Youth
Co:Lab will drive social innovation and entrepreneurship to address the unemployment
challenges faced by young people in the region
A regional program
that targets social challenges and unemployment by harnessing youth leadership,
entrepreneurship and innovation was launched by the United Nations Development Programme
(UNDP) in partnership with Citi Foundation.
The global youth
unemployment rate is currently over 13 percent*, that is about 71 million young
people, aged 15 to 24, are unemployed worldwide and about half of these live in
Asia Pacific.
In addition, the
Global Youth Survey 2017: Economic Prospects & Expectations study commissioned
by Citi Foundation found that of the 7,000 respondents polled, 69% had dreams
of starting their own business but only 44% were trying to do so, citing a lack
of education and skills and concerns of failure.
