Obama Addresses Entrepreneurs Who Can 'Transform The World'

STANFORD - President Barack Obama addressed an international crowd and emphasized the importance of entrepreneurship during a conference at Stanford University Friday morning.

Obama was met with applause as he stepped on stage at Memorial Auditorium after a brief introduction by university president John Hennessy shortly before 11 a.m.

Prior to his remarks, Obama was met outside Memorial Auditorium by a group of protesters who spoke out against the Supreme Court's deadlocked decision on the his immigration plan that would've helped millions of undocumented immigrants from getting deported and encouraged him to take action, according to White House pool reports from reporters traveling with the president.

Obama opened with comments on Britain's decision Thursday to leave the European Union. He spoke hours earlier with Prime Minister David Cameron and was "confident" the United States' relationship with Britain wouldn't change despite the vote.

Both countries will keep their economic and financial teams in close contact during the transition, Obama said.

The president turned his attention to the audience at the summit and said they represent an "interconnection" that brings the world together.

"Many of you are catalyzing it and accelerating it. It promises to bring extraordinary benefits but it also has challenges and it also evokes concerns and fears," Obama said.

An important component of the discussion was to find ways entrepreneurs are expanding and broadening benefits to more people, Obama said.

The President spoke about how entrepreneurs have the ability to bring an idea to life that can "transform the world."

Economies have gone through "dramatic shifts" and businesses have crossed borders, which have changed industries and the way people work, Obama said.

People who start their own businesses help their communities succeed and lift up women and minorities, the president said. "Entrepreneurship is what gives people like you to fulfill your own dreams," Obama said.

With half of the world's population under 30 years old, young people have the tools to create new ventures and "help lift up entire populations," the president said.

"You are going to be what helps this process of global integration work in a way that is good for everyone and not just some," Obama said.

The president then introduced Facebook founder and CEO Mark Zuckerberg and three entrepreneurs hailing from Egypt, Rwanda and Peru for a panel discussion.

Obama was scheduled to participate in a Google Portal virtual conversation after noon alongside entrepreneurs at the university, and was scheduled to leave the Bay Area at 1:35 p.m. from Moffett Federal Airfield in Mountain View.

As the President got ready to leave, ABC7 caught the relaxed image of a man engaging in fun with a little girl.

Also on Patch: Obama Will Address Entrepreneurship Summit Friday At Stanford

-Bay City News, file image via Dave Colby