NCBA - National Cooperative Business Association

20/08/2024 | Press release | Distributed by Public on 20/08/2024 20:19

New business incubator will support the young entrepreneurs creating Timor-Leste’s future

The Women and Youth Creating Our Future project team at the launch.

NCBA CLUSA was thrilled to join the U.S. Agency for International Development (USAID) and Timor-Leste's Ministry of Industry and Trade in Dili last week to launch a new business incubator that will advance employment opportunities for Timorese young people, women and people with disabilities (PWDs).

As part of our USAID-funded Women and Youth Creating Our Future (WYCF) activity, the incubator is the next step in strengthening the capacity of Timor-Leste's Institute of Business (IOB).

Established in 2002 with support from NCBA CLUSA, IOB is a nonprofit social enterprise applying commercial strategies to its social mission to help youth, women, and PWDs become marketable professionals. With 100 full-time faculty, three Youth Hubs, and now a business incubator, IOB is one of Timor-Leste's leading educational and workforce development institutions.

USAID Timor-Leste and the country's Ministry of Industry and Trade were on hand for last week's launch. U.S. Ambassador to Timor-Leste, Donna Ann Welton, said the new business incubator provides space for young entrepreneurs to access training, mentorship and networking while acquiring the skills they need to succeed in a competitive market.

"The USAID Women and Youth Creating our Future activity is a testament to our commitment to empowering young people, women and people with disabilities in Timor-Leste, helping them create employment opportunities and drive positive change in their communities," she said.

Filipus Nino Pereira, Timor-Leste's Minister of Industry and Trade, said the country "needs young entrepreneurs who are dynamic, creative and innovative to grow and diversify our economy." That requires training and opportunities, he added. "This incubation center is a key tool to develop the capacity of our youth-especially students who want to create their own businesses."

From left: Alex Serrano, NCBA CLUSA's Senior Vice President for International Development; and Filipus Nino Pereira, Timor-Leste's Minister of Industry and Trade.

With 70 percent of its population under the age of 30, Timor-Leste is among the youngest countries in the world. This creates a unique opportunity to support young people in leading productive lives where their voices are heard and they can contribute to their country's development, said Alex Serrano, NCBA CLUSA's Senior Vice President for International Development.

"Young people are Timor-Leste's greatest asset," Serrano said in remarks at the launch. "[They] can drive more inclusive economic growth and define the future of the country."

By the end of the five-year WYCF activity, NCBA CLUSA anticipates that 22,000 young people, women and PWDs will gain market-relevant skills, secure formal jobs or establish and grow job-creating enterprises across Timor-Leste.

Already, the activity has established three Youth Hubs across the country, trained close to 3,000 people in employment, entrepreneurship and foundational skills, Serrano said. During the activity's pilot, 135 students secured internships with private partners, and 41 students-45 percent of whom are women-found employment, he added.

"Through this business incubator, [the activity] will not just prepare youth for the job market, but also provide young Timorese entrepreneurs with the skills to forge their own paths and contribute more actively to Timor-Leste's future," Serrano said.

NCBA CLUSA began operations in Timor-Leste in 1994 through a partnership with USAID and has more than 25 years of continuous presence and success in strengthening Timorese organizations. Our track record of successful programs funded by USAID, USDA and New Zealand have resulted in sustainable, local entities, including the Institute of Business, Cooperativa Café Timor and other enterprises.

For more than 70 years, NCBA CLUSA has worked in 100+ countries in Africa, Latin America and Southeast Asia, building resilient communities, creating economic opportunities and strengthening cooperatives and producer organizations. Our work empowers smallholder farmers, women and youth in the areas of food security and nutrition-led agriculture, climate-smart agriculture, market development, natural resources management, positive youth development, gender equity and enabling regulatory environments.