AllWorld Network, along with partners Business Development Center (BDC) and Migrate MENA, celebrated the Jordan and Palestine winners of the Arabia 500+Turkey at an event in Amman, Jordan. The Arabia 500 is a ranking of the fastest growing young companies in the Middle East and North Africa (MENA) region, Turkey and Pakistan the winners were announced during the Global Summit of Entrepreneurship in Istanbul back in December 2011. Overall, Jordan was fourth on the Arabia 500, competing against the much larger economies of Turkey, Pakistan, UAE and Saudi Arabia.
“The winners exemplify a new breed of dynamic and resilient young companies who have overcome the odds, showing the world the growth potential, creativity, and marketability of the region as it establishes its new regional and global footing,” said Anne Habiby, Co-CEO of AllWorld. “These companies are solving the region’s greatest problems - growth, job creation and economic diversification in new and innovative ways.”
The event took place at Migrate MENA’s headquarters where the winners and partners had gathered for an afternoon of discussion around Expanding to Regional Markets and Talent Management in MENA region two of the top priorities and concerns of Arabia500 winners. AllWorld, Migrate and BDC are working together to developinnovative strategies and approaches toboth accelerate and facilitate the regional expansion of fast growth companies.
"These awards highlight the business strength and capabilities that exist in the region and these companies and entrepreneurs should be supported to reach their full potential in regional and global markets. Migrate is proud to join forces with AllWorld Network in its efforts to pave the way for the future success of the winning SMEs" Nader Nemeh, General Manager of Migrate.
Each entrepreneur on the Arabia 500 ranking has grown an average of 40 percent annually between 2008 and 2010, created an average of 200 jobs per company, and they aresucceeding in industries from web technology to food, and construction to consulting. An average of only 42 years old, nearly all of the entrepreneurs plan to establish another company in the next two years.
“BDC is a strong advocate of innovation and growth through the lens of entrepreneurship and by partnering with AllWorld we hope to recognize the entrepreneurial excellence that lies within Jordan and the region and put them on the world map,” stated NayefStetieh of BDC.
The top winners from Jordan include, Millennium Energy Industries growing at 702 percent between the period 2008 and 2010, JValley Software Solutions with growth of 637 percent, INSIGHT Business Solutions with growth of 364%, and Jeeran with growth of 284%. Given the challenging circumstances in Palestine, Souktel and MENA Geothermal deserve special recognition. These companies have overcome ongoing political unrest and oppression to create not only sustainable and successful companies, but a better future for the countries in which they live.
AllWorld was co-founded by Harvard Business School Professor Michael E. Porter, Deirdre M. Coyle, Jr., and Anne Habiby to bring visibility to growing companies in emerging markets to increase their odds of success. Any private, non-listed, company with rapid sales growth and an ability to demonstrate results with audited financial statements was invited to apply to the Arabia500.
The ARABIA 500 winners have all been invited tothe AllWorld Summit@Harvard from July 9-11, 2012. The Summit will be an action packed three days featuring the ARABIA 500 along with prominent speakers, panel discussions, networking sessions and the AllWorld Amazing Race.