A global technology development fund he announced last year will soon "mobilize more than $2 billion in investments," U. S. President Barack Obama said on Monday.

Entrepreneurs the world over have a common belief "that we are all bound together by certain common aspirations," Speaking at a summit on entrepreneurship in Washington, Obama told an audience of officials and entrepreneurs from almost 60 countries.

The president said, "To live with dignity. To get an education. To live healthy lives. Maybe to start a business, without having to pay a bribe to anybody. To speak freely and have a say in how we are governed. To live in peace and security and to give our children a better future."

He went to Cairo last year and "called called for a new beginning between the United States and Muslim communities ... based on mutual interest and mutual respect" because both sides "too often fell victim to mutual mistrust," Obama said.

The Global Technology and Innovation Fund that was announced in Cairo is ready to start funding projects, he said on Monday.

Obama further said, "And tonight, I can report that the Global Technology and Innovation Fund that I announced in Cairo will potentially mobilize more than $2 billion in investments. This is private capital, and it will unlock new opportunities for people across our countries in sectors like telecommunications, healthcare, education and infrastructure."

It was also announced by the president that the next entrepreneurship conference will be held next year in Turkey. (With Inputs from Agencies)