Youi boosts support for young entrepreneurs with partnership extension

Youi boosts support for young entrepreneurs with partnership extension | Insurance Business Australia

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Youi boosts support for young entrepreneurs with partnership extension

Initiative’s application now open

Insurance News

By
Roxanne Libatique

Youi has declared a significant partnership expansion with Generation Innovation (GI), a not-for-profit entity focusing on entrepreneurial development among the youth.

This alliance represents a strategic move to back the aspirations of young business minds in Sunshine Coast and Noosa.

Generation Innovation Challenge

Generation Innovation is known for its GI Challenge, an annual entrepreneurial program that targets young individuals aged 15 to 21 from the Sunshine Coast and Noosa areas, aiming to transform their innovative business concepts into reality.

Youi boosts partnership with Generation Innovation

Boosting its existing six-year relationship with General Innovation, Youi has now doubled its financial backing, pledging $20,000 annually for a forthcoming three-year period. This investment, summing up to $60,000, is poised to significantly benefit local emerging talents.

The bolstered support from Youi has facilitated an increase in the GI Challenge winner’s prize to $10,000 cash, coupled with the addition of novel elements to the program. The timing of these enhancements coincides with the 10th iteration of the GI Challenge in 2024.

“We really admire the work GI are doing in the community in fostering pathways for the next generation and we are thrilled to be part of the program,” said Youi chief of people and reputation Russell Redsell. “This partnership will see us host regular mentorship activities such as intensive workshops and guest speaker sessions for young innovators at our Youi HQ in Sippy Downs.”

“Generation Innovation is all about helping young people to recognise at an early age that they too can turn their ideas into viable businesses,” said General Innovation director Emma Greenhatch. “Our program is that much more impactful because of Youi’s involvement and contribution, which includes mentoring, judging, and hosting our events.”

The initiative kicks off with an exclusive event at Youi’s premises on July 15, culminating in the Pitch Night on Oct. 2, where a young entrepreneur will seize the opportunity to bring their business vision to life.

Applications for the GI Challenge are currently open, with a deadline for submissions set for May 13, accessible through the Generation Innovation website.