Entrepreneur of the Year 2008 launched in Middle East by Ernst & Young

The world's most prestigious business award for entrepreneurs is now in its second edition in the region.

The program has already been successful for over 22 years in 135 cities in over 50 countries and seeks to honor entrepreneurs whose ingenuity and perseverance have created and sustained successful, growing business ventures. It makes a difference by encouraging entrepreneurial activity and recognizes the contribution of people who inspire others with their vision, leadership and achievement.

In 2007, from a competitive pool of 17 finalists across the Middle East, Samih Darwazah, Chairman of Jordan based Hikma Pharmaceuticals was named as the Ernst & Young Middle East Entrepreneur of the Year. This year, the pool of finalists is expected to increase and the competition will intensify.

"At Ernst & Young we're committed to achieving potential. It is how we make a difference for our people, our clients and our wider communities. We seek to foster and encourage the spirit of entrepreneurship in our region and we hope that this program is bringing us closer to that goal. The Ernst & Young Entrepreneur of the Year award is an ideal platform for Arab entrepreneurs to highlight their achievements and to take their place amongst global business leaders,"

said Ahmed Al Aiban, Ernst & Young's Middle East Chairman.

Fouad Alaeddin, Managing Partner of Ernst & Young Middle East added:

"Entrepreneurs are pioneers of change and creativity who constantly move forward with spirit. They are highly competitive and constructive people and will, therefore, be drawn to this awards program. Our region has a wealth of positive and creative minds whose contributions will enrich the future economic development of the Middle East. We hope to see a cross-section of industries represented in our program this year including the emerging green technology companies."

An independent judging panel will be drawn from business executives, entrepreneurs, ministers and academics to decide the overall winner of the Middle East Entrepreneur of the Year title. The winner will be announced at a gala dinner set to take place at the Philadelphia Hall, King Hussein Bin Talal Convention Centre at the Dead Sea in Jordan in November 2008. All winners become lifetime members of The Entrepreneur of the Year Hall of Fame, which is part of Ernst & Young's Entrepreneur of the Year Academy. In addition, the overall Middle East winner will be invited to participate in the World Entrepreneur of the Year awards, where entrepreneurs from around the globe vie for the title of Ernst & Young's World Entrepreneur of the Year.

To be eligible for consideration, nominees must be owners and managers who are primarily responsible for the recent performance of a privately held business that is at least two years old, or founder shareholders of a listed company who is still active in senior management or is still a 51% owner. Awards are given to entrepreneurs who have demonstrated excellence and extraordinary success in areas such as innovation, financial performance and personal commitment to their businesses and communities.

Self-nominations are encouraged and there is no fee to enter. Application forms can be downloaded from the Middle East Entrepreneur of the Year website or entrants may contact their local Ernst & Young office.

This year, the sole broadcast sponsor for the program is Al Arabiya TV, the sole print media sonsor is Al-Iktissad Wal-Aamal, and the sole online sponsor is Zawya.com.