New Delhi/Patna, July 15, 2024: With an aim to leverage and catalyse the entrepreneurial potential of Indian youth, particularly in the realm of women-led social and green enterprises, child rights NGO Bal Raksha Bharat has announced the expansion of Youth Innovation and Action Lab (YIAL), a catalyst to create local entrepreneurs.
YIAL is a unique incubation and accelerator programme that brings together a cohort of youth and adolescents to identify problems faced by them, and their communities to develop and pilot ingenious solutions.
This initiative aims to empower marginalised youth in India, to become catalysts for change in their communities through entrepreneurship and innovation. After a successful roll-out in Delhi, its expansion across small towns in Bihar is now enabling over 200+ youth develop nine entrepreneurial propositions covering sectors like Farming, Goat Rearing, Mushroom Cultivation, Stitching Centre, Broom making and Food Cart, etc.
The YIAL initiative will flag off in other states like Karnataka, Odisha, West Bengal and Maharashtra phase-wise. This large-scale initiative will target both urban and rural areas, ensuring that marginalized youth have the support they need to overcome socio-economic barriers and realize their full potential
Various studies reflect on India being home to the world's largest youth population, with ~66% of its total populace under 35 years of age. The country's youth workforce is projected to reach 1.08 billion by 2050. 20% of households face disproportionate barriers to education, employment and skilling opportunities. 23.22% youth were estimated to be unemployed in India in 2022. 27.2% of India's youth, (nearly 175 million) are not engaged in education, employment, or training.
Sudarshan Suchi, CEO of Bal Raksha Bharat, emphasizes the importance of this initiative: "With India’s youth population expected to grow by 8 million annually over the next decade, the potential for economic growth is substantial. YIAL is a critical step towards harnessing the potential of India's youth and by extending its reach and impact we aim to empower many more youth nationwide in the future. Young entrepreneurs drive innovation, leading to new products, services, and technologies that can boost the economy. If India aspires to be a developed nation by 2047, such an inclusive growth is crucial for achieving this goal. These young boys and girls will have a cascading effect to pass on this opportunity to many more, and empowered youth can build sustainable businesses that contribute to long-term economic stability.”
The YIAL initiative has already made significant progress in Bihar, where youth collectives in seven Gram Panchayats (83 villages) in Gaya District, four Gram Panchayats (13 villages) in Sitamarhi District, and two Wards (6 slums) in Patna-Urban are actively engaged. Around 15 members of the youth trade group from Gaya District post a 2-day training on organic farming is making a net profit of Rs 10,680 today. Around 9 units are engaged in goat rearing micro-business having sales of approximately Rs 20,000.
Pranab Kumar Chanda, Head of Economic Well-Being, Social Protection, and Livelihood at Bal Raksha Bharat, explains, "Our goal with YIAL is to create a structured pathway for marginalized youth to transform their ideas into viable enterprises. This program not only enhances their entrepreneurial skills but also instils a sense of agency and resilience that is crucial for overcoming socio-economic barriers. We will try to create an ecosystem of opportunities, build capacities for like-minded NGO’s, support government initiatives and draw learnings 5 years down the line and scale it up".
The YIAL program unfolds in three key phases: incubation, marketplace pitching, and business acceleration. Participants engage in intensive camps to conceptualize innovative solutions and gain vital 21st-century skills. These ideas were then presented at the Ideas Ka Adda Marketplace, enabling participants to secure seed money and refine their concepts based on real-world feedback. Finally, participants developed business plans, secured seed capital, and receive mentorship for sustainable development, including training in technology expansion and connections with investors.
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