Recently, interest in youth entrepreneurship has been fuelled due to high levels of unemployment amongst young people and as a way to foster employment opportunities or to address social exclusion. Youth entrepreneurship has gained more importance in recent years in many countries, with increased interest in entrepreneurship as a way of boosting economic competitiveness and promoting regional development. Based on survey and interview of the young entrepreneurs through a structured questionnaire in Bhubaneswar and Cuttack, the twin cities of Orissa, the researchers have made an attempt to study the factors contributing to the promotion of young entrepreneurs to start up their own enterprise, to find out the constraints that impedes and prospects that motivates the young people in starting and running a business and to assess the performance of the young entrepreneurs in Orissa.