Big Business Idea Competition nears deadline

The TKM - Ernst & Young Big Business Idea Competition (BBIC) provides Omani entrepreneurs, students and researchers who have ideas with commercial potential the skills, knowledge and support needed to develop a first-rate business plan.

Support is provided through a series expert start-up training sessions that are being run by BBIC sponsors Ernst & Young; Ericsson; Nawras; NCR; GroFin; and KOM-based start-ups Success Technology and Hussam Technology.

"Taking part in BBIC is easy - an application form is available online (www.kom.om) - folk simply need to submit the application form to Knowledge Oasis Muscat by 9 September. We will then review the entries and select four finalists," remarked Ibtisam Al Faruji, Head of Marketing at KOM and the BBIC Co-ordinator. The final four will receive further guidance and support from the competition's sponsors who will provide advice on the preparation of a high quality business plan - the essential requirement for marketing any business idea to potential investors.

According to TKM incubator management applications have been submitted that cover a wide range of topics, these include e-commerce; community portals; business continuity and disaster recovery; and online research. "We're delighted with the number of entries we've received. In fact there's a marked difference in the quality of ideas that have been submitted this year. It's obvious that people have taken a considerable amount of time to really think through their business ideas," said Al Faruji.

A prize of RO6,000 and 12 months rent free accommodation in the TKM incubator program will be awarded to the business plan judged to have the best commercial potential.