BARMM youth nudged to exploit Industry 4
Department of Trade and Industry believes that you’re well-positioned to become the successful entrepreneurs of tomorrow
Young entrepreneurs in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) should break through barriers and challenges brought by the pandemic as they should take advantage of technologies under Industry 4.0 that is sparking innovative business models and digitization in doing commerce.
On Monday, Trade Secretary Ramon Lopez, during the virtual Youth Entrepreneurship Program (YEP) Launch in the BARMM, said the DTI supports young people of Bangsamoro and will continue to empower them in providing education and confidence to innovate so that these young entrepreneurs can carve their entrepreneurial path to success.
“Department of Trade and Industry believes that you’re well-positioned to become the successful entrepreneurs of tomorrow. You’re hungry for a better life and you feel you can create a better world for yourselves. You’re well-versed with today’s technology. You’re creative and innovative in business. And you’re sharp and smart enough to come up with relevant solutions to the problems challenging our society today,” Lopez said.
Newer models for business
He maintained that young entrepreneurs of BARMM also have the advantages, as they have the chance to reinvent and create newer business models such as those used by Google, Facebook, Grab and Angkas; which were all developed by young people.
“But you also need to remember that the key to entrepreneurial success is continuous innovation and creativity. And in the wake of the pandemic, you w ill need every advantage of the technologies of Industry 4.0 is sparking innovative business models and digitalization in doing business to break through barriers,” he stressed.
He said YEP was also launched in the Bangsamoro to develop the region’s entrepreneurial skills further, taking the next step on their journey to become smarter entrepreneurs, and encourage and embolden the participation of micro, small and medium enterprises enablers in supporting youth entrepreneurship development and promotion in the said region.
As of 15 July 2021, YEP has already assisted 14,525 young entrepreneurs and the DTI has partnered with USAID on their Opportunity 2.0 program, which has the aim of providing education, employment, and livelihood needs of our out-of-school youth.
USAID provides help for youth
Through the partnership, the entrepreneurship activities of Opportunity 2.0 is integrated into the YEP implementation.
“For those interested in the new economy, please join our start-up economy and be linked to our start-up ecosystem from our acceleration programs, mentors, co-working spaces, start-up networking events, competitions, and possible venture funding,” he urged the youths of BARMM.