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2013-10-14

Scotland announces funding for promising entrepreneurs globally

Scotland’s External Affairs and International Development minister Humza Yousaf, who is in India till October 16 to highlight and strengthen Scottish education, business, tourism, cultural and diplomatic links with the country announced £5,500 of funding towards a global summit hosted by Power of Youth, a Scottish-based organisation.

Scotland’s External Affairs and International Development minister Humza Yousaf, who is in India till October 16 to highlight and strengthen Scottish education, business, tourism, cultural and diplomatic links with the country announced £5,500 of funding towards a global summit hosted by Power of Youth, a Scottish-based organisation.

 

Power of Youth, a social for-profit enterprise dedicated to supporting game-changing entrepreneurs by helping them be seen and heard across the globe will unite several of the world’s most successful young entrepreneurs at their fourth global summit in India this month from October 22-27 in New Delhi. The aim of the summit is to bring together 30 of the world’s most promising entrepreneurs to share their ideas, expertise and success stories.

 

The minister on Sunday met with some of the young Indian entrepreneurs who will be involved in the summit.

 

The event will provide a platform for emerging Scottish entrepreneurs to showcase their businesses and test and push their commercial thinking among a global network of peers.

 

The funding is the latest in a series of actions that the Scottish Government has taken to encourage youth entrepreneurship.

 

Speaking ahead of the New Delhi summit, Yousaf said, “Power of Youth is an inspiring and influential network engaging some of the brightest and most innovative minds around the world, many from or with strong links to Scotland. I am very excited to see what comes from next week’s summit.”

 

Arif Shafi and Humeera Qayoom, young entrepreneurs from Kashmir who have received support to set up sustainable small enterprises through the Scottish Government’s South Asia International Development Fund also met with Yousaf on Sunday.

 

“Scotland is a good global citizen, determined to play its part in addressing the challenges facing the world and helping some of its poorest people. We have demonstrated our commitment to doing that by increasing our international development budget to £9 million – a small proportion of which has supported Arif and Humeera to get their own small business ideas off the ground and contribute towards sustainable economic development within their community.”

 

“Today we extended that support, putting Arif and Humeera in touch with Power of Youth so that they too could access invaluable advice and expertise from some of their world-leading young entrepreneurs,” the minister added.

 

Adam Purvis, Director, Power of Youth, said, “Power of Youth was set up to identify authentic entrepreneurial role models that the next generation can relate to. By working with partners like the Scottish Government we are helping young people to succeed and to share their energy with other young people all over the world.”

 

Further, the support extended by Scottish government’s International Development Fund (IDF) of £2.4 million for projects in India was having a "strong and lasting" impact, Yousaf said earlier on Saturday. The IDF in South Asia is focused on three countries.

 

Projects supported by the Scottish IDF between 2010 and 2013 have trained more than 350 physicians and surgeons in diabetic foot disease management, helped more than 3,200 farmers develop better farming techniques, increase food production and secure higher prices for their products.

 

The funding also supported almost 200 young entrepreneurs in Kashmir in setting up their own small businesses. It also assisted around 30,000 women in expanding their businesses.

 

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