Young Arab Entrepreneurs set to compete at annual INJAZ Al-Arab Regional Competition 2011
INJAZ Al-Arab will host the 5th chapter of the annual INJAZ Al-Arab Young Arab Entrepreneurs Competition in Amman, Jordan between October 18th to 20th 2011. The competition will see students from across the region battle it out for the highly coveted ‘Best Company of the Year Award’ before their peers and a panel of high-profile judges.
The regional competition follows the completion of individual country rounds and closes four months of training in work readiness, financial literacy and entrepreneurship. Teams from Kuwait, UAE, Bahrain, Oman, Saudi Arabia, Qatar, Jordan, Palestine, Lebanon, Egypt, Morocco, and Yemen will be represented.
Commenting on the upcoming competition Soraya Salti, INJAZ Al-Arab Regional Director and Junior Achievement Senior Vice President MENA said, “This event provides students with an opportunity to learn about and gain an understanding of the real-life processes for establishing a business in a safe environment. With youth unemployment in the Arab world set to remain high in the coming years’ educators, governments and the private sector need assist by tackling the issue with both theoretical and practical experiences. Through the INJAZ Al-Arab Young Arab Entrepreneurs Competition students gain access to both.
As part of the competition judging process students are required to reports on the real life challenges of running their businesses in addition to submitting a presentation on their product innovation before a panel judges and other contestants. This year Magdi Amin, Abdul Aziz Al-Yaqout, Ahmad Shuqairi and INJAZ Al-Arab board members will form part of the judging committee.
“For the past five years the INJAZ Al-Arab Young Arab Entrepreneurs Competition has acted as an effective medium for students of diverse cultures to interact with peers and professionals throughout the Arab world. The competition’s success is evident in its rapid development and we are excited to welcome this year’s contestants” added Soraya Salti, INJAZ Al-Arab Regional Director and Junior Achievement Senior Vice President MENA.
“The world economic crisis has stimulated a record increase in youth unemployment in the MENA region making it one of the biggest challenges facing governments and society. INJAZ Al-Arab) strives to create opportunities which work to combat this problem by recognizing the importance of self employment as a career option, and by teaching practical business and economic courses,” commented Ahmad Shuqairi.
The competition comprises of several socially engaging endeavours aimed at both students and mentors. The competition will end with an exclusive gala dinner during which the students’ products and services are evaluated by judges in the areas of marketing, planning, management and environmental concern.
“INJAZ Al-Arab programs seek to prepare students for real world challenges and assist them become tomorrow’s leaders. This year’s competition is a testament to all the hard work and efforts of the students over the last six months. At the national level we saw incredible talents come together and showcase their skills and entrepreneurial start ups. We now look forward to the penultimate round and wish all students the best of luck.” Salti added.
The competition emerged in Amman, Jordan in 2007 under the patronage of HM Queen Rania of Jordan and was reproduced the following year in Oman and subsequently in Lebanon then Morocco, corroborating the success of the initial event.
The INJAZ Company Program has two overarching aims. Firstly, to foster an understanding of the world of work and a spirit of entrepreneurship through the principle of ‘Learning by Doing’, and secondly, to encourage young people to think globally about their enterprising potential and activities. In joining the INJAZ Company Program, students become part of a growing and thriving community of ambitious, creative, resourceful and hard-working young men and women who are keen on shaping and transforming opportunities across the Middle East and North Africa region. Through INJAZ Company Program, high school and university students get to learn how to start up their entrepreneurial companies.