Young people in around 50 disadvantaged areas will be able to access funding and support to come up with and deliver positive activities in their communities on Friday and Saturday nights.
Children's minister Beverley Hughes said: "I hope third sector organisations will bid to help us bring forward exciting opportunities for young people to shape the activities that they want at the times they want them. This investment and support will also give young people a chance to develop, essential skills in areas such as business, teamwork and communication - all the skills involved in enterprise."
The scheme is due to launch by next summer.
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