Enabling Youth Transform From Employment Seekers To Entrepreneurs
The Young Entrepreneurs Program is a focused initiative under the MyQuest program that aims to foster and nurture entrepreneurial spirit in young people.
According to the Economic Survey (2018-19), close to 12 million people in India enter the workplace annually. However, only 5-6 jobs million jobs are created per year with government jobs making up only a fraction of this number.
While job seekers already exceed the number of job opportunities, youth studying in ITIs, VTIs and polytechnics need additional support to enter the workforce. An over-crowded job market risks exposing marginalized youth to unemployment or underemployment.
The Young Entrepreneurs Program (YEP) is an initiative that aims to address the employment crisis and instil confidence in young students to pursue entrepreneurship as a career option.
It is designed to equip them with skills and resources to circumvent the disadvantages of an already over-crowded job market. The program helps them identify their strengths to begin small self-employed units, as an alternative to seeking employment, and provides them the necessary skills to help them replicate and scale-up their business models to begin new enterprises.
It uses a four-step approach over a period of six-months to address key challenges associated with the starting a business. They include:
Step 1: Building Aspirations -- Aspiring Students of ITIs, VTIs or Polytechnic register for a self-employment training.
Step 2: Entrepreneurial Mindset Building -- YE Cohort, a 13-15 day rigorous self-employment training is organized to help identify a business idea, formulate a business plan, assess viability, and pitch to investors.
Step 3: Financial Advice -- Entrepreneurs are offered information about the various government schemes under which they can procure funding to start a business.
Step 4: Hand-holding -- Four reflection workshops and mentorship programme to help manage business challenges.
- 13ITIs, VTIs and Polytechnics
- 52%Set up business