The youth unemployment rate in Europe stands at 23.3pc as of August this year. In the UK alone, more than 740,000 young people are out of work – or 16.6pc – according to figures from the Office for National Statistics.
The solution to youth unemployment, according to OYW organisers Kate Robertson, chair of Havas, and former Havas ad man David Jones in 2010, is to inspire young people to work for themselves.
The Great Recession was a catalyst for the start-up trend. In 2006 there were 145,104 companies founded by young people in the UK. By 2013 it had jumped 70pc to 247,049.
To accelerate the pace of start-up creation, OYW, whose spokespeople include: Live Aid founder Bob Geldof; Kofi Annan, former secretary general of the United Nations; record-breaking yachtswoman Ellen MacArthur; and footballer Sol Campbell, brought together some of the most successful young entrepreneurs from around the world to inspire this next generation. Read more
