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.