CYFI supporting young entrepreneurs and the 8th Sustainable Development Goal

Author: Jie Xue, Innovations Coordinator

On August 8th, Startup Summit, a joint event by Ye! and Young Entrepreneurs Society (YES), took place in Manila, Philippines. The event announced the 10 winners of the Ye! Boost Camp Scholarships and the Top 5 startups that will represent the Philippines in other startup competitions.

This event is one of the many ways in which CYFI is supporting Goal #8 of the Sustainable Development Goals: to promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. Attended by over 500 participants, the event brought together top startups, successful entrepreneurs, investors, and other key players of the entrepreneurship ecosystem of the country.

The one-day event kicked off insightful talks with speakers such as Jay Fajardo - serial tech entrepreneur and one of the pioneers of the Philippines’ tech startup scene; Frederic Levy - Founder & CEO of CashCash Pinoy, the country’s No. 1 product flash sale website; and Subir Lohani - Managing Director of Carmudi Philippines, the fastest growing car classifies platform in emerging markets.

The afternoon saw fierce pitching competition of the top 20 startups, which were selected among the 50 startups invited to participate in the Ye! Boost Video Competition. These 20 startups represent a variety of sectors like technology, agriculture, education, fashion, and clean energy. Each startup pitched their venture for a maximum of 5 minutes, followed by a Q&A with a panel of judges.

Winners of the Ye! Boost Camp Scholarships were announced, including the winner of the Ye! Boost Video Competition (for the aged under 30 group), Apollo, which received 3492 votes in the competition. These 10 entrepreneurs will attend the Ye! Boost Camp this October in Amsterdam, an acceleration and training event for entrepreneurs in Kenya, Ghana and the Philippines. With youth unemployment at a record high, 12.6 per cent in 2011 according to the International Labor Organization, this calls to question not only the number of youth who are unemployed, but also the number of young people who are “NEET”: neither in employment nor in education or training. In 2012, data for 24 developing economies showed an average NEET rate of 12.4 per cent for young men and 28.1 per cent for young women. With training programs such as through the Ye! Boost Camp, CYFI is determined to see Target 8.6, to substantially reduce the proportion of youth not in employment, education or training by 2020, succeed for young people around the world, and particularly for young women.

As stated in Target 8.5 of Goal 8, to achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value by 2030, CYFI hopes that with more events such as the Ye! Boost camp, and a global push for young people to develop the skills and knowledge that they need in order to thrive in their own entrepreneurship adventures, the world will see the potential of young people to boost not only local economies, but the power of young people to change the financial landscape at large. CYFI is thrilled to see the efforts of the United Nations through the Sustainable Development Goals to develop and operationalize a global strategy for youth employment by 2020, as described in Target 8b of the SDGs, and will continue to work towards contributing to and reaching this goal.

The 10 Ye! Boost Camp Scholarship Winners are (click to view their videos)

Winners of Ye! Boost Video Competition

Aged 16~30 Group

Aged 30+ Group

Winners that will compete in further competitions

  • Raket.ph – to compete in Get in the Ring
  • iHarvest – to compete in Future Agro Challenge
  • Qwikwire - to compete in The Pitch event

This blog is the tenth in a series of summer blog articles related to the Post-2015 Sustainable Development Goals and are authored by youth interns at Child & Youth Finance International. Join the discussion on social media by following @ChildFinance and using the hashtag #cyfiyouth.

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Tuesday, 19 November 2019