach. These are not opinions to be debated; these are facts to be dealt with.

Now, make no mistake: We do not want to keep our troops in Afghanistan. We see no military — we seek no military bases there. It is agonizing for America to lose our young men and women. It is costly and politically difficult to continue this conflict. We would gladly bring every single one of our troops home if we could be confident that there were not violent extremists in Afghanistan and now Pakistan determined to kill as many Americans as they possibly can. But that is not yet the case.

And that’s why we’re partnering with a coalition of 46 countries. And despite the costs involved, America’s commitment will not weaken. Indeed, none of us should tolerate these extremists. They have killed in many countries. They have killed people of different faiths — but more than any other, they have killed Muslims. Their actions are irreconcilable with the rights of human beings, the progress of nations, and with Islam. The Holy Koran teaches that whoever kills an innocent is as — it is as if he has killed all mankind. (Applause.) And the Holy Koran also says whoever saves a person, it is as if he has saved all mankind. (Applause.) The enduring faith of over a billion people is so much bigger than the narrow hatred of a few. Islam is not part of the problem in combating violent extremism — it is an important part of promoting peace.

Now, we also know that military power alone is not going to solve the problems in Afghanistan and Pakistan. That’s why we plan to invest $1.5 billion each year over the next five years to partner with Pakistanis to build schools and hospitals, roads and businesses, and hundreds of millions to help those who’ve been displaced. That’s why we are providing more than $2.8 billion to help Afghans develop their economy and deliver services that people depend on.

Let me also address the issue of Iraq. Unlike Afghanistan, Iraq was a war of choice that provoked strong differences in my country and around the world. Although I believe that the Iraqi people are ultimately better off without the tyranny of Saddam Hussein, I also believe that events in Iraq have reminded America of the need to use diplomacy and build international consensus to resolve our problems whenever possible. (Applause.) Indeed, we can recall the words of Thomas Jefferson, who said: “I hope that our wisdom will grow with our power, and teach us that the less we use our power the greater it will be.”

Today, America has a dual responsibility: to help Iraq forge a better future — and to leave Iraq to Iraqis. And I have made it clear to the Iraqi people — (applause) — I have made it clear to the Iraqi people that we pursue no bases, and no claim on their territory or resources. Iraq’s sovereignty is its own. And that’s why I ordered the removal of our combat brigades by next August. That is why we will honor our agreement with Iraq’s democratically elected government to remove combat troops from Iraqi cities by July, and to remove all of our troops from Iraq by 2012. (Applause.) We will help Iraq train its security forces and develop its economy. But we will support a secure and united Iraq as a partner, and never as a patron.

And finally, just as America can never tolerate violence by extremists, we must never alter or forget our principles. Nine-eleven was an enormous trauma to our country. The fear and anger that it provoked was understandable, but in some cases, it led us to act contrary to our traditions and our ideals. We are taking concrete actions to change course. I have unequivocally prohibited the use of torture by the United States, and I have ordered the prison at Guantanamo Bay closed by early next year. (Applause.)

So America will defend itself, respectful of the sovereignty of nations and the rule of law. And we will do so in partnership with Muslim communities which are also threatened. The sooner the extremists are isolated and unwelcome in Muslim communities, the sooner we will all be safer.

The second major source of tension that we need to discuss is the situation between Israelis, Palestinians and the Arab world.

America’s strong bonds with Israel are well known. This bond is unbreakable. It is based upon cultural and historical ties, and the recognition that the aspiration for a Jewish homeland is rooted in a tragic history that cannot be denied.

Around the world, the Jewish people were persecuted for centuries, and anti-Semitism in Europe culminated in an unprecedented Holocaust. Tomorrow, I will visit Buchenwald, which was part of a network of camps where Jews were enslaved, tortured, shot and gassed to death by the Third Reich. Six million Jews were killed — more than the entire Jewish population of Israel today. Denying that fact is baseless, it is ignorant, and it is hateful. Threatening Israel with destruction — or repeating vile stereotypes about Jews — is deeply wrong, and only serves to evoke in the minds of Israelis this most painful of memories while preventing the peace that the people of this region deserve.

