Iloilo City, Philippines—The Department of Trade and Industry (DTI) launched its Youth Entrepreneurship Program (YEP) Bootcamp for Young Entrepreneurs (BYE) to prepare 30 young entrepreneurs in enhancing their business acumen in the three-day intensive training starting on 16 October 2024.

The YEP Bootcamp, a cornerstone of the DTI’s broader initiative to support young business owners, aligns with the “Bagong Pilipinas” banner that addresses economic inequality and uplifts the quality of life for Filipinos. By focusing on youth empowerment, the program seeks to cultivate the next generation of business leaders who will drive economic growth in Western Visayas.

DTI Region 6 Director Rachel N. Nufable highlighted the significance of the program. She said, “Our vision is to equip these young entrepreneurs with the essential tools and knowledge needed to scale their businesses effectively.”

During the expectation setting, participants expressed their eagerness to enjoy the program while building networks and connections for potential business partnerships. They also highlighted their desire to learn new technologies applicable to their businesses, improve promotion and marketing strategies, acquire new skills, and enhance their financial management abilities.

The comprehensive curriculum of the bootcamp addresses these expectations and the multifaceted challenges faced by young business owners. For three days, participants will delve into crucial areas such as building a strong business identity, applying design thinking principles, developing effective marketing strategies, and mastering financial management.

The program also emphasizes the importance of digital transformation and sustainable business practices, preparing these young entrepreneurs for the evolving business landscape.

Beyond theoretical knowledge, the bootcamp also offers hands-on experiences that allow participants to refine their business pitches, network with peers, and receive valuable mentorship from industry experts. This practical approach ensures that the young entrepreneurs can immediately apply their learnings to their existing businesses.

The YEP Bootcamp is part of DTI Region 6’s successful Youth Entrepreneurship Program, which has already made significant strides in empowering local youth. In 2023 alone, the program trained 332 young individuals across various backgrounds, including youth with disabilities, out-of-school youth, and in-school youth.

This bootcamp is the second activity under YEP, following the successful “Be Your Own Boss” training, which concluded in August 2024. To date, YEP has produced 361 youth graduates.

Upon completion, these young business leaders are expected to drive innovation, create employment opportunities, and contribute significantly to the sustainable economic development of Western Visayas.

The bootcamp is part of DTI Region 6’s efforts to boost the local economy. By supporting young entrepreneurs, the DTI aims to create a stronger and more vibrant business environment in Western Visayas. ♦

Date of Release: 18 October 2024

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