BIO supports international technology and innovation competition
Baytik Industrial Oasis (BIO), a wholly-owned subsidiary of Kuwait Finance House - Bahrain (KFH-Bahrain), has announced its sponsorship for the 6th Arab Technology Business Plan Competition (ATBC) organized under the patronage of Dr. Hassan Abdulla Fakhro, the Minister of Industry and Commerce. The event organized annually by the United Nations Industrial Development Organization (UNIDO) in collaboration with the Arab Science & Technology Foundation (ASTF) and Intel Corporation, this year’s finals will be held in Bahrain today [on October 25, 2010].
The ATBC is a competition that provides Arab ‘Techno-Preneurs’ (Technology Entrepreneurs) with tools to turn their innovations into real, applicable business opportunities in various related fields in engineering and technology. Bahrain is hosting the conference for the second year running. This year’s competition is being attended by Dr. Abdulla Al Najjar, President of the Arab Science & Technology Foundation and representatives from Intel Corporation.
“BIO has always been a company that attracted innovation,” said Mr. Osama AlKhaja, Chairman of Baytik Industrial Oasis. “Our project was conceptualized as a growth hub for international companies excelling in innovation and leading their respective industries in the quest for greater scientific advancement. I am very pleased to reiterate our support for this monumental event that looks to drive technological breakthroughs utilizing business innovation.”
This competition falls in line with ASTF’s efforts to bridge the gap between those who generate technology, and those who generate business and investments. Participants have the unique opportunity to showcase their business plans in front of venture capitals, angel fund and investors. “By using this competition as a platform to promote Arab innovation and linking the business-side to the product, ATBC helps create a positive momentum that will drive Arab economies in the future. The top three winners, to be announced at this event, will represent the Arab world in the worldwide finals of the ‘Intel + UC Berkeley Technology Entrepreneurship Challenge’ in California, USA. The winners of this competition are potential BIO customers and I hope to see them go forth and win this Competition on the global level,” added Mr. Alkhaja.
“Aiming to generate greater inward investment and stimulate employment by capitalizing on the ongoing expansion in the industrial sector, BIO is the first project of its kind in the Kingdom. Located within the BIIP, a newly established area in Salman Industrial City, BIO focuses on the technology, manufacturing, light industry service and knowledge based sectors and has been designed to attract occupiers with value added activities. The project is planned to be implemented in two phases. Phase 1 covers an area of 117,400 square metres while Phase 2 covers 45,000 square,” further added Mr. AlKhaja.
“The recently completed Phase 1 of the project comprises of six pre-built advanced manufacturing units for lease, each consisting of four modules of equal sizes. Providing flexibility in options, a company can invest in single or multiple units covering up to 9,600 square metres. Our dedicated logistics area, built to serve all the logistic requirements within the BIIP, was also completed during Phase 1,.” concluded Mr. Alkhaja.
Dr. Hashim Hussein, Head UNIDO-ITPO Bahrain thanked BIO for their cooperation and support during this event. "With a forward-thinking and dynamic company like BIO supporting us, the future of Arab innovation in technology is sure to succeed." Dr. Hussein added,"The UN has always been a strong supporter of any cause that aims at improving the lifestyle and helps the progress of society through innovation - whether it be through technology or introducing positive business change through good business ethos. ATBC is precisely the right sort of event that helps us bring these two aspects - business and innovation - together."
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