Bill Gates: education system needs more entrepreneurs

Bill Gates, speaking at the SXSWedu conference in Austin, urged entrepreneurs to create educational programs for the 21st Century.

The Bill and Melinda Gates Foundation has invested more than $250 million in U.S. schools, but according to Bill Gates, who spoke Thursday at the SXSWedu conference in Austin, that’s not nearly enough.

“Is the overall investment in education commensurate with its importance?” he asked. “Absolutely not.”

The numbers speak for themselves: From 1995 to 2011, the share of venture capital invested in education companies was just one percent–compared with 38 percent in technology companies, and 19 percent in healthcare firms.

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