Last week in Doha, Qatar the World Chambers Congress (WCC) hosted a competition that showcased new and innovative projects from chambers of commerce around the world.  Among the 25 finalists in the World Chambers Competition 2013 was the Islamabad Chamber of Commerce and Industry, which put forth its Youth Entrepreneurship Program for consideration.

As the first chamber of commerce in Pakistan to support an initiative focused on youth development and entrepreneurship, ICCI has established an Entrepreneurship Development Center  as well as a Young Entrepreneurs Forum.  In addition, ICCI is in the process of establishing a business incubation center and has encouraged youth to be an active part of the chamber’s leadership committees.  These initiatives are exactly the type of innovative programs that WCC aims to highlight in order to satisfy the new need of business communities around the world.

Read more about ICCI’s time in Doha here.

Washington, DC – CIPE released a new guidebook on youth entrepreneurship programs for chambers of commerce and business associations. Chambers of commerce and business associations play a pivotal role in supporting entrepreneurship; they are uniquely positioned between governments looking to create economic growth and the private sector desire to develop a new generation of employees. This new guidebook is a resource for chambers of commerce, associations, and other business-oriented groups seeking to address some of the obstacles that young people face as they attempt to enter the economy in their communities. By sharing practical lessons from around the world, it serves as a guide to develop or expand successful youth entrepreneurship and employment programs. Download a copy of the newly released Guide to Youth Entrepreneurship Programs for Chambers of Commerce and Business Associations or read more about it on the CIPE Development Blog.

Ecuador – Approximately 50 university students from throughout Ecuador gathered in Guayaquil for the second session of the CIPE-supported Emprendedores Ecuatorianos youth leadership and entrepreneurship program organized by Instituto Ecuatoriano de Economia Politica (IEEP). Business consultant Oswaldo Toscano presented on marketing tools for small and medium-sized enterprises (SMEs), and was followed by SME consultant Felipe Rendón. In one activity, students were divided into groups for a mock business plan competition where they worked through each aspect of business plan development. Students also had the opportunity to work one on one with Toscano and Rendón to hone their individual business ideas.

Continue reading ‘CIPE Entrepreneurship Update’ »

• Pakistan – With support from CIPE, the economic policy think tank PRIME has partnered with the Youth Economic Forum of the Islamabad Chamber of Commerce and Industry to launch a survey called “Youth Voices on Political Economy.” This survey of 1,200 young people, including entrepreneurs, seeks to evaluate their understanding of the economic and political issues facing Pakistan.
• Afghanistan – The Federation of Afghanistan Craftsmen and Traders (FACT) held a conference on access to credit for entrepreneurs and small and medium-sized enterprises (SMEs). Among the nearly 100 participants were representatives of the Ministry of Commerce, the Ministry of Finance, commercial banks, and leading figures in the business community. FACT outlined a set of policy recommendations to encourage the growth of business, including lowering interest rates on loans and easing collateral conditions. The Ministry of Economy plans to host a follow-up meeting to discuss how to move forward on these recommendations, and the bank officials have pledged to raise these issues at board-level discussions.
• Peru – Approximately 120 university students from throughout Peru gathered at the University of Lima for the third session of the CIPE-supported EmprendeAhora youth leadership and entrepreneurship program organized by Instituto Invertir. The top 10 business plan groups presented their plans to a jury at the beginning of the educational session. The jury, composed of Invertir staff, University of Lima professors, entrepreneurs, and sponsors, chose the three best business plans. These three groups will receive awards and additional training from Invertir after the program in an effort to help them grow their businesses and enrich their entrepreneurial knowledge.

Hernando de Soto to Deliver Keynote Address at CIPE’s Democracy that Delivers for Entrepreneurs Conference
April 9-10, 2013

Pakistan – CIPE Pakistan Deputy Country Director Hammad Siddiqui was in Islamabad to meet with local representatives of Global Entrepreneurship Week (GEW) to discuss follow-up plans for activities held during GEW 2012. It was agreed that CIPE will consider jointly hosting a conference of entrepreneurship teachers from across Pakistan to engage teachers in debates on how entrepreneurship education should be promoted in the country. During his visit to Islamabad, Siddiqui also met with the leadership of the Rawalpindi Chamber of Commerce to finalize plans for the next All-Pakistan Chamber Presidents’ Conference, scheduled for February 25-26. Currently, 22 chamber presidents have confirmed their participation.

Azerbaijan – The Entrepreneurship Development Foundation and the Baku Political Studies Program organized a three-day seminar outside of Baku for 35 Azerbaijani mid-career professionals to discuss the role of youth in promoting market-based economic reform. The purpose of the seminar was to encourage openness and knowledge-sharing amongst colleagues to build consensus on needed areas for reform. The seminar featured seven lectures by six different speakers, which included topics on the future of Azerbaijan’s economy, sustainability of extractive industries, and good governance structures, among others.

Azerbaijan – The Entrepreneurship Development Foundation, along with partnering organizations the Baku Education Information Center and the Baku Political Studies Program, held the first seminar in a 10-week-long course for two groups of 25 university-age Azerbaijani youth aimed to educate them on economic reforms and provide them with effective communications skills by using CIPE Development Institute materials and lectures. In the first seminar, participants watched a lecture given by Nobel Laureate Douglass North titled “Foundations for New Institutional Economics.”

