News

Youth Business Jordan
Creating new opportunities for Jordanian young entrepreneurs
17/02/2016

On 22 December 2016, the Jordan Micro Credit Company (Tamweelcom) and Youth Business International (YBI) launched the Youth Business Jordan (YBJ) initiative to support young entrepreneurs.


Youth Business Jordan (YBJ) is a programme formed through the partnership between Tamweelcom and Youth Business International (YBI) to support young startup/business owners from both genders between the ages of 18 -35 years old, to start and sustain their startups. 

 

It is the first time in Jordan that an entrepreneurship programme specially focused on 18-35 years old population support. Such support is presented through providing them with the sufficient training, funding and mentorship. 

 

Youth Business Jordan in addressing mainly unemployed youth, will help young startup/business owners to create new jobs for themselves and for their community members, and will ultimately help at reducing unemployment rate as well as poverty.

 

According to a Youth Business Jordan promotional video, there were around 1.25 million young Jordanians between the ages of 18 and 35 in 2014. If 5 per cent of them had innovative ideas, Jordan would have 62, 500 potential projects to implement. Assuming that only 5 per cent of these potential projects were supported by a funder, 3,125 new projects would be implemented. If each project hired only two people, Jordan would have 6,250 new employed young people.  

 

As Mr. Mustafa Naser Al Dein of Tamweelcom’s Board of Directors stated, “Through YBJ, Tamweelcom will be able to address the employment challenges facing Jordanian youth by offering support at every level, from providing a platform for them to present their ideas, all the way through to providing technical training, coaching and mentorship to help them sustain their businesses and grow from the startup phase. This, in the long term, will have a strong socio-economic impact, and lead economic advancement at a national level.”

 

Backed by the success of Tamweelcom in supporting and incubating innovative entrepreneurs in Jordan since 1999, YBJ will be supporting 50 young entrepreneurs alongside a pool of almost 50 mentors in the next 12 months and it will encourage female entrepreneurship as well.

 

 

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