Jakarta, Indonesia, September 19,, 2019 – The United Nations Development Programme (UNDP) and Citi Foundation (Citibank), with support from the Creative Economy Agency (BEKRAF), today held the second year of a youth entrepreneurship initiative, Youth Co: Lab, in Indonesia’s city of Balikpapan, bringing together some of the nation’s social entrepreneurships.
From waste management digital application developer to eco-tourism operator in a far-flung island, this year’s Youth Co: Lab sees a gathering 15 youth enterprises from outside the main island of Java. Selected out of hundreds of applicants, they represent some of the most innovative youth social entrepreneurs with the most potential for scaling-up.
The 2nd year of Youth Co: lab focuses on social enterprises that support the achievement of the Sustainable Development Goals (SDGs) with goals no 3 (Good Health and Well Being), 7 (Affordable and Clean Energy), 12 (Responsible Consumption and Production), 13 (Climate Action), 8 (Decent work and Economic Growth), and 14 (Life Below Water).
Director, Country Head of Corporate Affairs Citi Indonesia Elvera N. Makki said, “Youth Co:Lab acts as a catalyst for the development of innovative ideas to tackle social problems. Initiated by UNDP and Citibank, the program brings together governments, private sector, incubators and other key players from the entrepreneurship ecosystem to create an enabling environment for youth-led social enterprises to generate sustainable impact in their communities, in order to achieve Sustainable Development Goals. This is in line with our mission of enabling growth and economic progress, not only to our clients, but also to the communities where we operate. ”
UNDP Indonesia’s Innovative Financing Lab is taking the lead of the Youth: Co Lab, with mentorship and support from Citibank and BEKRAF. The 15 selected participants will receive practical training and mentorship in digital marketing, business strategy, design-based thinking and planning, and legal guidance among others from September 16th until September 22nd, 2019 in Balikpapan. A leading incubator in West Java, The Local Enablers will also guide the mentorship programme.
The winners of the 2nd Youth Co:Lab will be announced on October 27-28, 2019, during a national dialogue in Jakarta where the participants will be connected with prospective investors, venture capitalists, mentors and public audience.
“Indonesia should take advantage of its youth demographic dividend to push young entrepreneurs to contribute to the country’s economic transformation. And in the spirit of SDGs’s no one left behind, UNDP believes that Indonesia youth, particularly from those outside the main island of Java, need to be included in the country’s transformative process. In that context, we’re proud to bring the selected youths under Youth:Co Lab with greater opportunities on entrepreneurship,” said Muhammad Didi Hardiana, Team Leader Innovative Financing Lab.
Previously held in Bali, Youth Co:Lab had empowered 15 participants, help 81 people to be employed, received Rp. 294,8 million investment, reached 650 beneficiaries, and received 3 awards during the Youth Co:Lab Summit 2019 which was held in Hanoi, Vietnam . One of the awardee is Luh Rika, the 2nd winner of Youth Co:Lab that created Pandoo, a social enterprise focusing on empowering young people through digital marketing and tourism. Through this startup, Rika successfully achieved the award of “Best Solution for Youth Employment” from Youth Co:Lab Summit 2019. Besides Rika, Youth Co:Lab also have the other two winner, Yudha Abdul Gani that created KantungDarah.com,online blood bank in Ambon, and Indra Darmawan from Huma Bahijau,a moringa tea producer in Central Kalimantan.
For more information, please contact:
UNDP Indonesia’s Innovative Financing
UNDP Indonesia Communication Specialist, Tomi Soetjipto Suryo.email@example.com
Head of External Communication
Citi Indonesia (Citibank N.A., Indonesia)