Each year, as many as 12 million young people in India enter the labor market seeking jobs. However, the Indian economy only creates about one million new jobs in the formal sector every year. To respond directly to these challenges, MasterCard partnered with the International Youth Foundation and the Community Collective Society for Integrated Development (CCFID) in 2012, and launched Young Entrepreneurs, a two-year initiative to increase support for youth entrepreneurship in India.
Operating in Delhi and Mumbai, the program provides youth with multi-faceted services aimed at helping them launch or expand their small businesses. Among other activities, Young Entrepreneurs offers participants business and life-skills training, access to financial capital through a revolving loan fund, ongoing technical assistance and links to mentors in the business community.