Youth entrepreneurship is key to tackling the pandemic-induced unforeseen rise in unemployment while advancing the attainment of Sustainable Development Goals (SDGs), experts said last Thursday.

Innovative business solutions can bring sustainable economic growth for the country, they said at the closing of a three-day 'Youth Co: Lab Bangladesh National Springboard Programme 3.0', organised by the United Nations Development Programme, Citi Foundation and ICT Division.

Running a virtual boot camp under UNDP experts, the event awarded five start-ups from among 13 social enterprises for their promise of 'significant social impact at the community level for attaining the SDGs'.

Of the winners, AmarLab combines healthcare and technology to provide end-to-end diagnostic services while feminist organisation Kotha aims to tackle the culture of gender based violence through primary interventions.

Of the rest, Liter of Light Bangladesh focuses its research on renewable energy lighting solutions, online platform Mechanic Koi provides 360-degree vehicle solutions while ReLeaf focuses on urban gardening.

The local winners will now go on to contest at a global level with competitors from 26 countries.

"We are constantly impressed by the innovation of our young Bangladeshi entrepreneurs and their endeavours to address the SDG challenges," said N Rajashekaran, Citi country officer for Bangladesh. 

"Through Youth Co:Lab, we are working closely with the start-ups in order to harness their spirit and inspire them to reach new heights every day."

He said Citi Foundation was proud to join the movement and work on solving some of the most crucial social and economic challenges.

"One cannot help but take note of the rapidly increasing numbers of youth led start-ups in Bangladesh, catalysed by Digital Bangladesh," said Sudipto Mukerjee, resident representative at UNDP Bangladesh.

"To my mind, this is a clear signal that a large part of both the Covid response and recovery will be youth led.

"And that if systematically supported with a more enabling ecosystem, will feed further into meeting the other development aspirations of Bangladesh such as LDC graduation and successful achievement of Agenda 2030," he added.

Mukerjee said Youth Co: Lab would contribute not only in rebuilding economies but also to achieve a more sustainable future for all.

Co-created in 2017 by the UNDP and Citi Foundation, Youth Co:Lab aims to establish a common agenda for countries in the Asia-Pacific region to empower and invest in youth.

The hope is for them to accelerate the implementation of the SDGs through leadership, social innovation and entrepreneurship. Zunaid Ahmed Palak, state minister for ICT, also spoke at the event.