Malaysia will host the annual Youth Co: Lab next year to support young entrepreneurs, especially in the post-COVID-19 recovery.
The Youth Co: Lab, touted as the largest youth social entrepreneurship movement in Asia-Pacific and is to be organised by the United Nations Development Programme (UNDP), Youth and Sports Ministry (KBS) and Science, Technology and Innovation Ministry (MOSTI).
UNDP resident representative of Malaysia, Singapore and Brunei, Niloy Banerjee, said the Asia-Pacific region is home to over 60 per cent of the world’s youth with about 700 million people, thus youths are the assets to sustainable development efforts and also are vital in COVID-19 responses.
He pointed out that Asia has one of the highest young start-up rates across the globe with 40 per cent of them generating jobs.
Banerjee was speaking to reporters after the signing of a tripartite signing ceremony of the statement of intent between UNDP, International Youth Centre (IYC) and Malaysian Global Innovation and Creativity Centre (MaGIC), here today.
IYC is the implementing partner for KBS while MaGIC is the implementing partner for MOSTI for the Youth Co: Lab event.
Banerjee said the Youth Co: Lab platform presents a crucial point for young entrepreneurs to seek guidance to steer through the current difficult landscape.
“By supporting and guiding them through this difficult time, we contribute not only to rebuilding our economies but also to achieve a societal culture that puts a premium on protecting a more sustainable future for all,” he said.
With a strong focus on the networking and policy-making, Youth Co: Lab brings together youths including young entrepreneurs and social innovators, government officials, private sectors, and the United Nations (UN) representatives to foster an enabling environment for young change-makers to drive social change through innovation and entrepreneurship. — BERNAMA