Youth Business International (YBI) and the Citi Foundation renewed their commitment on youth business support programme. Youth Business Russia (YBI member) will be implementing the programme in Russia together with Impact Hub Moscow.
The new arrangement, as part of the global initiative by the Citi Foundation “Pathways to Progress”, will provide business skills training and upgrade for 4500 young people across Europe, Russia and Kazakhstan and create 1150 new jobs.
Moscow, December 23, 2019 — Youth Business International (YBI) and Citi Foundation announced a new grant arrangement on youth business support in Europe. The “Youth Business Europe” partnership started in 2015 and has been providing aspiring entrepreneurs with an integrated package of financial and non-financial support for strengthening and development of their businesses.
The programme includes business skills training, mentoring support and access to low-interest loans. For the moment, 24 000 young entrepreneurs have received support under the programme. They have either started or strengthened 5700 businesses. The programme helps young talented people in Europe to realise their potential though entrepreneurial activity.
The partnership between Youth Business International and Citi Foundation in Russia is being implemented through Social Impact Award, the programme promoting social entrepreneurship, implemented by Impact Hub Moscow and Youth Business Russia. As part of the partnership, the ‘Social Impact Award 2019’ alumni will receive continuous support through mentoring, live and online alumni meetings, individual expert advice upon request.
“Throughout the world, Citi is working hard for the benefit of the communities of its presence. Our social investments are addressing three key objectives: business development, providing jobs and financial literacy. We have been working with Impact Hub for 5 years already, and we appreciate our partnership for it supports young people aspiring to make the world a better place through implementing their initiates”, - as pointed Anna Samokhvalova, Head of PR at Citi Russia, Ukraine and Kazakhstan.
“Благодаря партнерству с МБР и Citi Foundation у выпускников программы Social Impact Award в России есть возможность продолжать работать с наставниками и опытными предпринимателями, после окончания бизнес-инкубатора, а также запрашивать экспертные консультации и участвовать во встречах сообщества. Мы также надеемся, что благодаря партнерству выпускники получат доступ к новым международным возможностям”, - прокомментировала соучредитель и директор Impact Hub Moscow Екатерина Халецкая. “Thanks to joint work of YBR and Citi Foundation, Social Impact Award alumni in Russia have an access to continuous support of mentors and shrewd entrepreneurs after graduation. They can also receive an expert advice and take part in the meetings of business community. We hope that the partnership programme will provide an access to new global opportunities for the alumni”, - Ekaterina Khaletskaya, Co-founder and Director of Impact Hub Moscow commented.
Key features and objectives of the partnership:
“Youth Business Europe” partnership was extended to include Russia and Kazakhstan;
The partnership includes YBI member organisations in 10 counties: Belgium (microStart), France (Adie, Positive Planet), Germany (KIZ), Italy (MicroLab), Ireland (Inner City Enterprise), Kazakhstan (MOST Business Incubator), Netherlands (Qredits), Russia (Youth Business Russia and Impact Hub Moscow), Spain (Youth Business Spain) and Sweden (Swedish Jobs and Society);
In the coming year, other 4500 underserved young people from member countries will complete entrepreneurship training;
○ 1000 young people will receive support in business start and development;
○ according to the organisers’ estimate, 1150 new jobs will be created;
○ a special attention will be given to women entrepreneurs;
A new “Young Entrepreneurs in Europe Awards” will be set up and showcase the success stories of young entrepreneurs starting their business from the scratch supported by the programme.
Impact Hub Moscow — social innovations and entrepreneurship support centre; builds an environment where social and ecological issues of today are being addressed through entrepreneurship. Since 2014, Impact Hub Moscow has been delivering training on accelerated business growth for aspiring social entrepreneurs, as well as the programmes on financial stability for non-for-profit organizations. Impact Hub Moscow supports the community of alumni and experts contributing to sustainable development. It is a member of Impact Hub world chain represented in 103 cities worldwide.
Youth Business Russia (YBR) (МБР) — supports young entrepreneurs wishing to start or grow own business. YBR forms the communities of young entrepreneurs of Russia and promotes the best practices of entrepreneurship support, including mentoring in entrepreneurship. The programme is being implemented in Russia since 2008 by a non-for-profit organisation International Business Leaders Forum, and is a certified member of Youth Business International.
Social Impact Award (SIA) — a programme implemented by Impact Hub Moscow. The programme has been working in 20 countries worldwide and was launched in Russia in 2014. During six years, the programme reached over 4 thousand people from 105 cities in the country. 123 teams received expert support, the winners got 2.09 million rubles for business start and access to finance. Among the winners are BuySocial, social entrepreneurs’ online shop; Motorika, manufacturer of bionic limbs; Charity Shop; Cocco Bello, manufacturer of creamed honey from Maly Turysh town in Ekaterinburg Region; “Svetly Gorod” (Cheerful Town), children’s rehabilitation and health services for infantine cerebral paralysis, autism, ADHD and arrested development in St Petersburg; CCOVER, manufacturer of beautifying decorative overlays for artificial limbs.
Youth Business International (YBI) — a global network of professional organisations covering over 50 countries worldwide, helping underserved young people to turn their ideas into successful businesses, to create jobs and to strengthen communities. The team’s vision is that youth entrepreneurship is recognised for driving sustainable economic development around the world, and all young people wishing to go into business are able to realise their potential. The network connects its members to exchange experience and work together to develop solutions for common problems. Citi Foundation is promoting economic development and improvement of living standards in low-income communities. They invest in efforts that increase financial inclusion, catalyse job opportunities for youth and reimagine approaches to building economically vibrant cities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill this mission and drive thought leadership and innovation.