INJAZ Al-Arab, a member of Junior Achievement Worldwide (JAW), will host the 9th chapter of the annual INJAZ Al-Arab Young Arab Entrepreneurs Competition in Oman this week.
The competition will see students from across the MENA region battle it out, showcasing their knowledge of how to establish, market and liquidate a real business, in a bid to win the highly coveted title of “Best Company of the Year”.
Commenting on the annual entrepreneurial event, Akef Al-Aqrabawi, Chief Executive Officer, INJAZ Al-Arab said, “This year marks the 10th anniversary for INJAZ-Al Arab and we are thrilled to be once again hosting this important event that celebrates young people’s vision of future businesses. In the lead up to the finale, all participants have been exemplary in their dedication and commitment to creating truly innovative companies and we look forward to seeing their final presentations next week.”
The annual INJAZ Al-Arab Young Arab Entrepreneurs Competition follows the completion of individual country rounds and closes six months of training in work readiness, financial literacy and entrepreneurship based on INJAZ Al-Arab’s internationally acclaimed Company Program©.
In total 14 teams from Oman, UAE, Bahrain, Kuwait, Saudi Arabia, Qatar, Jordan, Palestine, Lebanon, Egypt, Morocco, Algeria, Tunisia, and Yemen will be represented during the grand finale in Oman. The teams will battle it out for nine accolades including the Best High School and University Company of the year Awards sponsored by Omantel, Oman Oil Company, and OMIFCO. Other awards include the 2015 Citi Foundation Remarkable Customer Service Award, and the 2015 FedEx Access Award. This year also marks MBC Group and MBC Al Amal’s first sponsorship of INJAZ Al-Arab’s Regional Young Entrepreneurs with the introduction of the Creative Video Pitch of the Year award that will hone participants’ marketing and sales skills, crucial skills to these young entrepreneurs’ development.
Al-Aqrabawi added: “Throughout this two day event, each student enterprise will have the opportunity to present their business project to a panel of judges, made up of the regions business leaders and the event’s audience. The event is not only a forum to showcase business acumen, it is also a platform our youth to develop the skills needed to become entrepreneurs of the future.”
In addition to the finale presentations students are encouraged to market and sell their company to potential investors present in the audience, while highlighting the highs and lows of their year. Judging criteria includes a review of financial and management reports created by the students on the real life challenges of running a business in addition to a presentation on their product innovation.
Named one of the top 100 NGOs in the world by Global Journal, INJAZ Al-Arab has influenced the lives of over 2 million students since its inception in 2004. INJAZ Al-Arab is a member of Junior Achievement; the world’s largest and fastest-growing youth business organisation dedicated to educating students about workforce readiness, entrepreneurship and financial literacy through experiential, hands-on programs. The annual INJAZ Al-Arab Young Arab Entrepreneurs Competition emerged in Amman, Jordan in 2007 under the patronage of HM Queen Rania of Jordan.