Data from the World Bank confirms what we have been hearing a lot over the past years: unemployment is increasing (with very few exceptions) everywhere in the world. Young people struggle to enter the job market despite high levels of education, the number of NEETs (Not in Education, Employment or Training) is rising dramatically, workers lose their lifetime job and do not have chances to begin another profession. Recovery is happening for some, but very slowly.
Global Entrepreneurship Week
There are many reasons to be pessimistic but some inspiring leaders have chosen to see it as an opportunity for change. In response to the need, Global Entrepreneurship Week was announced in 2007. Global Entrepreneurship Week aims to inspire people to gather the courage to undertake the entrepreneurial challenge. It is a chance to draw attention to the capabilities of those who have a business idea that they are passionate about making a reality.This year the event was held from Nov 17-23, 2014 and it involves more than 140 countries and activities all over the world!
Providing Assistance for Young Entrepreneurs
Child and Youth Finance International (CYFI) celebrated Global Entrepreneurship Week too and, in order to provide assistance for young entrepreneurs around the world, CYFI has created a new dedicated platform called Ye! (Young Entrepreneurs). Ye! aids young innovators who need support to expand their business and keep their projects alive.
Resources, Coaching and an International Community for Young Entrepreneurs
Ye! will be the biggest online community for young entrepreneurs. It supports entrepreneurs between the age of 16 and 30. By joining the community, they can get in touch with peers and obtain support through sharing knowledge, a free coaching service from international and local experts, and funding opportunities. Young people can use these resources to become more knowledgeable entrepreneurs and grow their business.
CYFI is hosting the first local launch of Ye! on Wednesday, December 10, 2014 in Amsterdam. Investors and young entrepreneurs from around the world will be in attendance at the launch at De Autoriteit Financiële Markten (AFM). These past months CYFI has been interviewing young entrepreneurs from around the world and will choose 10 young entrepreneurs to pitch their business to potential investors. This will be a great opportunity for them to talk to investors who could help them take their business to the next level.
Young Tech Innovation Entrepreneur Takes Start-Up to the Next Level
The selection of the brave young entrepreneurs has already started and, among those who will be able to take the stage at the Ye! launch is Shadi Al-Hakimi, 24 years old, from Yemen. Shadi launched his company, Video and Audio Content Search Engine (VACSE), along with his co-founders Jamal Al-Darwbi and Abubaker Salem, about a year ago. Despite the global spread of generic search engines there was still a scarcity of tools to search for video and audio content. Shadi aimed to address that issue. VACSE allows users to search for visual and audio material not only by description and name, but also by content. Shadi has already accomplished a great deal with his product. He has registered it as a provisional patent at the Ministry of Industry and Trade in Yemen. In 2013, Shadi’s hard work was recognized when he won first place in the Yemeni Youth Tech Innovation Awards. Shadi believes that VACSE, together with other start-ups in Yemen, could help draw attention to technological innovations all over the world. Shadi has achieved many of his goals on his own. He is a CEO at only 24 with awards and a growing business. However, Shadi wants to take his business to the international arena and he needs help to achieve this goal.
This is what the Ye! community is made for: to inspire young entrepreneurs to be more confident in what they do and help them believe that they can change their lives and the world. Are you one of them? Do you believe that your new business could grow exponentially with a little help? Would you like to get in touch with Shadi and ask him how he has got to where he is now?
Eligible entrepreneurs are invited to submit their application by getting in touch with the CYFI team and join the platform. You can find relevant information and join the community: let us help you make your dream come true.
This article is authored by Irene Dominioni - CYFI Intern
Irene is an Italian student and freelance journalist who has gone international since she started the Erasmus Mundus Master's in Journalism, Media and Globalisation. She lived in Denmark and now she is set in Amsterdam, fulfilling her love for the city. Irene is currently interning at CYFI in the communications department, where she is helping to spread the word about the subjects of economic citizenship and financial education.
Images courtesy of Ye! and VACSE Technology