- Turn ideas into innovative companies and participate in Intel global challenge at UC Berkeley
- 50 projects from 15 countries competing for the top eight
Yesterday evening concluded the training workshop for Arab young entrepreneurs, hosted by the Bahraini capital Manama, and organized by ASTF, in partnership with Intel Corporation, and with the support of the United Nations for Industrial Development “UNIDO”, according to Dr. Abdalla Alnajjar, president of the Arab Science and Technology Foundation (ASTF). The training was held under the patronage of H.E. Dr Hassan Fakhro, the Minister of Industry and Commerce of Bahrain who participated in the ceremony on the last day. This training comes under the umbrella of the 7th Arab Technology Business Plan Competition TBPC, organized by ASTF with Intel, to support innovative ideas and turn them into an emerging technology companies. The training workshop of Bahrain continued during the period from September 18 to 21, 2011, another training workshop, hosted by the Egyptian capital of Cairo, during the period from September 10 to 11, 2011. 50 Arab entrepreneurs benefited from the training, from 15 countries: Saudi Arabia, Egypt, Yemen, Kuwait, Bahrain, Iraq, Syria, Lebanon, Palestine, Jordan, Tunisia, Algeria, and Arab entrepreneurs from Italy, France and USA. Bahrain will host the final of the 7th Arab Technology Business Plan Competition in the end of October 2011.
Entrepreneurship mitigates the effects of the international economic crisis on the Arab region
Dr. Abdalla Alnajjar commented: “Because of U.S. and European government debt crisis, and the international economic crisis, the Arab region need to have concerted efforts, and support economic growth through entrepreneurship, especially since young people are the creative energy that can lead locomotive of development and building of the Arab Knowledge economy. He pointed out that Arab entrepreneurs in need of real support, and provide the appropriate atmosphere and the catalyst for the establishment of their companies emerging, particularly that of every 100 new companies, there is only one company able to continue after one year of creation.”
Further he stressed that training in self-employment, contributes to the recruitment of innovation to increase production, are the way to the development of small and medium enterprises. Dr. Abdalla Alnajjar encouraged the Arab entrepreneurs to engage in self-employment and entrepreneurial startup companies, especially as the International Report on Entrepreneurship for 2011, which included a survey of more than 800 thousand people, including 70 thousand entrepreneurs in 60 countries, revealed that young entrepreneurs of a significant impact on growth, are starting their innovative projects in the younger age group of 26-45 years, and grow their business at rates approaching 20% per year, compared with others who work in jobs less developed. They are also more inclined to expand their projects and their work, and exercise a part of it at the international level.
Creating opportunities for citizens to achieve growth through innovation
For its part, Eng. Ferruh Gurtas, Intel Corporate Affairs Regional Director, Middle East Turkey and Africa, said: “Entrepreneurship and innovation are fundamental drivers of sustainable growth for any country, and around the world governments are looking for opportunities to promote growth and competitiveness for its citizens. Entrepreneurial skills are best developed through hands on experience and by building on our heritage of innovation; we are collaborating with governments, educators, NGOs and industry to help build capacity in Middle East. Our collaboration with Arab Science and Technology Foundation (ASTF) in the area of business plan competitions is a key component of our entrepreneurship programs in the region and the 7th Arab Technology Business Plan Competition TBPC that we announced with ASTF shows our long term commitment to Middle East.”
Training and capacity building to face the competition in the markets
For his part, Dr. Hashim Hussein, manager of the UNIDO Investment and Technology Promotion Office in Bahrain, referred that the importance of this training stems from the intense competition in the Arab markets, which make the process of training and capacity-building is central to the project management based on knowledge and not improvised, and to be a business plan consistent with the reality of the market and the needs of consumers, especially as financing and marketing issues, from basic elements for the success of the specific or failure of any project. In this context, Dr. Ghada Mohamed Amer, Deputy CEO of the Arab Science and Technology Foundation (ASTF) declared that the training program focused on several topics, including: the basic principles for the exercise of self-employment, legal and regulatory processes of the projects, and how to prepare and present a business plan, feasibility study, market analysis and the preparation of the budget for the project. She praised the high participation of Arab women entrepreneurs in the 7th TBPC competition.
To the winners: Cash prizes and participate in the Intel global challenge in America
Note that there are 8 winners among 50 projects reached the final phase. The winners will gets a financial rewards, worth 10000 US dollars for the first winner, 6000 US$ for the second winner and 4000 US$ for the third winner, and they will participate in the Intel Global Challenge at UC Berkeley in USA, in addition to the Investing in Technology Forum organized annually by ASTF, to the next five and collect the representative of the angle and venture capital who are looking for investing in the innovative ideas..
