Commonwealth and UNCTAD commit to update the joint policy guide on youth entrepreneurship
October 13The Commonwealth Youth Programme and UNCTAD recently held consultations with key stakeholders from civil society, academia and leading entrepreneurs to update the youth entrepreneurship guide launched jointly by the two organisations in 2015.
The Commonwealth Youth Programme participated in UNCTAD’s 11th multi-year expert Meeting on Investment, Innovation and Entrepreneurship for Productive Capacity-building and Sustainable Development held from September 30 to October 1, 2024 at the Palais des Nations in Geneva, Switzerland.
Under the theme “Business Development Services for Conducive Business Ecosystems in Support of Sustainable Development,” the meetings brought together representatives from governments, international organizations, businesses, academia and non-governmental organizations. Participants discussed the need for adaptation of business development services to novel entrepreneurial challenges, focusing on the dual transitions of digitalization and new technologies, the emergence of new critical skills and the shift towards greener businesses.
Youth Adviser, Mr Sushil Ram contributed to the session on ‘Innovate to elevate: tackling entrepreneurial novelties with upskilling and reskilling’ during which he highlighted the Secretariat’s initiatives on youth entrepreneurship and digitalisation.
“The Commonwealth’s AI Consortium provides opportunities for innovation and growth, by guiding entrepreneurs on how to create sustainable AI-based solutions,” said Mr Ram.
He also spoke about the importance of providing networking opportunities to young entrepreneurs in helping them establish and scale their businesses highlighting the Commonwealth Alliance for Youth Entrepreneurs (CAYE) network, which connects young entrepreneurs across the commonwealth enabling collaboration, knowledge sharing, and access to International markets.
The Commonwealth Secretariat and UNCTAD have a strong partnership in advancing youth development. In 2015, they jointly developed a policy guide on youth entrepreneurship, outlining the challenges young people face in starting and scaling their businesses and recommending policies to foster entrepreneurial ecosystems.
On the sidelines of the expert meetings, the organisations consulted with key stakeholders to conceptualise ways to update the policy guide, ensuring it addresses current challenges and opportunities within entrepreneurial ecosystems.
The Commonwealth Secretariat remains committed to working closely with UNCTAD to unlock the full potential of youth entrepreneurship across the Commonwealth and beyond.
