SYDNEY - A new program has been launched in Australia on Wednesday that will see young Australian and Chinese people given professional guidance to engage in cross-cultural business development programs.

The project, a joint partnership between the China Australia Millennial Project (CAMP) and professional services firm EY, will see young entrepreneurs from Australia and China working together to develop start-up companies from the ground up, while receiving support, mentorship and guidance.

Andrea Myles, chief executive officer of CAMP, said the program will be of great value to the participants and will boost business ties between the two nations.

"We're creating a space for brilliance to enable the flourishing young talent pool in Australia and China to connect and tackle global problems, and possibly even create the next cross-border 'unicorn,'" Myles said.

According to Myles, the participants will be part of an intense and accelerated process, which will enable them to learn all the skills they will need to succeed in the lucrative Australia/China marketplace.

"Delegates will work on real business challenges, developing a startup in a bilateral Chinese-Australian team from the ground up," Myles said.

"They're getting genuine engagement with some of Australia and China's leading brands, a cutting-edge curriculum which spans innovation, entrepreneurship and intercultural leadership, and the chance to gain funding to take their venture forward."

Not only that, but the young entrepreneurs will be given opportunities both in Shanghai and Sydney, which Myles says should help to "future-proof" Australia, by building on the already strong ties the nation has with China.

EY lead partner for the program, Gerald Marion, said he is excited to see the impact the next wave of young entrepreneurs can have within the program.

"Entrepreneurs create new jobs, fuel growth and drive innovation. That's why EY is proud to be involved with CAMP and help them provide emerging young leaders from China and Australia with the leading practices and tools they need to realize the value from their innovation and grow their ventures, cross border," Marion said.