The application period for the International Youth Acceleration Programme “SCO Business Incubator” has officially closed. From May 19 to June 20, over 150 young entrepreneurs from Russia aged 20 to 40 submitted their applications as part of a competitive selection process.
“Our aim during the application campaign was to attract those young entrepreneurs who have already achieved significant success in implementing their business projects in Russia, whose companies are well-known across the country, and who are ready to scale up to international markets. We are pleased to see businesses that are already industry leaders among the applicants. The mentors now face a challenging task – to select the top five participants,” said Tatyana Seliverstova, Head of the SCO Business Incubator.
Twenty Russian mentors of the programme have begun evaluating the submitted projects. By July 15, they will finalize a list of five entrepreneurs from Russia who will participate in the SCO Business Incubator this year.
“The development of youth entrepreneurship is an essential element for strengthening cooperation across the SCO region and boosting the economies of its member states. The SCO Business Incubator, whose official partner is the Autonomous Non-Profit Organization “World Youth Festival Directorate” (ANO “WYFD”), serves as one of the tools supporting young entrepreneurs. Following the national selection process, five Russian finalists will join young entrepreneurs from other SCO countries to take part in the in-person programme, which for the first time will be held in two countries: in August in Omsk, Russia, and in autumn in Shanghai, China. Participation in the programme offers young people a unique opportunity to attract investment and build international partnerships for business expansion. This summer, the finalists will also take part in an online stage, which includes a series of masterminds and preparation for investment pitches,” noted Dmitry Ivanov, Director General of the World Youth Festival Directorate.
The programme is implemented with the support of the Federal Agency for Youth Affairs, the SCO Youth Council, the World Youth Festival Directorate, the Government of the Omsk Region, and the ANO “Leaders of International Cooperation”. Its goal is to boost international youth entrepreneurship, promote innovative projects, establish sustainable business connections, and expand intergovernmental cooperation within the SCO region. Stay tuned for further updates and the final selection results on the official platforms of the SCO Business Incubator.
Overview:
The World Youth Festival took place on March 1–7, 2024 in Sirius, according to the Decree of Russian President Vladimir Putin on the development of international youth cooperation. The WYF-2024 brought together 20,000 young leaders from 190 countries.
On the instructions of the President of the Russian Federation, the WYF will be held in Russia on a regular basis – once in six years. Also, every six years 10,000 young people from all over the world will get together at the World Youth Festival Forum, and in between, international themed assemblies for 2,000 participants will be held under the auspices of the WYF. The first Assembly is scheduled to take place in September 2025 in Nizhny Novgorod. Festival events of various formats will be held in Russia annually.
According to the instructions of the President of the Russian Federation on the preservation and development of the Festival legacy, the World Youth Festival Directorate continues the work aimed at strengthening international youth cooperation.
