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KPC hosts workshop to empower entrepreneurship among the youth

28 Nov 2023

To assist APO members in developing strategies to support youth entrepreneurship, the Korea Productivity Center (KPC) conducted a workshop on Supporting Youth in Entrepreneurship, 7–10 November, in Seoul. The four-day workshop was attended by 19 participants from 16 APO member economies, comprising young entrepreneurs, government officials, and policy researchers as well as representatives from innovation and youth entrepreneurship institutes. Facilitated by three resource persons from Japan, the ROK, and UNDP, the workshop shared best practices and key features of successful youth entrepreneurship policies and programs. The participants engaged in discussions and were guided in formulating strategies and action plans tailored to their national contexts.

Recognizing the pivotal role of innovation and entrepreneurship in enhancing productivity, the workshop highlighted the untapped potential of the youth among APO members. Despite being home to the largest youth generation in history, their capabilities often remain underutilized in economic activities and innovation systems. The workshop emphasized the need for enabling systems providing young individuals with the resources necessary to unleash their potential. Critical elements identified included funding and financing mechanisms, training initiatives, and networking opportunities. With a comprehensive agenda covering topics from innovation and entrepreneurship to skill development and training for young entrepreneurs, the workshop paved the way for more innovation-led productivity growth.

Site visits to the Global Startup Festival COMEUP and Gyeonggi Center for Creative Economy and Innovation enriched participants’ understanding of practical methods to encourage innovative youth entrepreneurship. The APO resource persons that the insights from the workshop will help member economies devise effective strategies, strengthen innovation ecosystems, and encourage young entrepreneurs, ultimately contributing to sustained innovation-led growth in the region.

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