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<p class=MsoNormal style='border:none;padding:0pt'><i><font size=2
face=Verdana><span style='font-size:10.0pt;font-family:Verdana;font-style:italic'>Details
about actual competition here: <a
href="http://www.arabbusinessplan.com/english/index.html">http://www.arabbusinessplan.com/english/index.html</a>;
please read below for context/other players and forward to all interested.<br>
L.<br>
<br>
<br>
</span></font></i></p>
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<h1><font size=5 color="#9c0000" face=Verdana><span style='font-size:16.0pt;
font-family:Verdana'>Arab Business Challenge to provide two Arab entrepreneurs
with incentive to develop their business</span></font></h1>
<h2><font size=2 face=Verdana><span style='font-size:11.0pt'><a
href="http://www.ameinfo.com/73251.html">http://www.ameinfo.com/73251.html</a><br>
<br>
<br>
The Arab Business Angels Network (ABAN), a non- profit organization founded by
the Young Arab Leaders during the Clinton initiative in September 2005, has announced
the launch of the first annual Arab Business Challenge.</span></font></h2>
<p class=MsoNormal style='margin-bottom:12.0pt'><b><font size=1 face=Verdana><span
style='font-size:9.0pt;font-family:Verdana;font-weight:bold'>United Arab
Emirates:</span></font></b><font size=1 face=Verdana><span style='font-size:
9.0pt;font-family:Verdana'> Monday, December 05 - 2005<br>
<br>
The Challenge will grant the best two business plans submitted by Arab
entrepreneurs with the funding necessary to develop their plan into an
operating business, with capital funding that can reach up to $1 million for
each plan. <br>
<br>
As the investment arm of Dubai Holding, Dubai International Capital has been
entrusted with the roll-out of ABAN, and will act as the lead angel for the
competition, which aims at stimulating regional entrepreneurship and business
innovation. <br>
<br>
Announcing the launch of the Arab Business Challenge, Sameer Al Ansari, chief
executive officer of Dubai International Capital and Young Arab Leader said,
"Despite the liquidity of capital markets in the Middle East, young
businesses and start-ups often fall into an equity gap where they cannot secure
funding to flourish." </span></font></p>
<p class=MsoNormal><font size=1 face=Verdana><span style='font-size:9.0pt;
font-family:Verdana'>'This initiative by the Arab Business Angels Network
unleashes young entrepreneurs from the shackles of raising capital through
personal finance, family funding or venture capital, and gives them greater
confidence to turn their ideas into profitable enterprises that have a positive
impact on the economic development of the region.'</span></font></p>
<p class=MsoNormal><font size=1 face=Verdana><span style='font-size:9.0pt;
font-family:Verdana'><br>
<br>
Submissions for the Arab Business Challenge will commence in January of 2006,
and Arab entrepreneurs between the ages of 15 to 40 are eligible for entry. A
website dedicated to the Challenge has been launched, www.arabbusinessplan.com,
which provides application details as well as the official business plan form
to be submitted. <br>
<br>
Strategic partners in the Arab Business Challenge initiative include Price
waterhouseCoopers and McKinsey, who will be lending resources in reviewing and
evaluating the project plans submitted by young Arabs, as well as contributing
with advisory expertise. Al Araybiya satellite channel is the exclusive media
partner and will provide special programming based on the initiative. The
American University in Dubai (AUD) and American University in Cairo (AUC) along
with other key universities from across the Arab world have also partnered with
the initiative in order to allow maximum reach to potential candidates. <br>
<br>
Business Angels, also known as Angel Investors, are typically individuals who
invest in businesses offering a higher return than they would usually see from
more traditional or conventional investment. These networks serve as a vehicle
to pool together investment efforts and fuel the growth of productive
entrepreneurial initiatives. <br>
<br>
Today, ABAN is uniquely positioned as the biggest organizations in the Arab
world to provide entrepreneurs with access to a large pool of angel funding
through its network of high net worth individuals (HNWIs). <br>
<br>
'Financial capital that pools seed capital, or early stage funding through
angel investors, are extremely limited in the region and in some parts
non-existent. The founders of the ABAN believe that a venture such as this is
an ideal platform to complement the economic development objectives of the Arab
world and launch creative and exciting ventures,' added Al Ansari. <br>
<br>
Habib Ghawi, YAL Executive Board Member said, 'Beyond the financial support,
the Arab Business Plan Competition, through the different regional and
international strategic partners, will provide expert counsel to the winning
plan through the development process until it is actually realized.' He added,
'We believe this initiative will create a launch pad for many of the future's
successful businesses. It very much reflects YAL's strategic projects that aim
at boosting the economy in the Arab region through empowering its young.' </span></font></p>
<p class=MsoNormal><font size=1 face=Verdana><span style='font-size:8.0pt;
font-family:Verdana'> </span></font></p>
<p class=MsoNormal><b><font size=1 color=gray face=Verdana><span
style='font-size:8.0pt;font-family:Verdana;color:gray;font-weight:bold'>Related
Information:</span></font></b><font size=1 color=gray face=Verdana><span
style='font-size:8.0pt;font-family:Verdana;color:gray'><br>
About Arab Business Angels Network (ABAN) <br>
<br>
Arab Business Angels Network is an initiative founded by Dubai Holding with the
aim of supporting the economic development in the pan-Arab region, with
