11 entrepreneurs compete for top Saudi honor

(MENAFN- Arab News) The winner of EY Entrepreneur of the Year KSA 2015 (EOY KSA) will be selected from 11 Saudi finalists. The winner will represent the Kingdom in Monaco in June said Fahad Altoaimi office managing partner Riyadh.
Altoaimi was speaking to Arab News about the Saudi Entrepreneurs program launched by his company two years ago.
He said that the winner will be selected from the 11 finalists and he would get an opportunity to represent the Kingdom at the EY World Entrepreneur of the Year which will be held in Monaco in June this year.
'The winner of the EOY award will go on to represent Saudi Arabia at the globally renowned World EOY award ceremony in Monte Carlo in June 2015 competing against fellow candidates from more than 60 nations for the title of World EOY' Altoaimi said.
EY has announced the launch of the Entrepreneur Of The Year (EOY) 2015 award in Saudi Arabia for the second year in a row.
The program celebrates the success of entrepreneurs who build and lead successful growing and dynamic businesses. The event has been running for 28 years in 145 cities across 60 countries.
This year the EOY program will focus on SMEs which is in line with the Kingdom's strategy. SMEs are one of the main supporters of the Kingdom's economy and a fundamental catalyst for its growth.
'EY seeks to highlight the entrepreneurs behind successful SMEs and give them the opportunity to accelerate their growth and success.'
To be eligible for consideration he said nominees must be owners or founders who are primarily responsible for the daily operations and recent performance of a privately held business (not a subsidiary or division) that is based or has chief operations in Saudi Arabia and is at least two years old.
Awards are given to entrepreneurs who have demonstrated excellence and extraordinary success in areas such as innovation financial performance and personal commitment to their businesses and communities.
This year's finalists comprise of a group of noteworthy Saudi entrepreneurs whose achievements have earned them widespread respect and recognition.
The 11 finalists representing ten companies are: Ebrahim Aljassim from Hunger Station Falah Aljarba from DB Security Faris Alturki from Faris breakfast Khalid Alkhudair from Glowork Lateefa AlWaalan from Yatooq Majed Althagafi from Ibtikar Mohammed Suqer and Mohammed Al-Bahkali from Five Design Solutions Naif Alasmari from Sugar Sprinkles Rayan AlWabil from Rayz Co Sahar Aldahash from The Learning Zone.
Altoaimi said that he received a significant number of applications each of them unique that tell compelling stories of the difference that these entrepreneurs have made in the business communities around them.
The program has been running for the past 28 years across 145 cities and covers 60 countries. Worldwide the program celebrates entrepreneurs who have spearheaded some of the most successful companies encouraged innovation shaped market trends created jobs and contributed to socio-economic advancement he noted
The winner from the Kingdom will represent Saudi Arabia at this global celebration and will get a chance to network with all 60 country winners and hear from top business leaders across the globe sharing experiences and building a stronger global business network.
The KSA winner will also be inducted into the World EOY Hall of Fame joining a group of elite business leaders celebrated at this world event for the past 15 years.
The first EOY program was held on a regional level in 2007 featuring entrepreneurs from across the MENA region. Subsequently individual country programs were held in Jordan Qatar Oman and the UAE.
Sobhi Batterjee president and CEO of Saudi German Hospitals Group was named the MENA Entrepreneur of the Year in 2008.
The same year a new category 'Emerging Entrepreneur of the Year' was added to the awards and the winner was Sheikha Nadia Aldossary CEO and Partner of Al Sale Eastern Company who is a Saudi national. Nadia was the first woman to become a finalist and a category winner of the MENA Entrepreneur of the Year Awards.
Speaking about the importance of the program Entrepreneurial businesses which are largely SMEs create jobs and on an impressive scale. Their businesses account for well over half of all employment in most G20 economies.
Fostering entrepreneurship and SMEs is therefore he said one of the most powerful things a country can do to create a strong foundation for growth. They also spur innovation through the creation of new technologies products and services.
They are a driving force behind globalization; spreading ideas in the markets that they serve.
Entrepreneurship is increasingly taking center stage as the most viable option for job creation integration with the global economy and for cementing the region's potential as a hub between the East and the West.
Over the past years dramatic developments in the regional and global economies have shifted the goal-posts for entrepreneurial success and have changed the business landscape significantly.
Entrepreneurs are pioneers of change and creativity who constantly move forward with spirit. They are highly competitive and constructive people and will therefore be drawn to this awards program.
'Our region has a wealth of positive and creative minds whose contributions will enrich the future economic development of KSA and we are proud to support and recognize Saudi entrepreneurs throughout their journey of growth and their contributions to the business world' he said.