Saturday, October 16, 2021

Promoting social entrepreneurship and community welfare, STEP awards $30000 to social startups in Pakistan - DAWN.com

Last updated Wednesday, October 13, 2021 06:58 ET , Source: TopWireNews

EYDS, Phillips Morris Pakistan and SEED have partnered to up employment opportunities in Pakistan.
Entrepreneurship and Youth Development Society (EYDS) along with Phillips Morris Pakistan and SEED Ventures launched a six month long project, Social Technology Entrepreneurship Program (STEP), aimed at nurturing budding social entrepreneurial ventures.
The program identified young social ventures utilising technological tools to address socio-economic issues while proposing business process innovations.
In the past 1.5 years, the world has faced unprecedented challenges due to Covid-19, changing the landscape of work, technology and society.
Recognising the potential of tech-empowered social ventures in promoting employment, alleviating poverty and mitigating social and economic challenges, EYDS decided to boost 40 local start-ups by young people who have innovative ideas to counter socio-economic problems within society.
Why social entrepreneurship?
According to the Labour Force Survey, unemployment rate for the year 2020-21 has been estimated at 9.56 per cent; with 6.65 million without an income source.
The unemployment rate amongst youth and degree-holders is especially high.
The highest overall unemployment rate, 11.56 per cent, is found among the age group of 20-24 years. Graduates with professional degrees comprise thrice the overall unemployed segment.
Hence, entrepreneurship allows individuals to start their own ventures as well as create employment opportunities for...

Read Full Story: https://www.dawn.com/news/1651007/promoting-social-entrepreneurship-and-community-welfare-step-awards-30000-to-social-startups-in-pakistan

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