particular emphasis on young people, entrepreneurs and investors. <br>
<br>
Based in Dubai, the region's business capital, with a network of subsidiary
offices, ABAN is the ideal platform to complement the economic development
objectives of the Arab world and launch creative and exciting entrepreneurial
ventures. <br>
<br>
Given the respective specialisations, skill sets, and capabilities of ABAN's
founding partners, the consortium is endowed with all the prerequisites to fuel
the expansion of the project and engender unrivalled credibility. <br>
<br>
About Dubai Holding (DH) <br>
Dubai Holding was launched in October 2004 to consolidate the various large
scale infrastructure and investment projects in Dubai that were created over
the past five years as well as research, identify and execute future major
projects that will benefit the UAE and the region. <br>
<br>
The company has been created with the goal of providing a better future for all
- across the range of life-improving industries it is involved in. Each of the
Dubai Holding operating companies focuses on key areas which will dynamically
support the development of Dubai as a world leading hub for commerce, leisure
and finance, in turn driving these companies to become leaders in their respective
fields in the Middle East and beyond. <br>
<br>
Dubai Holding currently has 19 companies operating in a variety of sectors
ranging from health, technology, finance, real estate, education, tourism,
energy, communication, industry, biotechnology and hospitality. <br>
<br>
These companies include: Dubai Internet City, Dubai Media City, Dubai
Healthcare City, Dubailand, Dubai International Capital, Dubai Industrial City,
Dubai Properties, Dubai International Properties, Dubai Investment Group, Dubai
Energy, Dubai Knowledge Village, Dubai Outsource Zone, International Media
Production Zone, E-Hosting Datafort, Empower, SamaCom, Jumeirah Hospitality
& Leisure, Dubiotech and Dubai Studio City. <br>
<br>
About Dubai International Capital (DIC) <br>
Established in 2004, Dubai International Capital is a Dubai based international
investment company that primarily focuses on private equity. <br>
<br>
It is a wholly owned subsidiary of Dubai Holding a large and diversified group
that operates in the fields of healthcare, technology, finance, real estate,
research, education, tourism, energy and communications. <br>
Dubai International Capital manages an international portfolio of diverse
assets that provide Dubai Holding and its stakeholders with <br>
• Value growth <br>
• Diversification <br>
• Strategic investments and relationships <br>
<br>
In its first year of operation Dubai International Capital has made the
following investments <br>
• Committed over US$ 300 million to private equity funds $1 billion
investment in DaimlerChrysler, making it the company's third largest shareholder
<br>
• £800 million acquisition of The Tussauds Group in the UK the largest
operator of visitor attractions in Europe <br>
• JD 200 million ($272m) investment company 'JD Capital' targeting
opportunities in Jordan <br>
• Anchor investor in a US$ 150million transaction bringing the world's
leading budget hospitality brand - Express by Holiday Inn to the GCC <br>
<br>
Such achievements make Dubai International Capital an ideal lead angel and
'anchor' in the Arab Business Angels Network. <br>
<br>
About Young Arab Leaders (YAL) <br>
<br>
The Young Arab Leaders is a network of Arab men and women who have seen the
power of action in their own lives, reached unprecedented levels of success for
their age, who are positive and can see beyond today's difficulties to that
vision of a prosperous Arab future. These leaders are currently in prominent
positions of responsibility and are destined for extraordinary achievement, and
they believe that their efforts today can have an impact on their communities,
countries and the region as a whole. <br>
<br>
Better opportunities for education, new means of income generation and a belief
in the ability to achieve is what will help Arab youth become tomorrow's
leaders. Members of Young Arab Leaders bring together their capabilities and
resources to building the necessary environment that will facilitate the way
for tomorrow's young Arab leaders. <br>
<br>
Each year, the Young Arab Leaders commit to implementing an Action Plan that
sets the strategic vision of the organization. They undertake projects focusing
on mentorship and education, while producing sector-specific plans that aim to
increase income generation opportunities for youth. <br>
<br>
About McKinsey & Company <br>
<br>
McKinsey & Company is one of the world's leading management and consulting
firms. For the past 75 years, our primary mission has been to help clients
achieve substantial, lasting improvements in their performance. <br>
<br>
We aspire to help leading companies - and companies with the potential to lead
- to improve their strategies, organizations, and operations, whether they are
100 years old or 100 days old. We also help a diverse group of governments,
institutions, and non-profit organizations solve their most difficult
management challenges. <br>
<br>
In serving clients we set, and strive to surpass, extraordinary high performance
standards, while upholding our firm's professional values. This approach leads
clients to entrust us with their toughest management challenges, ones that
demand insight, creativity, and perseverance to solve. <br>
<br>
McKinsey has 6000 consultants in 83 offices across 45 countries, with the UAE
office serving the Middle East region. <br>
<br>
About PricewaterhouseCoopers (PwC) <br>
<br>
PwC Global <br>
PricewaterhouseCoopers provides industry-focused assurance, tax, and advisory
services. Our tax services assist clients in the areas of tax strategy and
compliance, merger and acquisition support, and human resource services.