On the other hand, it is also undeniable that the Palestinian people — Muslims and Christians — have suffered in pursuit of a homeland. For more than 60 years they’ve endured the pain of dislocation. Many wait in refugee camps in the West Bank, Gaza, and neighboring lands for a life of peace and security that they have never been able to lead. They endure the daily humiliations — large and small — that come with occupation. So let there be no doubt: The situation for the Palestinian people is intolerable. And America will not turn our backs on the legitimate Palestinian aspiration for dignity, opportunity, and a state of their own. (Applause.)

For decades then, there has been a stalemate: two peoples with legitimate aspirations, each with a painful history that makes compromise elusive. It’s easy to point fingers — for Palestinians to point to the displacement brought about by Israel’s founding, and for Israelis to point to the constant hostility and attacks throughout its history from within its borders as well as beyond. But if we see this conflict only from one side or the other, then we will be blind to the truth: The only resolution is for the aspirations of both sides to be met through two states, where Israelis and Palestinians each live in peace and security. (Applause.)

That is in Israel’s interest, Palestine’s interest, America’s interest, and the world’s interest. And that is why I intend to personally pursue this outcome with all the patience and dedication that the task requires. (Applause.) The obligations — the obligations that the parties have agreed to under the road map are clear. For peace to come, it is time for them — and all of us — to live up to our responsibilities.

Palestinians must abandon violence. Resistance through violence and killing is wrong and it does not succeed. For centuries, black people in America suffered the lash of the whip as slaves and the humiliation of segregation. But it was not violence that won full and equal rights. It was a peaceful and determined insistence upon the ideals at the center of America’s founding. This same story can be told by people from South Africa to South Asia; from Eastern Europe to Indonesia. It’s a story with a simple truth: that violence is a dead end. It is a sign neither of courage nor power to shoot rockets at sleeping children, or to blow up old women on a bus. That’s not how moral authority is claimed; that’s how it is surrendered.

Now is the time for Palestinians to focus on what they can build. The Palestinian Authority must develop its capacity to govern, with institutions that serve the needs of its people. Hamas does have support among some Palestinians, but they also have to recognize they have responsibilities. To play a role in fulfilling Palestinian aspirations, to unify the Palestinian people, Hamas must put an end to violence, recognize past agreements, recognize Israel’s right to exist.

At the same time, Israelis must acknowledge that just as Israel’s right to exist cannot be denied, neither can Palestine’s. The United States does not accept the legitimacy of continued Israeli settlements. (Applause.) This construction violates previous agreements and undermines efforts to achieve peace. It is time for these settlements to stop. (Applause.)

And Israel must also live up to its obligation to ensure that Palestinians can live and work and develop their society. Just as it devastates Palestinian families, the continuing humanitarian crisis in Gaza does not serve Israel’s security; neither does the continuing lack of opportunity in the West Bank. Progress in the daily lives of the Palestinian people must be a critical part of a road to peace, and Israel must take concrete steps to enable such progress.

And finally, the Arab states must recognize that the Arab Peace Initiative was an important beginning, but not the end of their responsibilities. The Arab-Israeli conflict should no longer be used to distract the people of Arab nations from other problems. Instead, it must be a cause for action to help the Palestinian people develop the institutions that will sustain their state, to recognize Israel’s legitimacy, and to choose progress over a self-defeating focus on the past.

America will align our policies with those who pursue peace, and we will say in public what we say in private to Israelis and Palestinians and Arabs. (Applause.) We cannot impose peace. But privately, many Muslims recognize that Israel will not go away. Likewise, many Israelis recognize the need for a Palestinian state. It is time for us to act on what everyone knows to be true.

Too many tears have been shed. Too much blood has been shed. All of us have a responsibility to work for the day when the mothers of Israelis and Palestinians can see their children grow up without fear; when the Holy Land of the three great faiths is the place of peace that God intended it to be; when Jerusalem is a secure and lasting home for Jews and Christians and Muslims, and a place for all of the children of Abraham to mingle peacefully together as in the story of Isra — (applause) — as in the story of Isra, when Moses, Jesus, and Mohammed, peace be upon them, joined in prayer. (Applause.)

