Intel and INJAZ al-Arab sign MOU to enhance students entrepreneurial skills across the region

In doing so, Intel has taken a leading role in supporting this regional student company competition in which 200 high-school finalists enrolled in the INJAZ Company Program from nine Arab countries will compete in the "Battle for the Best Student Company" next May in Jordan. At the signing ceremony held today, Intel also announced plans to join the regional INJAZ al-Arab board currently in formation.

The "Battle for the Best Student Company" competition will identify INJAZ al-Arab's top performing student companies in Jordan, Lebanon, West Bank, Egypt, Kuwait, Bahrain, the UAE and Oman. These student entrepreneurs will be judged by leading members of the business community who will share with the youth in special workshops the challenges their companies face in real-life.

"It's our duty to build a strong foundation for business at a very young age. Intel is committed to educating youth and enhancing their entrepreneurial skills, as this will translate into long-term benefits for the community. Entrepreneurship is a key part of Intel Digital Transformation Initiative launched last year to develop a more competitive IT workforce capable of driving innovation and economic growth in the region. By working with market players, the government and NGOs to expand these initiatives regionally, we can help increase the level of competitiveness, emphasize the exchange of knowledge and encourage students to excel and reach the next level of performance."

says Abdulrahman Jarrar, Government Affairs Manager, Intel Middle East, Turkey and Africa.

The Intel funds will also be used to Arabize the latest entrepreneurship program of Junior Achievement Worldwide, of which INJAZ al-Arab is an affiliate, and to support the INJAZ program in Egypt, where Intel's General Manager, Khaled Elamrawi, just joined the founding board of INJAZ Egypt. Intel staff volunteers will teach a semester of one of INJAZ al-Arab's six high school business programs, which will culminate in the INJAZ Company Program which has become popular around Arab youth around the world. As part of this program, each corporate volunteer mentors a class as it sets up an entrepreneurial venture. Once a week for 12 weeks, students must come up with an idea, study its feasibility, sell stocks, divide into management teams, make a business plan, produce and sell a product or service, liquidate the company and distribute dividends to their shareholders.

"This agreement sets an example of how business can generate excitement among youth and offer self- employment as a viable career option. Eighty million Arab youth will be seeking jobs in the next 14 years, according to the World Bank. Entrepreneurship must become second nature to students at an early age. Like reading, writing and arithmetic!" exclaims Soraya Salti, INJAZ al-Arab's enthusiastic regional director based in Jordan.

"This initiative is set to save hundreds of thousands of Arab youth from the anguish of unemployment, under employment and marginalization," she continues. "By allowing students to discover their entrepreneurial spirit, this program empowers their personal development and allows them to take initiative. Learning how to run their own business before they even study it in university gives students a head start in their careers. This will in turn prepare them to become the successful businessmen and businesswomen of the future," Soraya Salti added.