Youth Business International and the IKEA Foundation partner to support young entrepreneurs in India and Bangladesh

A 1,741,338 Euro grant will enable Youth Business International (YBI) to provide 2,050 young entrepreneurs in India and Bangladesh with training, mentoring, access to finance and support in adopting digital technologies so that they can create over 6,200 quality jobs in their communities. 

The IKEA Foundation and Youth Business International announced their new partnership today, which will enable young entrepreneurs in India and Bangladesh to build thriving businesses that boost their economies and create jobs in the local markets.

Millions of young people in India and Bangladesh are unemployed or in low-wage, low-skilled or unsafe jobs. Many lack the skills and capacities to succeed in today’s rapidly changing world of work, particularly regarding the adoption of digital technologies. Without access to a decent and stable income, young people struggle to provide a better future for themselves or their families. 

According to the World Bank, micro, small and medium enterprises create 75% of non-agricultural jobs in India and Bangladesh. This highlights the role that youth enterprises can play as engines for job creation, enabling more young people to earn a decent income and create a better life for themselves and their families. 

YBI will work with its members Bharatiya Yuva Shakti Trust (BYST) in India and Youth Enterprise Advice and Helpcentre (B’YEAH) in Bangladesh to implement this programme.

 Anita Tiessen, CEO of YBI said:

”We are committed to supporting young people from rural areas of India and Bangladesh to realise their full potential and we believe digital skills are crucial to achieve this. Our partnership with the IKEA Foundation focuses on helping young people develop the skills they need to run successful businesses in an increasingly digital world, empowering them to shape the future for themselves and their communities.” 

 Patrick Obonyo, Programme Manager at the IKEA Foundation, said:

“The IKEA Foundation is proud to partner with YBI because it provides an opportunity for local youths to grow their businesses, earn a stable income and support their families. Through this partnership, YBI is also able to strengthen the capacities of its members in India and Bangladesh to develop much needed digital tools and skills that help young people thrive in a fast-changing market economy.” 

Download the press release.