The Sawaed Programme seeks to support and develop the capabilities of talented entrepreneurs across the Arab World by awarding non-refundable grants to regional projects that make a positive contribution to the region's growth.
In July 2008, the Sawaed Programme invited the private sector to develop innovative products and ideas that improve the development of the Arab World through ICT by creating and providing access to high quality online Arabic content, and developing technology resources that support education and learning for the promotion of Arab culture. The last date for submitting the application for the year ended on 12 October, 2008.
Sultan Lootah, Vice-President for Mohammed bin Rashid Al Maktoum Foundation - Entrepreneurship and Employment sector, said: "The two winners of the Sawaed programme this year will set a new trend in entrepreneurship in the region. At a time when jobs are getting scarce, they will generate employment through fostering ideas and knowledge, the pillar of a knowledge based economy.
"We are proud to be supporting such start-ups that are so well-run and well managed. We believe the companies concur with our vision of developing a knowledge-based society. In addition, this initiative will support willing entrepreneurs to make a significant impact in the region through innovation and active engagement in the market place and the community."
The Sawaed Programme is a novel opportunity for businesses to develop commercially sustainable enterprises, while addressing development challenges of the Arab World.
To be eligible for the Sawaed Programme, bidders must complete a two-stage application process that includes the submission of a brief 'Concept Note', which will be reviewed by the assessment panel, and if selected, a company will be invited to complete a full application form. The assessment panel that includes private sector representatives eventually select the winning proposals.
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