Arab Business Challenge extends deadline

Notes and media contacts

The Arab Business Challenge is being organized by the Arab Business Angels Network (ABAN), an organization founded by Dubai International Capital and the Young Arab Leaders. Participants have to submit business ideas to enter the competition. The two winning business plans, to be selected by a distinguished panel of judges, will receive up to $1 million each in start-up funding from Dubai International Capital.

The Arab Business Challenge is supported by Dubai International Capital, Dubai Holding, Young Arab Leaders, the American University in Dubai, the American University of Cairo, the Lebanese American University, Yarmouk University Jordan, McKinsey and Company, PriceWaterhouseCoopers and Al Arabiya TV.

ABAN aims to support the economic development in the pan-Arab region, with particular emphasis on youth, entrepreneurs and investors.

Based in Dubai, the region's business capital, ABAN is the ideal platform to complement the economic development objectives of the Arab world and launch creative and exciting entrepreneurial ventures.

Who Can Apply for USD 1 Million Funding?

Teams: Two or more participants
Ages: 18 to 40
Applicants: Nationals or Residents of countries in the Middle East and North Africa region*
Education: High school or above
Deadline: March 29, 2006
How to apply: Application forms are available online at www.abchallenge.org.

For more information, please call +971(4) 316-6424

*At least 50 percent of the team must consist of Arab Nationals from: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Syria, Sudan, Tunisia, United Arab Emirates, Yemen.

Media Contacts:
Reem Sadek
JiWin
The Public Relations Subsidiary of Dubai Press Club
Dubai Media City
Tel: +971 50 450 0771
Fax: + 971 4 3888001