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New Delhi Feb. 7 US-based non-profit organisation Youth Employment Summit (YES) Inc, a Clinton Global Initiative, launched on Wednesday a global fund to provide seed capital and entrepreneurship development support to the youth.

To begin with, the corpus of the fund is $425,000 that would be raised to $25 million in the next three years, said Ms Poonam Ahluwalia, President YES Inc.

The goal of the YES Fund is to build a coalition of partners all over the world to work on creating markets and unleashing entrepreneurship, she said.

The fund would provide seed capital to young entrepreneurs in the age group of 18-35 years.

The targeted sectors for youth entrepreneurship would be IT, renewable energy, water and sanitation and rural development.

The Minister of Panchayati Raj, Mr Mani Shanker Aiyer, welcomed the initiative and committed to work towards creation of youth entrepreneurship in the country.

Software major Microsoft has contributed $1,00,000 and has pledged its support to the YES Fund in raising $25 million.

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