Young entrepreneurs working to build high-growth businesses in the ACT are set to receive support through a new program.
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The Youth Entrepreneur Summer Session will see young entrepreneurs hosted for three months at the business incubator Entry 29, which provides exposure and support through the CBR Innovation Network and other innovation and entrepreneur communities.
The program will be launched by ACT Deputy Chief Minister and Treasurer Andrew Barr on Wednesday.
"A diverse and innovative economy needs a highly skilled workforce to support it and programs such as YESS will help to further develop Canberra's economic base," Mr Barr said.
"Canberra has the opportunity of becoming Australia's start-up capital and I look forward to the YESS teams developing prototypes of their innovative products, working alongside other Canberra start-ups at Entry 29 this summer."
CBR Innovation Network chief executive Sarah Pearson said the network aimed to connect entrepreneurs and small companies with what they needed.
She said the network also helped with promotion and assisting businesses to grow.
Dr Pearson said it could be challenging for owners of start-ups to know where to go for help to grow their business.
"If you're going to start a business, how do you do that and once you've done that where do you get money from, how do you get access to customers, how do you learn how to be a company and manage your HR and your finance and that sort of stuff so I think those are some definite challenges," she said.
Dr Pearson said about 20 young people would participate in the youth entrepreneur summer school.
The program is aimed at 18 to 25 year olds.
Dr Pearson said it was important to nurture young entrepreneurs and innovators in the ACT.
"I think young people are really seen as an alternative employment route - they're pretty excited about what they can do, they're seeing what's going on with a lot of apps and online stuff," she said.
"There's a bit for a buzz around youth entrepreneurship I think plus they don't have the responsibilities older people have so it's possibly a little bit easier to take the risk and say 'You know what, I'm going to give this a go'.
"But that's not to say middle-aged and older people can't be entrepreneurs too. It's not trying to lock them out, but we do have a program specifically aimed at youth because they are a little bit different."
Participants in the YESS program have been awarded a seed grant as part of Innovation ACT 2014.
The first group will start the program on December 8.
