Renovating the economy requires a renewed commitment to entrepreneurship, The Home Depot co-founder Ken Langone said Monday in Lohrfink Auditorium.”I believe that America has never needed entrepreneurs as much as we do today,” Langone said in an impassioned keynote address at the kickoff panel for D.C. Entrepreneurship Week and Global Entrepreneurship Week. Langone said the contributions of entrepreneurial businesses were especially valuable to society.”It’s all about doing the right thing to get people to believe that they can do things they never dreamed they can do,” he said.Panelists at the event discussed the advantages and pitfalls of entrepreneurship.”There isn’t any easy way. It takes hard work,” said panelist Bill Doucas (MSB ’81), chairman and CEO of Elutions Inc., which specializes in business intelligence solutions.Fellow panelist Tim O’Shaughnessy (MSB ’04), co-founder and CEO of LivingSocial, added that entrepreneurs must be proactive from the start.”You’ve got to really pound the pavement, find out who you know, get introductions and get your name out there and get your product out there,” he said.The speakers agreed that Georgetown does not always provide the best environment for fostering entrepreneurship.”Georgetown should be the mecca for young entrepreneurs, but we’re behind the curve for numerous systemic reasons,” said panelist Ted Leonsis (C ’77) a serial entrepreneur who helped build AOL and currently owns the Washington Capitols and Wizards. “We make great leaders, but we don’t teach students to run algorithmically successful businesses.”O’Shaugnessy added that the current state of the D.C. community and the global community at large fails to facilitate entrepreneurship.”The ecosystem is set up for companies to thrive, but only if you can jump through the additional hoops set up first,” O’Shaugnessy said.Despite the challenges to entrepreneurs, Langone stood as an example for their possible success.As for his economic views, Langone also acknowledged that he is an “unabashed capitalist” and condemned what he termed the government’s “bashing” of business.”When I hear these stiffs beating up on business, it makes me sick,” he said. “Stop the notion that business is bad. Business is good . businesses create jobs.””I have never in my life had a title in any business I’ve ever been in,” he said. “I don’t need it and I don’t want it. This is what business schools aren’t teaching you.”Students at the event felt that Langone provided valuable advice to potential entrepreneurs.”He grounds us in the realities of everyday values that make us succeed in business,” Diana Tsai (SFS ’12) said. “[Langone’s speech] has helped inspire and reaffirm what I believe in.”Others agreed and said Langone’s presence spoke to the McDonough School of Business’s strength.”I thought it was great that Georgetown was able to get an event with speakers of this caliber,” Ingrid Velmonte (MBA ’12) said. “The panel was cool because you heard from different sides of starting a business, from getting capital to building the business up.””[Langone] was great,” she added. “He encouraged us to get rich and take people with us.””