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A delegation of young and aspiring entrepreneurs, led by the Young Entrepreneurs Forum (YEF) of the Islamabad Chamber of Commerce and Industry has recently participated in CAAYE Summit in Mumbai. This was a cross representation of entrepreneurs from across Pakistan, with delegates from Punjab, Khyber Pukhtunkhwa, and Sindh, who made their mark during the proceedings of the Summit.

CAAYE (Commonwealth Asia Alliance of Young Entrepreneurs) which is a Commonwealth Secretariat-supported initiative represents 8 countries from the Commonwealth Asia region, namely Malaysia, India, Singapore, Sri Lanka, Pakistan, Bangladesh, Brunei, Maldives. The focus of this year’s Summit was to share best practices and prepare recommendations for improving “access to finance” to young entrepreneurs.

Nearly 200 delegates from the 8 countries met for 3 days in Mumbai to network, build business linkages, conduct field studies, attend learning sessions and jointly prepare a set of recommendations to improve the ecosystem of youth entrepreneurship in the form of an official communiqué that will be submitted to member Governments through the Commonwealth Secretariat.

Continue reading ‘YEF Pakistan Youth Delegation Participates in Commonwealth CAAYE Summit’ »

On November 14th the Islamabad Chamber of Commerce and Industry (ICCI) joined the Center for International Private Enterprise and  Kauffman Foundation to celebrate Global Entrepreneurship Week.  Aiming to determine obstacles to entrepreneurship, ICCI gathered a large number of young entrepreneurs, established businessmen, and students to discuss key impediments to aspiring entrepreneurs.

Amid their discussion, many participants voiced the opinion that the main objective should be to foster an entrepreneurial culture among youth.  CIPE Deputy Country Director Hammad Siddiqui asserts that the only way Pakistan can take advantage of its bulging youth population and push through the hard times of a sluggish economy and few jobs is to provide an environment that encourages youth towards entrepreneurial careers.  Some attendees expressed the need for the curriculum in schools to stoke interest in students.  While this is absolutely a vital part of building an entrepreneurial ecosystem, it is also important to advocate on the policy side as well. Continue reading ‘Driving Youth Entrepreneurship in Pakistan’ »

Originally posted on the CIPE Development Blog

“Youth have inherent risk-taking ability but do not have the tools and techniques. Our labour force is expanding by 1.5 per cent per annum and there is a great need for job creators rather than job seekers.” Dr Ishrat Husain – IBA Dean and Director

One of the key factors in assessing a business friendly country is to notice the rate of entrepreneurship development. However, the Global Entrepreneurship Monitor (GEM) Pakistan Report 2010  places Pakistan well below many of its peers in this respect.

According to the GEM report, “The established business ownership rate in Pakistan is 4.7%, which is less than the average rate for factor-driven economies (12.6%).” The report also highlights the fact that since Pakistan’s Independence in 1947 from British India, successive governments focused on the development of large-scale industries both in the public and private sector, and policies to promote entrepreneurship and small businesses were neglected. Continue reading ‘Supporting the Next Generation of Entrepreneurs in Pakistan’ »

November 12th marks the beginning of Global Entrepreneurship Week, which is the world’s largest celebration of innovators and job creators who launch startups, bring ideas to life, drive economic growth and expand human welfare.  Participating in the activities, the Center for International Private Enterprise’s (CIPE) field office in Pakistan will host a number of group discussions across the country.  Targeting final year students and young entrepreneurs, the discussions will focus on determining the obstacles to entrepreneurship that exist and how to go about creating solutions. Sessions will be held in:

Karachi on November 12 at the CIPE Pakistan office.

Islamabad on November 13 & 14 in partnership with the Islamabad Chamber of Commerce and Industry

Peshawar on November 15 with a specific focus on gender in partnership with the Peshawar Women’s Chamber

Lahore on November 17 in partnership with Coffee Shop Gurus.

Originally posted on the CIPE Development Blog

According to the UNFPA, youth represents around 1.8 billion of the total world population. About half survive on less than $2 a day, while more than 100 million adolescents do not attend school. The countries which realize the importance of youth by emphasizing education and skills can turn youth assets into dividends. Fair and transparent systems help them to avail themselves of opportunities to contribute in the economic growth of a country.

Statistics show that in Pakistan, around 60 percent of youth (people below the age 25) constitute a mix of educated, uneducated, skilled, semi-skilled, and unskilled populations.  The ratio of school-going children is increasing but still a lot needs to be done. In the past 10 to 12 years a significant number of universities in the private sector have been established in addition to a few public sector universities. A large number of students are graduating every year but they have limited opportunities for employment in either the public or private sector. As a result, the number of unemployed young people is increasing every year.

To address these challenges, colleges and universities should start focusing on practical entrepreneurial education to help students to choose entrepreneurship as a career, both for their own sustainability and to provide jobs to others. Entrepreneurship courses should be introduced. The universities and business support organizations like Chambers and Associations should work closely to organize mentorship and entrepreneurship training programs and also benefit from the research projects of university students.

Continue reading ‘Youth in Entrepreneurship and Democracy’ »

Over the weekend, the Punjab Information Technology Board (PITB) hosted the first installment of its Plan 9 Tech Incubator in Lahore, Pakistan.  The event in Lahore was the first of several in PITB’s first national incubation competition.  Plan 9 aims to promote a new wave of technological entrepreneurship and act as a catalyst by providing an environment where start-ups can thrive.  The initiative is a joint effort between PITB and the Pakistan Software Houses Association for IT & ITES (P@SHA) to select the best ideas and help get them off the ground. Continue reading ‘Plan-9: Launching young entrepreneurs to success in Pakistan’ »