Dubai SME, the entrepreneurship development agency of the Department of Economic Development (DED), has announced today that participants of the "Young Entrepreneur Competition 2011 (YEC)” exhibition held under the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, at The Dubai Mall are showcasing an array of creative and innovative projects that highlight the strong entrepreneurial culture of Dubai.
More than 2,500 young entrepreneurs are showcasing their projects at the exhibition, which is supported by du and The Dubai Mall. The projects are marked by high professional standards across all aspects – from the display to promotion strategies.
"Power Balance,’ an initiative by Emirati youngster Hossa Alhrari displays energy bracelets that help the athletes to balance and stimulate circulation. The products are being promoted professionally and to international standards, and Hossa is seeking to promote these products on a large scale in the UAE.
"Doktor Computer" by young Emirati Saeed Al Maidour introduces the idea of treating computers just as a medical clinic. He says that computers must be fitted with care and attention to protect against faults and damage. He is also promoting this idea and potentially developing a new culture in caring for the computers.
“Bil Arabi” by Asma Mazrouei features Arabic calligraphy on products from mugs and ornaments to home accessories and antiques. She looks forward to promote the idea in a professional manner and establish a distribution company for such products in the UAE.
The exhibition is part of the Young Entrepreneur Competition (YEC), aimed at reinforcing the entrepreneurial skills and aptitude of students in high schools, colleges and universities across the UAE. The competition will focus on providing insights into the comprehensive business environment of Dubai to encourage students to start their own businesses and drive innovations within a competitive environment.
“The competition demonstrates the high creative standards and innovation applied by the participants. This also underscores the success of the competition to attract the creative ideas of young people who are enthusiastic about achieving their ambitions and aspirations. The training provided to participants before the competition has yielded strong results marked by the professionalism displayed by the participants,” His Excellency Abdul Basit Al Janahi, CEO of Dubai SME.
Farid Faraidooni, Chief Commercial Office, du, congratulated Dubai SME, the entrepreneurship development agency of the Department of Economic Development (DED), for the astounding success of their “About the Young Entrepreneurs Competition 2010.” He said; “We are honoured to be the main sponsors of this competition as we strongly believe in this exceptional initiative to train students to manage their own projects empowering them to become tomorrow’s leaders. We take great pride in investing in UAE’s youth and in being part of their development and future success. We also look forward to working with students from two reputable women colleges: Zayed University’s and Sharjah’s promising HCT. We are looking forward to see the fruit of their efforts with great confidence.”
“Participants in this year’s exhibition were trained to pursue their projects with confidence and build successful businesses in the future in order to equip them with the necessary tools to cope with the challenges ahead. All projects submitted in the competition were evaluated as per global standards,” said Nisreen Safar, General Coordinator of the competition.
Over the years, YEC has succeeded in encouraging entrepreneurial spirit among young UAE nationals. The contest also helps to build awareness among participants on the concept of small and medium enterprises and various business environments.
The Young Entrepreneur Competition was originally launched in 2005 with 49 projects and 114 participants participating in the inaugural event. It went up to 73 projects and 215 participants in 2006; 99 projects and 364 participants in 2007; 102 projects and 103 participants in 2008 and 279 projects and 971 participants in 2009. Last year saw an overwhelming participation in the competition with 2,000 participants and 700 projects.
For further information, please visit www.yec.ae .