The third source of tension is our shared interest in the rights and responsibilities of nations on nuclear weapons.

This issue has been a source of tension between the United States and the Islamic Republic of Iran. For many years, Iran has defined itself in part by its opposition to my country, and there is in fact a tumultuous history between us. In the middle of the Cold War, the United States played a role in the overthrow of a democratically elected Iranian government. Since the Islamic Revolution, Iran has played a role in acts of hostage-taking and violence against U.S. troops and civilians. This history is well known. Rather than remain trapped in the past, I’ve made it clear to Iran’s leaders and people that my country is prepared to move forward. The question now is not what Iran is against, but rather what future it wants to build.

I recognize it will be hard to overcome decades of mistrust, but we will proceed with courage, rectitude, and resolve. There will be many issues to discuss between our two countries, and we are willing to move forward without preconditions on the basis of mutual respect. But it is clear to all concerned that when it comes to nuclear weapons, we have reached a decisive point. This is not simply about America’s interests. It’s about preventing a nuclear arms race in the Middle East that could lead this region and the world down a hugely dangerous path.

I understand those who protest that some countries have weapons that others do not. No single nation should pick and choose which nation holds nuclear weapons. And that’s why I strongly reaffirmed America’s commitment to seek a world in which no nations hold nuclear weapons. (Applause.) And any nation — including Iran — should have the right to access peaceful nuclear power if it complies with its responsibilities under the nuclear Non-Proliferation Treaty. That commitment is at the core of the treaty, and it must be kept for all who fully abide by it. And I’m hopeful that all countries in the region can share in this goal.

The fourth issue that I will address is democracy. (Applause.)

I know — I know there has been controversy about the promotion of democracy in recent years, and much of this controversy is connected to the war in Iraq. So let me be clear: No system of government can or should be imposed by one nation by any other.

That does not lessen my commitment, however, to governments that reflect the will of the people. Each nation gives life to this principle in its own way, grounded in the traditions of its own people. America does not presume to know what is best for everyone, just as we would not presume to pick the outcome of a peaceful election. But I do have an unyielding belief that all people yearn for certain things: the ability to speak your mind and have a say in how you are governed; confidence in the rule of law and the equal administration of justice; government that is transparent and doesn’t steal from the people; the freedom to live as you choose. These are not just American ideas; they are human rights. And that is why we will support them everywhere. (Applause.)

Now, there is no straight line to realize this promise. But this much is clear: Governments that protect these rights are ultimately more stable, successful and secure. Suppressing ideas never succeeds in making them go away. America respects the right of all peaceful and law-abiding voices to be heard around the world, even if we disagree with them. And we will welcome all elected, peaceful governments — provided they govern with respect for all their people.

This last point is important because there are some who advocate for democracy only when they’re out of power; once in power, they are ruthless in suppressing the rights of others. (Applause.) So no matter where it takes hold, government of the people and by the people sets a single standard for all who would hold power: You must maintain your power through consent, not coercion; you must respect the rights of minorities, and participate with a spirit of tolerance and compromise; you must place the interests of your people and the legitimate workings of the political process above your party. Without these ingredients, elections alone do not make true democracy.

AUDIENCE MEMBER: Barack Obama, we love you!

PRESIDENT OBAMA: Thank you. (Applause.) The fifth issue that we must address together is religious freedom.

Islam has a proud tradition of tolerance. We see it in the history of Andalusia and Cordoba during the Inquisition. I saw it firsthand as a child in Indonesia, where devout Christians worshiped freely in an overwhelmingly Muslim country. That is the spirit we need today. People in every country should be free to choose and live their faith based upon the persuasion of the mind and the heart and the soul. This tolerance is essential for religion to thrive, but it’s being challenged in many different ways.

Among some Muslims, there’s a disturbing tendency to measure one’s own faith by the rejection of somebody else’s faith. The richness of religious diversity must be upheld — whether it is for Maronites in Lebanon or the Copts in Egypt. (Applause.) And if we are being honest, fault lines must be closed among Muslims, as well, as the divisions between Sunni and Shia have led to tragic violence, particularly in Iraq.

