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Young entrepreneurs' meet held

Posted on Nov 29, 10:23PM | IANS

Young entrepreneurs and experts met here Thursday to discuss ways to strengthen a programme aimed at helping them grow their businesses and spreading financial inclusion.

International Youth Foundation, Mastercard Worldwide and Community Collective Society for Integrated Development organised the meet at India International Centre to discuss ways to further strengthen efforts to support the 'Young Entrepreneurs' initiative.

"We believe entrepreneurship skills are one way for individuals to overcome barriers to financial inclusion and we are proud to support this initiative which empowers Indian youth to achieve positive economic outcomes for themselves, their families and their communities," said T.V. Seshadri, division president, South Asia, MasterCard Worldwide.

Young Entrepreneurs is a two-year initiative to increase support for youth entrepreneurship in India.

It will provide 700 youths aged between 15 and 29 with multi-faceted support to launch or grow their own small enterprises.

The programme operates in Delhi and Mumbai, and offers participants business and life skills training, ongoing technical assistance and links to mentors in the business community. In addition, aspiring young entrepreneurs enrolled in the programme gain access to financial capital through a revolving fund supported by MasterCard.

"Since its inception in April, the programme has succeeded in helping train 388 Indian youths, as well as providing them with the financial assistance needed to operate their business," said Seshadri.

"The programme has helped me to realise my potential and given me confidence to fight poverty and support my family," said Amit, a participant from Delhi.

"I was able to customise products as per the demand. I'm now able to manufacture ladies' garments with block printing which are in high demand. I have also started retailing and whole-selling finished goods," said Maya, 23, who runs a tailoring unit in Noida.