Over 200 participants from 20 countries and territories in Asia and the Pacific region gathered at the Summit, centred on the theme, ‘Inclusive Entrepreneurship,’ to celebrate and highlight the critical role of young entrepreneurs from diverse backgrounds in driving sustainable and equitable economic development and advancing the implementation of the United Nations Sustainable Development Goals (SDGs).
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| Photo: UNDP |
Youth Co:Lab Summit 2024 by the United Nations Development Programme and Citi Foundation was organized together with the Asian Development Bank (ADB), and the Department of Trade and Industry Philippines (DTI), and brought together participants including young social entrepreneurs, government delegates, private sector partners, investors, and other youth community partners also joining virtually. Held at the ADB Headquarters in Manila, the Philippines, the two-day Summit was a platform to champion inclusivity in entrepreneurship, promote youth-driven climate initiatives, and harness digital skills.
Alternō's innovative approach not only gained recognition but also made significant contributions to local communities. Their solutions are not just about reducing carbon emissions but also about improving the lives of people in these communities. "Participating in the Youth Co:Lab Summit has been a transformative experience," said Hai Ho, Co-Founder of Alternō. “As a VC-backed founder, I was deeply inspired by the incredible journeys of fellow social entrepreneurs who persevere against all odds. Their causes, bravery, and stories have given me renewed energy to face future challenges. I attended the summit seeking perspective, and I left feeling profoundly humbled, energized and motivated by everyone's collective passion."
Thien Ngo, representing the Institute of Innovation under the University of Economics Ho Chi Minh City, a leading supporter of youth entrepreneurship in Southern Viet Nam, delivered a compelling speech that resonated deeply with attendees. He shared his journey from a startup founder to a mentor, highlighting the challenges and triumphs of entrepreneurship. "Unicorns are mythical creatures, but momentum—that’s tangible. As we instill business momentum, we are building bridges between founders and their next milestone," Thien emphasized in his speech. He underscored the importance of nurturing young entrepreneurs and fostering a learning environment where every success and setback is a valuable lesson.
Other Youth Co:Lab Summit 2024 partners include the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the International Labour Organization (ILO), the Aspen Network of Development Entrepreneurs (ANDE), CVC Capital Partners, the Commonwealth Secretariat (CWS), EY, The Islamic Development Bank (IsDB), the Spark Project, and the StartupUp Quezon City and the Local Economic Investment Promotions Office of the Local Government of Quezon City.
In the past year, Youth Co:Lab has supported over 67 young entrepreneurs in Viet Nam, resulting in significant outcomes. The programme saw a 90% increase in participants' capacities in leadership, social innovation, and entrepreneurship. These efforts align with Viet Nam’s national development goals and demonstrate the powerful role of youth in driving positive change. Looking ahead, Youth Co:Lab in Viet Nam will strive to foster entrepreneurship, social innovation, and inclusivity among Vietnamese youths, accelerating the implementation of Sustainable Development Goals (SDGs). Key initiatives include the BASIC Roadshow, empowering young people aged 16-30 to lead inclusive projects; the National Springboard Amplifier, enhancing skills in inclusive leadership and Diversity, Equity & Inclusion; and a comprehensive study on Vietnam's youth entrepreneurship ecosystem to guide policymakers and support organizations.
“The achievements of our youth at the Youth Co:Lab Summit are a testament to the potential of Vietnamese young people to lead and innovate," said Mr. Bui Trung Hieu, Vice Director of Open Innovation and Technopreneur Institute (OITI). "We are proud of their contributions and are committed to supporting their continued success and to collaborating to promote national open innovation initiative in Viet Nam."
Youth Co:Lab, co-created by UNDP and the Citi Foundation in 2017, is the largest youth movement for empowerment, social entrepreneurship, equality, and social inclusion in Asia Pacific, and has supported young people in 28 countries and territories. Since its inception, activities supported by Youth Co:Lab have reached 280,300 participants across the Asia-Pacific region. Strong partnerships with key stakeholders, including the Ministry of Science and Technology, Viet Nam Chamber of Commerce and Industry, and various local NGOs and educational institutions, bolster Youth Co: Lab's success in Viet Nam. These collaborations ensure that young entrepreneurs have the resources and support needed to bring their ideas to life./.