YOUTH PROJECT: FROM IDEA TO REALIZATION
Abstract
The article examines the problems of implementing business ideas of young people related to today's challenges and risks. The multi-level system of financing and supporting youth entrepreneurship, which acts as a powerful and significant component of general social progress, is analyzed, in particular, the semantics of the concept is revealed, the main directions of the development of the investment and innovation environment, the ratio of demand and supply regarding the introduction of modern goods and services in online format are highlighted thanks to the progress information technologies, advantages (creativity, motivation, courage, adaptability, innovativeness, speed, technological literacy) and disadvantages (lack of experience, insufficient network of contacts, limited resources, low level of risk management, lack of mentoring) of youth business determined by subjective and objective factors, the main types of necessary assistance are determined (scholarships and grants, subsidies, low-interest crediting and loans, accelerators and incubators, investments, crowdfunding, venture capital, provision of start-up capital, expert consultations, professional mentoring, skills and abilities in managing business projects, entrepreneurial culture and education) in the implementation of ideas, successful functioning of startups, examples of effective support for the activities of such companies in domestic and foreign countries are given (Startup Ukraine, Association of Young Entrepreneurs of Ukraine (AMPU), Ukrainian Entrepreneurship Development Fund, Available loans 5-7-9%, International Renaissance Fund, American Agency for International Development (USAID), EU4Business, Business Incubator operated by the Office of Technology Transfer and Economic Development (TTED) at Missouri University of Science and Technology (Missouri S&T), Darebin Enterprise Centre Ltd (DECL), Student entrepreneurship project, SUREstart Business Incubators, The Entrepreneurship Cell of IIT Madras), the potential of Ukraine in creating a stable economic space for the development of youth entrepreneurship, which will ensure new jobs and the prosperity of small and medium-sized businesses, has been proven.
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