Young people are considered the backbone of any country’s sustainable economy. A country that can utilize its youth to the fullest gets the best output. However, in this modern, competitive world and with the rapid growth of the population, it is very challenging to ensure jobs for all the youth; rather, creating a foundation for youth by which they can realize their entrepreneurial dreams in reality would be the best alternative. This study has tried to analyze the challenges, such as scarcity of initial finance, social constraints, volatile political situation, lack of education & skills, inability to adapt to modern technologies, and societal perception regarding women’s participation in entrepreneurship that South Asian youth face while implementing their entrepreneurship ideas with the help of scoping reviews of related literature. Along with the challenges, this study identified the prospects of youth entrepreneurship through a SWOT analysis. This study has sought to present a framework that can help policymakers in South Asian countries expand youth entrepreneurship by implementing a holistic strategy supported by the proper use of modern technologies. Because this study has highlighted how technological evolution is reshaping youth entrepreneurship, especially for women and unprivileged youth.