Empowering Young Entrepreneurs: Strategies for Fostering Innovation and Entrepreneurship

Abstract

This paper discusses innovation and entrepreneurship in the effective empowerment of young entrepreneurs initiated to inquire into the extent to which diffusion of education and supporting systems contributes to laying the base of entrepreneurial skills within youth in a country. The current paper empirically probes into the impacts of entrepreneurial education and legal and financial frameworks on youth entrepreneurship. It also looks into long-run impacts of entrepreneurial initiatives as well as governmental and/or private interventions. Thus, this study is bridging the gap between theoretical postulates and practical realities in the sphere of entrepreneurship. Further findings indicate that education leads to the formation of entrepreneurial intentions if accompanied by regulatory conditions and access to finance and mentorship. Policymakers should not only promote a vibrant start-up ecosystem but also ensure that pedagogy, regulatory reforms, and incentives are geared toward the simultaneous promotion of such an ecosystem.

Received: 15 January 2025 / Accepted: 18 March 2025 / Published: 25 March 2025