CAAYE

COMMONWEALTH ASIA ALLIANCE OF

YOUNG ENTREPRENEURS

The Official Communique of the Commonwealth Asia Alliance of Young Entrepreneurs

Signed in Mumbai, India at the CAA YESummit on this fifteenth day of December, 2012

200 young entrepreneurs met under the umbrella of the Commonwealth Asia Alliance of Young Entrepreneurs (CAAYE) in Mumbai from December 12th .to 15th 2012. This first edition of CAAYE Summit has built on the dialogue begun in New Delhi India in February 2012 and continued in Kuala Lumpur, Malaysia in July 2012 to develop concrete proposals for the Youth Ministers who are meeting on 15 - 19 April, 2013 at Papua New Guinea .These proposals aim to unfold the potential of the young entrepreneurs to strengthen the economic and social fibre in all CAAYE Countries (Bangladesh, Brunei, India, Malaysia, Maldives, Pakistan, Singapore & Sri Lanka) Through this communique, the CAAYE proposes actions and a process to establish a template that the Governments of member Countries could endorse in the summit in Papua New Guinea to establish and encourage an effective entrepreneurial ecosystem across all Countries of the Commonwealth Asia Region.

Working Together for Creating an Effective Entrepreneurial

200 young entrepreneurs young entrepreneurs

Eco System
in Mumbai (representing

expressed at the 2012 CAAYE Annual Summit

of Commonwealth

Asia Countries) call upon Commonwealth

Asia Governments

to endorse the following four-point plan that will place entrepreneurship the forefront of economic, cultural and social renewal and to: 1. 2. 3. 4.

and access to finance at

Commit to a Process of Dialogue and Ongoing Conversations Ensure Young Entrepreneurs are Supported by Conducive Entrepreneurial Ensure a Supportive Entrepreneurial Culture Promote a System whereby to Critical Mass Entrepreneurs

Ecosystems

Have Access to Financing from Youth Start-up

1. Commit to a Process of Dialogue and Ongoing Conversations - Commit to dialogues with organizations that represent young entrepreneurs in their respective countries on the entrepreneurial ecosystems including interactions on the entrepreneurial eco~ystems and challenges facing young entrepreneurs - Explore the issues of mutual international collaboration interactions in their respective countries and

and concerns to map out a path for regional

2. Ensure Young Entrepreneurs are Supported by Conducive Entrepreneurial Ecosystems - Improve the ease of doing business including quick and single window approach for all startup processes - Encourage youth startups and business growth through favourable policies and cross border investments and consistent regulation & tax

Bring all ecosystem

stakeholders

(namely

entrepreneurs,

research

& development

centers,

incubators, consultants, large companies, education, higher education, entrepreneurial vocational and lifelong training systems, local authorities etc) together to develop growth strategies; - Identify & measure the impact of policies that support young entrepreneurs and take measures to address and improve any issues that are identified

3. Ensure a Supportive Entrepreneurial Culture - Design & implement education programs, workshops, curricula that inculcate entrepreneurship
all levels of education - Devise and implement specific need based entrepreneurship training for the disadvantaged - Develop training programs on entrepreneurship for all age groups - Promote and support entrepreneurship through mass media and entrepreneur movements youth

at

4.

Promote a System whereby Entrepreneurs Have Access to Financing from Youth Startups to Critical Mass

- Encourage the availability of incentivised and merit based access to finance for youth startups -Encourage a minimum percentage of every Commercial Bank's total loan portfolio as mandated for disbursement to youth startups -Explore joint public and private investment opportunities to finance entrepreneurial business growth - Strengthen policies and incentives that encourage the financing of innovation - Ensure better publicity for existing funding programs for youth entrepreneurship The CAAYE proposes to the leaders of Commonwealth Asia to begin the process to develop an action plan for consideration at the next Commonwealth Heads of Government Meeting. An interim progress review will be organized in Islamabad, Pakistan in June 2013 with the CAAYE repres~ntatives. Young entrepreneurs are eager to contribute to the prosperity and growth of the countries Commonwealth Asia Region and have faith that the Ministers will endorse the ideas outlined communique. of the in this various stages of

Communique finalised at the Commonwealth Asia Young Entrepreneur Summit On the Fifteenth day of December 2012, Mumbai, India

On behalf of Commonwealth

Asia Alliance of Young Entrepreneurs

-------D-~~-h-a-n-d-a-n-i 12J.... / President, CAAYE

L .

-------

COUNTRY

ORGANIZATION

SIGNATURE

BANGLADESH

BAN

BYLC
G LAD E

Youth Leadership center

Organization Center

Name: Bangladesh Youth Leadership

Represented By:

Ejaj Ahmad

BRUNEI

Young Entrepreneurs AssoclalJon of Brunei

Organization of Brunei

Name: Young Entrepreneurs Fatin Arifin

Association

Represented By:

INDIA

Young Indians
1'W*".!~I"W#lr;91

y.

Organization

Name: Young Indians

Represented By: Srikant Suryanarayan

,....,

PUGM
MALAYSIA
" ~ ~. I J1.ll.1rSlla4DI~1T.Sf.\1W1.\r{,'.J5SOCU1lOJ (f4Ji.II-Mli

Organization Association

Name: Malaysia Graduates Entrepreneur Muzamir Mustafa

Represented By:

MALAYSIA

JC'<;...
Petaling Jaya

Organization Petaling Jaya

Name: Junior Chamber InternationalMohamed Afandi

dJ,J

Represented By: Nurul-Huda

MALDIVES

JC'~
Maldives

Organiz.atio Maldives Represented By: Aminath Shifaza

PAKISTAN

Young

Islamabad Chamber of Commerce & Industry

Organization

Name: Y ung Entrepreneurs

Forum-

Islamabad Chamber of Commerce ~epresented By: -Snaban Khalid

& Industry

SINGAPORE
Singapore Indian Chamber of Commerce & Industry

Organization

Name: Singapore Indian Chamber of

Commerce & Industry Represented By: R Narayanamohan

FCCISL
~ SRI LANKA ~ ~

sSri
': Lanka Org nization Name: Federation of Chambers of Commerce and Industry of Sri Lanka Represented By: Krishantha Wisenthige