Added: Sep 29, 2021
Last edited: Sep 29, 2021
As the global economy now shifts to one that is more environmentally sustainable, emerging green markets present new opportunities for young entrepreneurs to launch businesses in sectors like renewable energy, waste management, green construction, and sustainable agriculture, and offer a potential solution for reducing youth unemployment while also advancing green economic growth.
This report shows evidence of entrepreneurial ecosystems in ten different countries and their capacity to both foster young green entrepreneurs and address persistent and urgent social and environmental challenges, identifying key challenges and opportunities for founding and scaling up businesses, challenges of incorporating and integrating environmental processes, and the difficulties to sell green products and services, in an effort to reduce their ecological impact and improve sustainability. A set of recommendations is proposed based on the case studies presented, which in many cases are considered in early stages and just emerging.
There is an increasing need for more and better employment opportunities for young people in order to overcome youth unemployment, underemployment, and decent work issues, particularly in the rural areas. Simultaneously, the planetary challenges, such as climate change and environmental degradation pose serious threats to the future of work and are predicted to exacerbate existing inequalities.
Promoting growth with a young perspective while at the same addressing environmental challenges could be a way to achieve Sustainable Development Goals (SDGs). Finding the right mix of policies and services that scales up support for young women and men to succeed as green entrepreneurs requires partnerships, coordination, the mobilization of resources, pathways to formalization, improved access to appropriate financial products, and best practices that are carefully adapted to different contexts and cultures.
Based on entrepreneurial ecosystems for ten countries (Bangladesh, India, Sri Lanka, Kenya, Senegal, South Africa, Zambia, Chile, Ecuador, Peru), the report identifies key findings related to finance, business development services, culture and policy:
-Develop and enhance educational policy and programming
-Develop preferential procurement policies
-Rethink policies regarding decent work
-Decentralise and simplify business registration procedures
-Incentivise green processes, products and technologies
-Promote media and awareness campaigns for green solutions
-Identify market demand for green products and services
-Develop access to affordable and appropriate finance
-Establish long-term business development services
-Establish partnerships and linkages
-Develop impact measurement tools
-Establish legal frameworks
Prioritise regenerative resources
Use waste as a resource
Rethink the business model
Strengthen and advance knowledge
Increase Awareness
Jobs
Well-being
Equality
Productivity
Innovation
Scalability
Reduce Emissions (SDG13)
Reduce Material Consumption (SDG12)
Minimise Waste (SDG12)
Reduce Energy Consumption
Infrastructure
Mobilise
Govern the Transition
Convene Towards Action
Incentivise
Direct Financial Support
Fiscal Frameworks
Public Procurement
Economic Frameworks
entrepreneurship
youth
green finance
entrepreneurial ecosystems