Program to Help Young People Start and Grow Small Businesses
New Delhi - Today, the International Youth Foundation (IYF), together with MasterCard Worldwide and the Community Collective Society for Integrated Development (CCFID), launched Young Entrepreneurs, a program designed to address the urgent need to increase support for youth entrepreneurs in India.
Each year, as many as 12 million young people in India enter the labor market seeking jobs that can support themselves and their families. However, the Indian economy only creates about one million new jobs in the formal sector every year.
Young Entrepreneurs responds directly to these challenges. The two-year initiative will provide 700 youth ages 15 to 29 with multi-faceted support to launch or grow their own small enterprises. The program, which operates in Delhi and Mumbai, will include business and life skills training, access to financial capital through a revolving loan fund, ongoing technical assistance and links to mentors in the business community.
"Thanks to this new partnership with MasterCard Worldwide, we can help hundreds of emerging young entrepreneurs start their own businesses, and in many cases provide much needed jobs in the community," says William S. Reese, President and CEO of the International Youth Foundation. "When we invest in our young people, we get in return a more productive and flourishing society."
"We are pleased to partner with the International Youth Foundation and CCFID to help hundreds of youth in India realize their economic potential as entrepreneurs," adds Mr. TV Seshadri, MasterCard's General Manager South Asia and Country President for India. "Our partnership underscores MasterCard's continued commitment to financial inclusion through entrepreneurship around the world."
Held at the India Habitat Centre in New Delhi, the program launch was attended by top corporate, government, and NGO leaders; and top representatives from the Ministry of Youth Affairs, IYF, MasterCard Worldwide and CCFID.
Find more information about CCFID in National business news papers and web publishing on the launch event.
The umbrella program on natural resource management has been launched in the year 2010 by our Natural Resource Management wing. Under the UPNRM program 120 Acres of land in 11 villages of Cuddalore district of Tamil Nadu have under gone hybrid cashew plantation for VRI III plants. Total number of farmers enrolled is 147 farmers in 15 farmer clubs. 649 small and marginal processors have availed the loan support under the program, thereby increasing their profit ability. One of the main aims of the program was to promote public- private partnership model whereby the farmers get maximum exposure to interact with various government personal and financial institutions for timely assistance. Several producer workshops for small and marginal cashew a farmers were also organized for facilitating direct interaction with bankers, development experts, and technical experts to gain maximum exposure on Natural resource Management for a sustainable livelihood.
Maya, age 23, had always dreamed of having a job and supporting her family after she completed her education. But she was forced to quit her studies early due to her parents’ financial hardships. Even though she had no experience in the job market, she got a job working at a cloth export company near her home in New Delhi, and managed to gain some basic tailoring skills. Maya’s salary, however, did not cover her daily travel and food expenses. When the business slowed down, she was forced to leave her job.
The Thane Cyclone came like a nightmare for the people of Pondicherry and Cuddulore, this New Year eve. The cyclone claimed 63 lives and a crop loss of around 4 lakh hectares in the districts of Villupuram, Pondicherry, Nagapattinam Thiruvannamalai, Thiruvallur, Kanchipuram and chennai respectively. CCFID had launched its THANE Cyclone Response Project in partnership with Concern Worldwide International this Feb’12 onwards. It is a six month project launched in four villages of Cuddalore district, naming Pudhunagar, Varakalpattu, Alapakkam and Kuruwanmedu respectively. Total of 532 households were selected through the process of on field verification of housing status of all the households, in each of the villages. Through this program we tend to give support to the beneficiary households to rebuild their houses and meet their basic needs with the transferred cash amount. Also the program focuses to promote the basic Disaster Risk Reduction and Hygiene practices within the community.