Intel collaborates with the Arab Science & Technology Foundation

This entrepreneurship competition, organised by the Arab Science and Technology Foundation will be open to all students from Technology majors across the region. The winning two teams will be selected to represent the Arab world at the global 'Intel + UC Berkeley Technology Entrepreneurship Challenge,' set to take place at the University of California, Berkeley during October 2006.

'The Arab Science and Technology Foundation seeks to increase investment in technology and mitigate the migration of qualified Arabs to the developed world by building an atmosphere of excellence, innovation, research and technological development that in turn will promote entrepreneurship in the Arab world and generate jobs for people in the region,' said Dr. Abdalla A. Alnajjar, ASTF President. 'The Arab Technology Business Plan Competition is set to provide exposure to entrepreneurs in technology and commerce and cultivate their talents to drive them to the next level of excellence,' he added.

This first Pan-Arab contest invites the region's aspiring young technopreneurs to submit plans for high potential start-up business projects in the sectors of Information Technology, Communications, Life Sciences, Engineering, Nanotechnology, Biotechnology, Pharmaceuticals, Energy Applications and related technology fields. The top three finalists will receive cash awards in the amounts of $7,500 (first place), $5,000 (second place) and $2,500 (third place); Intel will also cover all expenses related to the first two teams' participation at the 'Intel + UC Berkeley Technology Entrepreneurship Challenge'

'Our mission in this sponsorship is to spur innovation in the Arab world and to inspire the entrepreneurial spirit to thrive further,' said Bassem Nasir, Intel Higher Education Manager Middle East, Turkey and Africa. 'As part of our Digital Transformation Initiative, we are investing in local entrepreneurship through this competition coupled with targeted seminars and programs in cooperation with the Lester Center for Entrepreneurship and Innovation at the Haas School of Business at UC Berkeley, so as to inspire technological innovation demonstrated by teams from the Arab world. We are confident based on experiences from around the world, that as educators and students shift their focus towards an increasingly entrepreneurial culture, this can encourage technology commercialization and stimulate the knowledge economy in the countries and regions involved,' he added.

Intel's sponsorship of this competition is a component of Intel's Digital Transformation Initiative for the Middle East, a comprehensive, multi-year program designed to develop a more competitive IT workforce capable of driving innovation and economic growth in the region. The program is designed to build on already significant IT activities in the region and increase the company's investment in four key areas: local entrepreneurship; education; digital accessibility; and specialized technical competencies. Education specifically is a key focus for Intel, as one of the pillars of its World Ahead Program. Intel has a long history of working to improve education worldwide, and its ongoing programs prepare teachers and students for success in the global economy.