Freedom of religion is central to the ability of peoples to live together. We must always examine the ways in which we protect it. For instance, in the United States, rules on charitable giving have made it harder for Muslims to fulfill their religious obligation. That’s why I’m committed to working with American Muslims to ensure that they can fulfill zakat.

Likewise, it is important for Western countries to avoid impeding Muslim citizens from practicing religion as they see fit — for instance, by dictating what clothes a Muslim woman should wear. We can’t disguise hostility towards any religion behind the pretence of liberalism.

In fact, faith should bring us together. And that’s why we’re forging service projects in America to bring together Christians, Muslims, and Jews. That’s why we welcome efforts like Saudi Arabian King Abdullah’s interfaith dialogue and Turkey’s leadership in the Alliance of Civilizations. Around the world, we can turn dialogue into interfaith service, so bridges between peoples lead to action — whether it is combating malaria in Africa, or providing relief after a natural disaster.

The sixth issue — the sixth issue that I want to address is women’s rights. (Applause.) I know –- I know — and you can tell from this audience, that there is a healthy debate about this issue. I reject the view of some in the West that a woman who chooses to cover her hair is somehow less equal, but I do believe that a woman who is denied an education is denied equality. (Applause.) And it is no coincidence that countries where women are well educated are far more likely to be prosperous.

Now, let me be clear: Issues of women’s equality are by no means simply an issue for Islam. In Turkey, Pakistan, Bangladesh, Indonesia, we’ve seen Muslim-majority countries elect a woman to lead. Meanwhile, the struggle for women’s equality continues in many aspects of American life, and in countries around the world.

I am convinced that our daughters can contribute just as much to society as our sons. (Applause.) Our common prosperity will be advanced by allowing all humanity — men and women — to reach their full potential. I do not believe that women must make the same choices as men in order to be equal, and I respect those women who choose to live their lives in traditional roles. But it should be their choice. And that is why the United States will partner with any Muslim-majority country to support expanded literacy for girls, and to help young women pursue employment through micro-financing that helps people live their dreams. (Applause.)

Finally, I want to discuss economic development and opportunity.

I know that for many, the face of globalization is contradictory. The Internet and television can bring knowledge and information, but also offensive sexuality and mindless violence into the home. Trade can bring new wealth and opportunities, but also huge disruptions and change in communities. In all nations — including America — this change can bring fear. Fear that because of modernity we lose control over our economic choices, our politics, and most importantly our identities — those things we most cherish about our communities, our families, our traditions, and our faith.

But I also know that human progress cannot be denied. There need not be contradictions between development and tradition. Countries like Japan and South Korea grew their economies enormously while maintaining distinct cultures. The same is true for the astonishing progress within Muslim-majority countries from Kuala Lumpur to Dubai. In ancient times and in our times, Muslim communities have been at the forefront of innovation and education.

And this is important because no development strategy can be based only upon what comes out of the ground, nor can it be sustained while young people are out of work. Many Gulf states have enjoyed great wealth as a consequence of oil, and some are beginning to focus it on broader development. But all of us must recognize that education and innovation will be the currency of the 21st century — (applause) — and in too many Muslim communities, there remains underinvestment in these areas. I’m emphasizing such investment within my own country. And while America in the past has focused on oil and gas when it comes to this part of the world, we now seek a broader engagement.

On education, we will expand exchange programs, and increase scholarships, like the one that brought my father to America. (Applause.) At the same time, we will encourage more Americans to study in Muslim communities. And we will match promising Muslim students with internships in America; invest in online learning for teachers and children around the world; and create a new online network, so a young person in Kansas can communicate instantly with a young person in Cairo.

On economic development, we will create a new corps of business volunteers to partner with counterparts in Muslim-majority countries. And I will host a Summit on Entrepreneurship this year to identify how we can deepen ties between business leaders, foundations and social entrepreneurs in the United States and Muslim communities around the world.

