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Prinson left school at 16, and facing limited job prospects, sought work at a foundry. He later opened his own foundry but with limited success due to a lack of machinery and mentoring advice. Youth Business Sri Lanka (YBSL) saw the potential in Prinson’s business model and recognised his manufacturing and design skills.
Sri Lanka’s Central Environment Authority backs Prinson’s venture, which each month collects and recycles 1000 kg of waste metal to transform into Hindu religious products. He also buys discarded engine oil, which is used to melt the metal.
Founded in 2000 by the Prince of Wales, Youth Business International (YBI) is a global network of independent non-profit organisations supporting under-served young people wanting to start and grow their own businesses but without the means to do so.
Youth Business Sri Lanka (YBSL) is an accredited member of the YBI Network. Led by the Ceylon Chamber of Commerce (CCC) a National Board of Trustees was established following extensive consultations with potential stakeholders, to oversee the national expansion strategy for YBSL in 2007. YBSL operates in 10 districts reaching more than 800 young entrepreneurs with mentoring support.
The Start-up Entrepreneur of the Year Award was won by another Sri Lankan Nimali Gunawardana by creating an environmentally- friendly business producing and exporting coir for mattresses, coir piths and coconut husk chips in the rural district of Hambantota’s Ambalantota. Due to the jobs and industry she has generated in her village, local government has repaired the roads which has positively impacted the lives of more than 100 families.
CCC has been actively initiating programs through Youth business Sri Lanka (YBSL) with European Union Non State Actors, Standard Chartered Bank and International Alert projects creating a starting point to build viable and sustainable businesses by creating a momentum in the entrepreneurial activity among the youth.
As a part of national expansion strategy YBSL empowers the District Chambers to act as the link between the disadvantage youth by providing resources and access to business contacts, focusing on to reduce economic and social disparity through the promotion of youth entrepreneurship in least developed/marginalised areas of Sri Lanka.
