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After the resounding success of last year’s Intel Business Challenge Middle East & North Africa competition, Intel has announced the 2013 contest is now open for entries. This year’s competition will have budding entrepreneurs from all over the Arab world competing against each other directly, rather than on a country-by-country basis, making the competition even challenging than ever.
Part of the Intel Global Challenge worldwide, a collaboration between Intel and UC Berkeley since 2005, the competition sees technology and business savvy university students, graduates and young entrepreneurs go head to head on a global level.
The Challenge is to submit a feasible technology-based business plan with a view to turning the vision into reality, with the top four regional winners selected to compete against finalists from all over the world at the Intel Global Challenge in Silicon Valley in October this year. With a prize fund of $100,000 and invaluable on-going support from leaders in Silicon Valley, the overall winner can expect a huge incentive to get their fledgling business concept off the ground.
Eng. Ferruh Gurtas, Corporate Affairs Director for Intel - Middle East, Africa & Turkey said, “We are pleased to announce the launch of the Intel Business Challenge for the Middle East & North Africa for 2013, that aims to enable young Arab entrepreneurs and university students develop their entrepreneurial skills and gain a competitive advantage to become the next generation of innovators.
“Intel is passionate about fostering entrepreneurship in communities around the world and advancing innovation to address global challenges, to drive economic growth and improve social conditions.”
For the second year, Potential.com, a leading international business consultancy, is has taken on the role of Managing Partner and mentor, chosen due to the organization’s extensive experience in the development of entrepreneurs and SME’s in the Arab world.
Mr. Shadi Banna, Managing Partner of Potential.com, said, “At Potential.com we’re huge supporters of local, young entrepreneurs and feel passionate about taking feasible, unique concepts from just an idea, through to the next level. It is our mission to help these young entrepreneurs develop their ideas and turn them into working business models through our online webinars, and we are looking forward to partnering with Intel on this initiative once again this year.”
As a global provider of interactive, internet based webinar sessions for start-ups and SME’s, Potential.com was instrumental in grooming this year’s finalists with its webinars on designing an effective business model and discovering the traits of a successful entrepreneur, as well as working alongside the contestants to help create a business value proposition for each entry.
Last year’s winning business ideas range from interactive educational platforms that bring learning into the 21st century, to a medical watch that monitors the blood sugar levels and blood pressure of diabetics and hypertensive patients.
Commenting on the Challenge, Nassir Nauthoa, Intel GCC country Manager, said: “Intel has invested in a number of programs aimed at inspiring and providing educational and critical skills development for young entrepreneurs. These programs include business plan competitions, ideation workshops, technology tools, entrepreneurship curricula and university seminars designed to help young people, engineering students and business faculty build entrepreneurship programs.”
The three winners collecting their prizes from Intel’s offices in Dubai, UAE, were EduSoul from the UAE, Mezoun Medical Watch from Oman, and EXA from Bahrain, an online rendering service for engineering houses, animation studio and 3D artists.
The closing date for entries to this year’s competition is April 14th with the regional finals being held in Dubai in June. More information on the Challenge can be found on intelchallenge.me.