On science and technology, we will launch a new fund to support technological development in Muslim-majority countries, and to help transfer ideas to the marketplace so they can create more jobs. We’ll open centers of scientific excellence in Africa, the Middle East and Southeast Asia, and appoint new science envoys to collaborate on programs that develop new sources of energy, create green jobs, digitize records, clean water, grow new crops. Today I’m announcing a new global effort with the Organization of the Islamic Conference to eradicate polio. And we will also expand partnerships with Muslim communities to promote child and maternal health.

All these things must be done in partnership. Americans are ready to join with citizens and governments; community organizations, religious leaders, and businesses in Muslim communities around the world to help our people pursue a better life.

The issues that I have described will not be easy to address. But we have a responsibility to join together on behalf of the world that we seek — a world where extremists no longer threaten our people, and American troops have come home; a world where Israelis and Palestinians are each secure in a state of their own, and nuclear energy is used for peaceful purposes; a world where governments serve their citizens, and the rights of all God’s children are respected. Those are mutual interests. That is the world we seek. But we can only achieve it together.

I know there are many — Muslim and non-Muslim — who question whether we can forge this new beginning. Some are eager to stoke the flames of division, and to stand in the way of progress. Some suggest that it isn’t worth the effort — that we are fated to disagree, and civilizations are doomed to clash. Many more are simply skeptical that real change can occur. There’s so much fear, so much mistrust that has built up over the years. But if we choose to be bound by the past, we will never move forward. And I want to particularly say this to young people of every faith, in every country — you, more than anyone, have the ability to reimagine the world, to remake this world.

All of us share this world for but a brief moment in time. The question is whether we spend that time focused on what pushes us apart, or whether we commit ourselves to an effort — a sustained effort — to find common ground, to focus on the future we seek for our children, and to respect the dignity of all human beings.

It’s easier to start wars than to end them. It’s easier to blame others than to look inward. It’s easier to see what is different about someone than to find the things we share. But we should choose the right path, not just the easy path. There’s one rule that lies at the heart of every religion — that we do unto others as we would have them do unto us. (Applause.) This truth transcends nations and peoples — a belief that isn’t new; that isn’t black or white or brown; that isn’t Christian or Muslim or Jew. It’s a belief that pulsed in the cradle of civilization, and that still beats in the hearts of billions around the world. It’s a faith in other people, and it’s what brought me here today.

We have the power to make the world we seek, but only if we have the courage to make a new beginning, keeping in mind what has been written.

The Holy Koran tells us: “O mankind! We have created you male and a female; and we have made you into nations and tribes so that you may know one another.”

The Talmud tells us: “The whole of the Torah is for the purpose of promoting peace.”

The Holy Bible tells us: “Blessed are the peacemakers, for they shall be called sons of God.” (Applause.)

The people of the world can live together in peace. We know that is God’s vision. Now that must be our work here on Earth.

Thank you. And may God’s peace be upon you. Thank you very much. Thank you. (Applause.)

END
2:05 P.M. (Local)

###

SNIPPET from post no. 1:

"During his speech in Cairo on June 4, the President announced..."

the DNC has always considered that it OWNS all the
US Patent applications by US citizens.

It sold them to China under Clinton for DNC donations.
Now they will be given to Islamic countries with
US taxpayer money. How convenient.

The Holy Koran tells us: “O mankind! We have created you male and a female; and we have made you into nations and tribes so that you may know one another.”
...
Thank you. And may God’s peace be upon you. Thank you very much. Thank you. (Applause.)

Calling the Koran "holy" and using that "peace be upon you" formulation are not actions that I like to see from the occupant of our Oval Office.

read later

Funding based upon religion? Why not fund Christian innovation - the Phillipines could use it more and have done less to harm us.

Why not just stop funding everyone outside the US. People are unemployed at home, that’s where charity should begin.

What an idiot in the Whitehouse. This money will go right into weapons technology.

Stupidest man alive: Barack Obama.

question?
So we need to pass cap and tax to found this fund?
Who are the players behind this scam?

Money to jump start Nuclear Weapons programs in the Islamic countries?

