Iringa Youth Entrepreneurship Competition
(IYEC) is the business idea competition established by Tujiajiri NGO to create
and foster youth enterprises in Iringa region that will increase local youth employment.
The competition is focused on Iringa residents especially youth and women, encouraging
them to develop effective business ideas. The competition is focused on
determining good and effective business ideas, followed by developing those
ideas by working with the creators/ innovators of the respective business
ideas. The competition is based on creative and innovative business ideas
generated by youth in Iringa region, which comprises of four (4) districts: Iringa
Rural, Iringa Urban, Kilolo and Mufindi.
The IYEC is a competition for
youth in Iringa region on Business ideas and entrepreneurs skills from emerging
economies districts. Aspiring innovators (youth and women) submit their ideas
by startups online in an application consisting of an executive summary of the
idea and the actual business idea description. Their applications are then
reviewed by experts and voted on by the judges who are experts in specific
fields, in order to determine the finalists. Thirty finalists receive an
all-expense paid trip to Iringa town (IYEC) so as they can showcase their ventures
and also receive intensive training.
IYEC
is appropriate for youth who are interested in starting their own business or
who live in areas with either an unstable formal economy or an un-established
informal sector. It offers valuable skills through innovation and development
of business ideas that can be applied in various life pursuits.
Established in 2014, IYEC, which
is supported by private businesses, investors, foundations, colleges and
universities, public entities, and nonprofit organizations, experiences
good development in terms of local community participation in different
organization such a programs like
entrepreneurship Trainings and effective resources utilization.
According to National Bureau of Statistics (NBS) In Tanzania, about 800,000 people enter the labor market each year, yet the
government is only able to absorb around 40,000, which is only about 5 percent
of the newly available workforce.
Iringa
Youth Entrepreneurship Competition (IYEC) is appropriate for youth who are
interested in starting their own business or who live in areas with either an
unstable formal economy or an un-established informal sector. It offers
valuable skills that can be applied in various life pursuits. Whether or not
they start a business, youth who will participate IYEC program and receive one
week comprehensive entrepreneurship training program gain:
•
Leadership and management skills
•
Business management skills
•
Networking experience
•
Knowledge about money and financing
•
Confidence
•
Critical thinking skills
•
Planning and development skills
Youth
entrepreneurs exhibit many of the same characteristics as adult entrepreneurs:
vision, determination, risk taking, resilience, problem solving, and
creativity. They are full of new ideas, willing to collaborate with others, and
eager to make a positive difference. Capitalizing on their ingenuity can foster
strong programs and productive businesses, while positively changing their
lives, their communities, and the local economies.
While
all new entrepreneurs face challenges, youth entrepreneurs confront particular
difficulties. Tujiajiri NGO research has
shown that youth-led businesses often lack:
·
Diversity—business activities are often
within a narrow range of sectors
·
Access to suitable office, production, or
retail space
·
Job creators mindset
Public support (
conducive public youth development policy) 
Prepered by; Victor A Byemelwa
Project coordinator
