Project to back entrepreneurs launched in Kolkata

Kolkata: The US consulate in Kolkata and Contact Base launched a youth entrepreneurship initiative —Y4BIZ (Youth for Business) in Kolkata on Tuesday. The website www.Y4Biz.com was launched by US consul-general Craig Hall and Contact Base director Ananya Bhattacharya.   

The Y4BIZ program aims to support a promising group of 50 young entrepreneurs and transform their business ideas from the initial stage to a sustainable business model. The 50 entrepreneurs will be selected by a rigorous screening process after the launch events in all four cities which is when online registration begins.

This will be followed by an online capacity building and mentoring program run by the IC2 Institute, University of Texas, Austin.

A group of ten mentors will also be selected from Eastern India and who will be trained at the Nexus Incubator Hub, which is housed inside the American Center in New Delhi. The mentors will work with the 50 entrepreneurs on a regular basis and through selected boot camps. Later the top 10 business ideas will be showcased at the American Center in Kolkata before industry leaders, investors and policy makers, to celebrate entrepreneurship and recognize the youth leaders.

The top three business ideas will have the possibility of being incubated at the Nexus Incubator Hub in New Delhi American Center. Director of the American Center and Public Affairs Officer of the U.S. Consulate General Kolkata Jamie Dragon said, “Youth entrepreneurship development is a proven strategy that positively impacts the lives of young people.”

This project seeks to foster a culture of entrepreneurship in eastern India and to strengthen linkages between American and Indian youth leaders.”