IEDC Challenge Summary

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http://www.challengefuture.org/teams/294/room/solutions/824




In a world where youth – defined by their credit ratings – face difficulty getting loans from established loan-makers (whether it be no loans at all or sky high interest rates), many personal development and social entrepreneurship projects slip through the cracks. As such, much talent and opportunities are lost, contributing to a growth in youth apathy.

“Micro-credits for Youth” seeks to address just this. Our vision is:

• To create opportunities for youth to be empowered to pursue their personal development objectives
• To encourage youth to think actively about their future and develop a sense of accountability
• To promote a culture of contributing to the community in business school students

By empowering youths with the means to achieve their dreams through the provision of low-interest loans, this project will provide opportunities for learning and development outside the traditional context. Whether it is attending conferences, starting a social entrepreneurship project or a business venture, the provision of the loan creates the platform for greater learning. In so doing, these recipients contribute both to their own personal development and more importantly to the sustainable development of society in the present and in the future.

However, financial constraints are hardly the only issue that is stopping youths from maximizing their potential. Experience and expertise are still lacking which led to a decision to collaborate with IEDC – a business school who has always gone beyond the role of the traditional educational institution and strived to be an agent of change. Students and faculty would be able to share their knowledge and experience with youths interested in their own development.

On top of serving as a middle man between socially responsible organizations who contribute funding and youths who contribute ideas, IEDC would provide the crucial training of mentors which would translate into these skills being passed on to the youth. This would also benefit business school students who will utilise their knowledge in a practical way that will provide sustainable benefit to the community.

Hence, IEDC would be achieving much by allowing their business students to develop into socially responsible individuals, contribute back to the community in the form of sustainable contribution to the community, and having a key role in shaping our youths - the future of the world.