The graduation ceremony for the Urban Youth Project, an initiative of the LUMS Center for Entrepreneurship (LCE) was organised on August 2, 2017 where 30 micro entrepreneurs received their certificates. The Urban Youth Project aims to increase employment opportunities for youth from low-income communities through the development of successful enterprises. The Project is funded by Citibank Pakistan and coordinated by the British Asian Trust. The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world.
LUMS partnered with two nationally renowned micro finance institutions, Akhuwat Foundation and Kashf Foundation to scout for potential beneficiaries possessing an entrepreneurial idea or those already running a small scale business within their communities. After an intense selection procedure, LUMS carried out a needs assessment exercise to identify priority areas where participants required extended support, based on which they developed a customised curriculum constructed on experiential learning. In the first batch, 30 micro entrepreneurs from various areas such as academia, beauty, fashion, transport and electronics were selected for the project.
Rector LUMS, Abdul Razak Dawood, and Karim Seifeddine, Head of Public Affairs (Middle East & Africa) at Citibank NA, Pakistan, distributed the certificates and highlighted the importance of supporting entrepreneurs for a real impact on the society. Addressing the audience, Mr. Seifeddine said, “I am delighted to see the impact that the Urban Youth Project has created for all these bright young entrepreneurs. Today, is not only a proud moment for all the graduating participants but also for us the stakeholders, seeing their immense growth and enthusiasm.”
“We leveraged on the due diligence carried out by micro finance institutions prior to lending loans or providing any capacity building support to their borrowers to ensure we only select participants who are genuinely committed to their idea and businesses,” stated Mr. Faisal Jalil Sherjan, Operations Director of the LCE.
Sharing her experience of the programme, Rabia Ashiq who runs a small academy on Bedian Road, Lahore said, “Before attending the training, I had no concept of business plans or basic accounting due to which I was running in a loss. Six weeks into the programme, I am already making profits. When I get done from LUMS, I go home and teach my father and brother what I learnt here.” Similarly, Shazia Zaffer a school owner on Chudrai Road, Lahore said, “The training programme changed my life and gave me confidence to face the world. Now I know I have LUMS to back me when I have to deal with parents and students.”
