Mohammed Bin Rashid Establishment for SME Development to announce SME Award winners tomorrow
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Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, the Mohammed Bin Rashid Award for Young Business Leaders will announce its winners of the sixth edition of the award on Tuesday, 22nd February 2011. The award ceremony, organised in collaboration with Mashreq Bank, will take place at the Meydan.
The Award is part of the Establishment’s strategy to empower young business leaders and enable them to lead international projects. Starting November 2010 MBRE has been inviting entrepreneurs to compete in the awards by submitting entries for this prestigious award.
Commenting on the Award, His Excellency Abdul Baset Al Janahi, CEO, Mohammed Bin Rashid Establishment for Small and Medium Size Enterprises, said: “An expert committee of business and economic leaders in Dubai has chosen the winners after three phases of evaluation The first phase was based on the written project description and the second was a site visit by the arbitration committee. The final phase included interviews with the applicants.”
"Our priority is to support our leadership’s strategy to develop young and ambitious talent in the UAE, assist them in building their careers and open up the prospects for future work," His Excellency Abdulaziz Al Ghurair, CEO of Mashreq said.
"As one of the UAE's leading financial institutions, Mashreq works hard to support such initiatives to develop entrepreneurial talent and elevate it to global standards. We also continue to strengthen our ongoing cooperation with prestigious national institutions such as MBRE, as we consider it important to support such institutions," he added.
Al Janahi further said that the aspirations of His Highness Sheikh Mohammed Bin Rashid Al Maktoum are focused on nurturing Emirati creativity, which is the foundation for the country’s economic development and comprehensive growth. SME being a vital sector for the UAE economy MBRE is keen to develop the performance of this sector and that the SME Award will encourage UAE nationals to be more involved in the sector.
Al Janahi explained that the SME Award aims at creating a competitive environment and inspiring young business leaders by honouring them for their exceptional start. The award is also a motivation for individuals and institutions contributing to the performance and growth of new business enterprises.
This year’s awards will have 16 categories - Best Start-Up Business of the Year 2008 (Male/Female), for applicants from outside the UAE, Best Arab Start-Up Business of the Year 2009 (Locally/Regionally), and Best Business Project Award in the following sectors: Information Technology, Manufacturing, Marketing and Promotion, Electronics, Education, Tourism, Consulting, Professional Services, Retail, Design, Food and Beverage, Real Estate, Facility Management, Transport & Logistics Services.
Khadija Ali General Coordinator for the award has commented " For the first year the Mohammed Bin Rashid Award has capitalized on the Previous Winners and invited them to be part of the judging Panels for the this round to create benchmark and share best practices in their respective fields".
About Mohammed Bin Rashid Establishment for Small and Medium Size Enterprises:
In September 2009, His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai issued Law No.23 of 2009 concerning the Mohammed Bin Rashid Establishment for Small and Medium Size Enterprises, recently renamed the Mohammed Bin Rashid Establishment for Young Business Leaders.
The law defines the goals of the establishment for strengthening Dubai’s position as a centre for entrepreneurship and allows for the setting up of projects which encourage entrepreneurship and the innovative ideas of youth. This move seeks to motivate youth to work, as well as to pursue economic activity, such as the development and organisation of programmes and initiatives.
About SME Award:
In 2003 Mohammed Bin Rashid Establishment for Small and Medium Size Enterprises launched a one of its kind program in the UAE and the Arab World, which recognizes young entrepreneurs.
SME Award is supported by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai. The Award focuses on recognizing distinguished business leaders and organizations that support small and medium sized businesses. SME Award has attracted a lot of media attention. Applications submitted locally and from the Arab World to the fourth edition of the award in 2008 exceeded 50% the number of applications compared to previous years.