Starfire Charity Foundation supports the development of innovative projects that would drive financial freedom for youth to promote community development. This organization has been able to issue grants and seed funding of more than $5 million to over 5,000 young entrepreneurs in Africa, Asia, and Latin America. Such startups have so far been able to generate in excess of 4,000 with survival rates at 30% higher than the regional average, usually less than 50%. This means a great deal, particularly in countries like Kenya and India, where access to capital remains very limited for young entrepreneurs.
The Starfire Charity Foundation has mentored more than 2,000 young entrepreneurs through its programs with experienced business leaders and professionals within various industries. Mentors in this network give support in almost anything the businesses require: strategy formulation, marketing aspects, finance management, or even leadership skill building. An inspiring story to that effect was from a young entrepreneur from Tanzania whose tech startup received both mentorship and seed funding from the organization and reported 150% revenue growth in less than a year.
The foundation also provides training workshops through its collaborations with universities and business incubators. The workshops have armed more than 10,000 youths with relevant skills in digital marketing, business management, and product development. An example of this is that the Starfirecharityfoundation program, in conjunction with the University of Nairobi, oversaw 500 students commence businesses within six months of being trained and thereby managed to reduce the unemployment rate of graduates within that region by 20%.
Other major points of focus that starfirecharityfoundation have provided to young entrepreneurs are in sustainable businesses. It has helped young entrepreneurs from various sectors of renewable energy, agriculture, and technology, pursuing business ventures in a way that is both sustainable and socially responsible. A very good example was when the foundation helped a group of young entrepreneurs in Brazil to develop a solar-powered irrigation system, which resulted in a 40% increase in agricultural yield with reduced energy costs and less environmental impact.
The commitment of starfirecharityfoundation to youth entrepreneurship is in line with the vision of world leaders. According to President Barack Obama, “Young people are the key to economic development and global prosperity.” Starfirecharityfoundation puts this into practice by giving young people a chance to become active agents of change within their own communities.
For more information about how starfirecharityfoundation supports youth entrepreneurs, visit starfirecharityfoundation.