THE ROLE AND SIGNIFICANCE OF STARTUPS IN FORMING YOUTH ENTREPRENEURIAL SKILLS Article Sidebar

Аннотация

In today's rapidly evolving global economy, fostering entrepreneurial skills among youth is crucial for sustainable development and innovation. Startups play a pivotal role in this process by providing dynamic environments where young individuals can develop practical business acumen, critical thinking, problem-solving abilities, and leadership qualities. This article explores the role of startups in shaping youth entrepreneurship, examining how participation instartup ecosystems enhances skill development, boosts creativity, and encourages risk-taking. Furthermore, the paper analyzes the impact of educational institutions, incubators, andgovernment policies in supportingyouth-led startups. Through areview of current trends and case studies, the article highlights the significance of empowering young entrepreneurs to drive economicgrowth and social change. Keywords: startups, youth entrepreneurship, entrepreneurial skills, innovation, economic development, business incubators, skill development, education and entrepreneurship, startup ecosystem, youth empowerment. Introduction. In order to support the entrepreneurial ideas and initiatives of young people, develop their business skills, assist young business entities in the implementation of their projects in sectors and spheres of the economy, including start-ups and innovative projects, create additional conditions for a deep mastery of professions, digital technologies and foreign languages, as well as ensure youth employment, the Ministry of Economy and Finance, the Ministry of Investments, Industry and Trade, the Central Bank, the Youth Affairs Agency, and JSC"Alokabank" have developed the"Youth Business" program for 2025-2027,providing for: Coverage of350thousand young peoplewithin theframework ofthe Program, including:  creation of at least 100 thousand additional jobs for persons who have reached the age of eighteen and not morethan thirty years;  designation of JSC "Aloqabank" as the base "youth bank" in terms of providing comprehensive services to young entrepreneurs and financial support for theiractivities;  allocation of preferential financial resources to youth startup and investment projects for theformation ofmodern entrepreneurial skills;  Implementation of support measures in sectors and spheres of the economy, including in the direction of innovative projects with the introduction of digital technologies and social entrepreneurship. Main part. Today, startups have become one of the most popular options for starting a business among young entrepreneurs and seekers. In the context of globalization, the level of development of the business sphere in the regions is assessed by the number of successful companies operating from scratch. Such achievements are mainly occupied by aspiring entrepreneurs aged 25-30, who are called representatives of the new wave of business, who have their own views on the organization of enterprises, many interesting ideas and promising ideas. The interest of young people in information technologies accelerates the adoption of innovative https://ijmri.de/index.php/jmsi volume 4,issue5,2025 1078 solutions in this area and in the consumer market, as well as the introduction of new types of products. International experience shows that investments inthesesectors are yielding significant returns. The essence of the startup concept lies in a certain non-standard and original idea, which is the creation of a business model in conditions of extreme uncertainty and is aimed at implementing a similar project that does not yet exist onthe Internet or in the field of technology. Europe and the USAare considered themain investors in thestartup sector. In recent years, the list of countries that invest heavily instartups includes India, Australia, Israel, China, Singapore, and Brazil. Startups are rapidly developing in such areas as financial services, consumergoods and services business, medicine, logistics, transport, andconstruction. Traditional tourism startups include projects for the sale of transport tickets, tours, travel arrangements, and hotel rooms, including growing startups in the field of travel and tourism, such as Timeshifter (reducing flight difficulties), Airbuy (purchasing goods), Heycars (transfer services at theairport), and Mycash online(delivery ofgifts and funds). Such projects combine several important features that reflect the specifics of the work of startups inthefield oftourism:  payment methods for purchased services (booking, flights, accommodation, money transfers, etc.)are mainlyfocused on electronicpayments;  relationships with service providers (hotels, airlines, travel agencies, travel agencies, etc.) are built on a contractual basis based on the amount of commission income (4-20%), and not on thedistribution ofincome;  all tourism startups require serious investments in marketing (mainly direct advertising on theInternet) and often refuse to implement technological platforms;  unlike