Note: The new url for the thread in post no. 1 is:

http://www.whitehouse.gov/the-press-office/white-house-announces-global-technology-and-innovation-fund

Note: The following text is a quote:

Home • Briefing Room • Statements & Releases

The White House

Office of the Press Secretary

For Immediate Release October 23, 2009
White House Announces Global Technology and Innovation Fund

During his speech in Cairo on June 4, the President announced that the United States would “launch a new fund to support technological development in Muslim-majority countries.” As the latest step in delivering on this commitment, the Overseas Private Investment Corporation announced this week a call for proposals for a Global Technology and Innovation Fund. This fund will help catalyze and facilitate private sector investments that promote access to and growth of technology in OPIC-eligible countries throughout Asia, the Middle East, and Africa. OPIC will provide financing ranging between $25 million and $150 million in total capital for each selected fund.

The Global Technology and Innovation Fund is part of an on-going U.S. government effort to expand partnerships that advance economic opportunity and job creation - including in Muslim-majority countries. Specifically, the sectors of interest for prospective funds may address issues that can have a transformational impact in these regions such as technology, education, telecom, media, business services and financial technology and clean-tech.

More information is available at: http://www.opic.gov/investment-funds/calls-for-proposals/global-technology-innovation-fund/.

Note: The following text is a quote:

http://www.america.gov/st/business-english/20009/november/20091125122209esnamfuak0.5765345.html

Topics: Opportunity, Business & Trade, East Asia and the Pacific, Middle East and North Africa, South & Central Asia
Keywords: entrepreneurship, Muslims, Presidential Summit on Entrepreneurship

25 November 2009

Entrepreneurs from Muslim World Sought for Washington Summit

The 2010 summit follows up on President Obama’s pledge in Cairo to find ways to deepen ties between the U.S. and the Muslim world.
By Stephen Kaufman
Staff Writer

Washington — Approximately 150 entrepreneurs from Muslim-majority countries and Muslim communities around the world will be invited to a two-day summit in Washington in spring 2010 to meet with their peers and U.S. officials to explore areas of partnership and ways to drive economic and social innovation.

Deputy Secretary of Commerce Dennis Hightower told reporters at Washington’s Foreign Press Center November 23 that the Presidential Summit on Entrepreneurship is a “direct follow-up” from President Obama’s June 4 commitment in Cairo to “identify how we can deepen ties between the business leaders, foundations and social entrepreneurs in the U.S. and Muslim communities around the world.”

The 150 delegates can be nominated “by businesses, governments, academic institutions, [and] social entrepreneurship institutions” throughout the world’s Muslim communities and Muslim-majority countries. “Or you can self-nominate,” Hightower said. Non-Muslims in Muslim-majority countries are also encouraged to apply.

The Obama administration views the summit as “an unprecedented historical opportunity both to support and highlight the leaders and drivers of economic and social innovation” and to “really craft a new model for a new basis for relationships based on mutual respect and partnership around common challenges,” Hightower said.

The goal is to enhance partnerships that would “link capital, business development, [and] market access,” enabling entrepreneurs to build “high-growth and high-impact ventures,” as well as continue to look at ways to sustain the existing U.S. focus on other types of partnership programs.

Hightower reflected on his career in which he opened businesses in Kuwait, Kuala Lumpur, Johor Bahru, Istanbul, Saudi Arabia, Dubai, and elsewhere in the Middle East region.

The underlying rationale driving his ventures was determined by “what is going to be mutually beneficial” in terms of job creation in those countries along with what would be good for a U.S. company. Both benefits, he said are “equally compelling.”

“The unifying theme of how we are more alike is certainly at the core of why this makes sense now,” Hightower said. At the end of the day, “good business is good business.”

U.S. embassies and consulates in the countries where the delegates will likely be coming from have been told about the summit and will be processing the visas and other paperwork necessary for the 150 participants to come to Washington.

Along with the Department of Commerce and its Office of Innovation and Entrepreneurship, the State Department and the U.S. Agency for International Development will be playing key roles in implementing the summit.

There is a broad and diverse platform from which to get “the best possible range of participation,” Hightower said. “You just never know where the next best or good idea is going to come from.”

More information, including a link to a nomination form that can be submitted online, can be found at the summit’s Web site. The deadline for nominations is November 30.