(MENAFN - Arab News) The Human Resources Development Fund (HRDF) on Wednesday launched an award scheme worth SR3 million for Saudi youth with inspiring success stories in the private sector.
The Israr awards are being dished out for the second year in succession said Ibrahim Al-Moaiqel director-general of the HRDF during a press conference in Riyadh.
The awards ceremony will be held on Jan. 22.
Al-Moaiqel said the panel hopes to attract a large number of Saudi men and women with heroic success stories in their private sector ventures.
'The idea is to reward young Saudis for persisting in overcoming major personal challenges to become entrepreneurs' he said.
'In a world culture that increasingly focuses on celebrity status this award was launched to shed light on what is behind the glitz and glamour of success.
'For most success does not come easy. The Israr awards bring the challenges and disappointments these young entrepreneurs face into the limelight to encourage other Saudi youth to take risks.
'In short the award celebrates a certain mindset that drives success and highlights the stories of dreamers who tur fantasy into reality against all odds.'
Success stories go through an evaluation process by a panel of experts and well-known figures to select candidates. Beneficiaries of the Hafiz program are also eligible to apply for these awards.
This year the awards have been classified into two categories. Applications for the award will close on Sept. 30 and interviews will be held in Riyadh Jeddah and Dammam.
A total of 150 candidates will each win SR10000. A 12-person shortlist will then be made from which the three finalists will each be awarded SR660000.
Winners in the second category will also be given cash prizes. Al-Moaiqel said that the panel would assess character traits and determination levels.
'These experiences are all about strength of character guts and determination during the struggle for success' he said.
'It might be a very small-scale success in global local or financial terms but the award is about rewarding the journey taken and not the destination and to reinforce the message that perseverance is the key to success.'
Videoclips depicting success stories will also be screened during the ceremony.