YBI’s regional Youth Entrepreneurship Programme (YEP) in Latin America and the Caribbean, designed together with IDB Lab, worked in 10 countries to strengthen entrepreneurship support services while also supporting over 60,000 youth to start or grow their own business.
The programme worked over six years (2013 – 2019) supporting disadvantaged young entrepreneurs, creating new jobs and shaping the local economy.
In the process, YEP built a vibrant regional network which is well-positioned to reach and support many more youth in years to come.
Youth were trained with entrepreneurship skills in partnership with YBI member organisations in ten countries.
New jobs were created.
Of the businesses supported under the project had increased sales one year after receiving support.
Businesses were started or strengthened.
Through the Youth Entrepreneurship Programme the network evolved from one of sharing tools and practices with one another to solving problems together and co-creating effective solutions.
We worked with ten local organisations in Latin America and the Caribbean to deliver this ambitious programme. Together with our members, we supported tens of thousands of young people to set up and grow a business, creating jobs and contributing to the personal development of the youth themselves, as well their families and communities. These are the stories of some of the young entrepreneurs supported by the members in the area.
“After leaving high school, I found it hard to get a job. No one wanted to hire me, mainly because of my disability. It hurt but I decided that I was going to make something of myself on my own terms and, in the process, help others like me.”
“I wanted to own something for myself, to be a self-employer. Fundación Paraguaya helped me to achieve that goal when I was feeling overworked doing what I loved.”
“Find what you want to do and fight for it. All the experience will make you better.”
IDB Lab (previously known as MIF) is the innovation laboratory of the IDB Group. It aims to promote development through the private sector by identifying, supporting, testing and piloting new solutions to development challenges, seeking to create opportunities for the poor and vulnerable populations in the LAC region.
Citi Foundation Supported YEP member Aliança Emprendedora to strengthen its network of partner organisations that allowed scaling the programme across Brasil and funded three research studies on effective strategies for scale, effectuation methodology and the digital landscape for youth entrepreneurs.
Accenture, co-financed many of the YEP activities alongside IDB Lab including in particular the innovation challenge, digital accelerator and building of our online knowledge-sharing community.
Recognising the importance of building knowledge and a community of practice, the programme invested in creating and exchanging knowledge at national and regional levels.