An innovation mindset combined with entrepreneur-friendly cities and regions will be essential to Europe's recovery from the economic crisis, according to a group of young people gathered at the European Committee of the Regions today for the third edition of the Y Factor conference today. "Entrepreneurs are the driver of any economy and encouraging young people to follow their ambitions is vitally important, especially as Europe looks to move from the financial crisis to recovery" Neale Richmond said before sharing his experience as both someone setting up a company in Europe and a representative of local government in Ireland. "It is key to instill the ideals of entrepreneurship into people as early as possible. That is why programmes such as the Schools Enterprise Programme that involves 17,000 students in Ireland play a key role in planting the seed of enthusiasm for entrepreneurship in our young people" he continued.

Markku Markkula, President of the Committee of the Regions, underlined the vital role of supportive, local and regional authorities for creating local ecosystems that support entrepreneurship: "When we talk about digital innovation, it is important that all levels of government create easy and transparent environments for doing business, provide widely accessible information on how to start a company or have access to finance. Local and regional authorities have to promote the culture of risk and support young people in pursuing their dreams and business ideas." Concluding his session, Councilor Richmond said: "Being European is an added bonus as young entrepreneurs can take advantage of the free movement of people as well as engaging in super programmes like Erasmus for young entrepreneurs."

This meeting took place just one week before Startup Europe Week, which is co-organised by the European Committee of the Regions. Throughout the week, the EPP Group in the Committee of the Regions will continue to raise awareness among existing and potential entrepreneurs of the resources that are available to them, in their region as well as at European level.