Despite the high failure rate for startups, many young entrepreneurs remain undeterred, seeing the potential to make meaningful impact. Business management student Daniel Wu, for example, embraces the challenge, aiming to improve lives through his digital skills platform for rural youth, which teaches AI and software skills. His project reached the finals of the Innovation Youth Competition organized by the UN Industrial Development Organization (UNIDO), earning him an invitation to the UNIDO Global Industry Summit in Riyadh.
At the Summit, Wu participated in a Youth Parliament session, a global debate platform run by UNIDO and Saudi Arabia’s Ministry of Industry and Mineral Resources. Young delegates seized opportunities to network with mentors, policymakers, and potential investors, showcasing innovative solutions across renewable energy, circular economy practices, and digital manufacturing. These interactions enabled policymakers and industry leaders to directly engage with youth ideas and explore ways to scale them.
Despite challenges such as limited experience and a high startup failure rate, young entrepreneurs emphasize the unique perspectives they bring. Wu highlighted that growing up with digital technology gives his generation an edge in understanding new markets and content engagement, positioning them as valuable contributors to innovation and industry growth.
By dedicating a day to youth at the Summit, UNIDO signaled that the future of industry will increasingly rely on the creativity, determination, and resilience of the next generation. In Riyadh, young entrepreneurs were given a platform to voice their vision for shaping industries of tomorrow.
