(MENAFN- Arab Times) the Kuwait Projects Company, and the Youth Empowerment Organization (Tmkeen) held a press conference to announce the start of registration at the launch for the first KIPCO Tmkeen Award for Young Entrepreneurs 2015, with a focus on entrepreneurial businesses in the media and technology sector.
Young entrepreneurs aged 18-33 with existing media and technology businesses established for no longer than five years and licensed in Kuwait were invited to visit the Tmkeen website to apply for the award from Sept 7 until Sept 26.
Speaking at the press conference, Ms.Eman Al Awadhi, KIPCO's Group Communications Director, stated the award was started in a way to support the youth: "There are a lot of people who want to give and develop their businesses and usually they have problems, especially in the first two years.
We, just like my brother (Ali Al Ibrahem) said, collected our experiences and helped 60 companies in 24 countries, so we decided that this award would represent the most valuable thing we can offer which is our experience"
The award includes an unparalleled prize of services provided by the project management of the Kuwaiti Department worth $100,000, split between advertising, consulting, studies and others of services. "For the past three years, Tmkeen's symposium has brought international and local experiences to young Kuwaitis, inspiring them to develop their own business ideas and become successful entrepreneurs.
KIPCO Group is delighted to be partnering with the Youth Empowerment Organization on launch the first ever KIPCO Tmkeen Award for Young Entrepreneurs, which will serve as a platform for showcasing Kuwait's young entrepreneurial talent and encourage the next generation of business people to follow their passion and take their projects from the idea phase to reality.
Companies will be offering the grand prize winner a bundle of services valued at $100,000. We would like to thank Burgan Bank, OSN, Gulf Insurance Group, KAMCO Investment Company and Marina FM for contributing their expertise and services to the prize.
We would also like to thank United Real Estate, Qurain Petrochemical Industries, United Networks and United Education for their support." Al Awadhi added.
On his part, Mr Ali Al Ibrahim, CEO of Youth Empowerment Organization, reiterated the importance of the youth in the development of society, stating "their creativity and innovation, coupled with strong commitment, provide a strong basis for the establishment of new businesses and projects.
As organizers, we trust in the abilities of the young people of Kuwait. The KIPCO Tmkeen Award for Young Entrepreneurs serves to encourage young people to establish their own small and medium enterprises, and offers them a variety of support services to ensure their success."
Eligible applicants for the award will be asked to submit detailed information about their business's operational and financial performance. The first judging round will be held in late October, where applicants will give a 5-7 minute presentation to a panel of business professionals from the KIPCO Group. Based on defined business criteria, the ten applicants with the highest scores will be eligible to give a final presentation of 15 minutes before the official judging panel in early November.
Eng Manar Al Hashash, Representative of the Official Judging Panel emphasized the high standards required for such a prestigious award, hinting that judges will take into consideration the innovation of the applicant's business, the relevance and feasibility of the business within the society, the strategic plan of the business, the impact it would have on Kuwaiti society, presentation skills and the ability to sell the idea, and the management skills of the applicant.
"The Official Judging Panel of the KIPCO Tmkeen Award will be responsible for making the final selection of the winning entrepreneurial business. On behalf of the Official Judging Committee, I express our appreciation to the organizers for their efforts in putting together this award. We look forward to exchanging ideas with the young entrepreneurs and to guide them into enhancing their work and developing their businesses successfully"
The winner of the grand prize will be announced at the opening of the Youth Empowerment Symposium on Nov 9.
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