Advisory services focus on managing risk, structuring transactions and
improving performance. <br>
<br>
PwC member firms operate in 148 countries. Our clients are both public and
private and range from the world's largest organisations to innovative
entrepreneurs. PwC combines the diverse skills and unsurpassed business
experience of its more than 130,000 people to build trust and create value for
clients. We call this collaborative approach to client service, Connected
Thinking. PwC challenges itself - and its clients - to think harder, to
understand the consequences of every action and to consider new perspectives. <br>
<br>
PricewaterhouseCoopers is dedicated to the pursuit of responsible leadership.
In today's business environment, responsible leadership is about taking an
active role in building a sustainable business - one that creates long-term
value for clients, people and the stakeholder community within which it operates.'
<br>
<br>
PwC in the Middle East <br>
PricewaterhouseCoopers' has over 30 years of experience in the Middle East
Region, which covers 13 countries (Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait,
Lebanon, Libya, Oman, Palestine, Qatar, Saudi Arabia, UAE). The Region currently
has 55 partners and over 1,100 staff, operating from 23 offices, providing
professional Assurance, Advisory and Tax services. We deliver innovative,
forward thinking solutions to match the increasingly complex business problems
facing our clients in these challenging times. The Middle East is no exception.
The region's economy is transforming fast and growth expectations are again on
the rise. The countries in this region, governments, companies and family
businesses face irreversible changes. By understanding these changes and
managing the challenges, we play an important role in these exciting times. <br>
<br>
About Al Arabiya News Channel <br>
<br>
In 2003, Al Arabiya News Channel was launched. The 24/7 free-to-air news and
current affairs satellite outlet soon became the news source of choice for
Arabs seeking credible news and information about the Middle East and the world
beyond. Al Arabiya's reputation for sober and balanced reporting now extends
beyond its natural geographical and cultural domain i.e. the Middle East. A
number of renowned international news organisation and research institutes
interested in the Arab and Islamic worlds regularly monitor Al Arabiya. <br>
<br>
The new news channel was launched in the tradition of its parent Middle East
Broadcast Centre (MBC) group that saw the light in London, UK in 1991. MBC is
the first satellite, free-to-air multi-channelled media group of its kind in
the Arab world. Of more significance perhaps, MBC paved the way for the
emergence of the comprehensive Arabic language news service. The Group
identified the need for a dedicated news gathering and dissemination process
that soon became the mainstay of all Arab broadcast news media, primarily
satellite TV. MBC in fact brought to Arabic speakers for the first time ever, their
own independent media organisation that provides tens of million of viewers
around the world with a balanced and comprehensive diet of news and
information, which is far from the traditional restrictions of Arab official
censorship, as well as an array of Arab and international entertainment. <br>
<br>
In keeping with tradition, and perhaps reflective of the fundamental changes
afoot in the area, MBC provided Al Arabiya with all the means of sustenance and
success. Now based in Dubai in the United Arab Emirates (MBC HQ for the first
decade was London, UK), Al Arabiya occupies a place of pride in the prestigious
Dubai Media City alongside renowned media giants such as CNN, MSNBC, BBC,
Reuters etc. <br>
<br>
Al Arabiya runs an extensive global network of correspondents and reporters to
provide its audiences with the latest updates, scoops, interviews, and
exclusives. <br>
<br>
With nearly 30 offices around the world and large-scale presence in several
countries such as Iraq, Palestine, Saudi Arabia, Egypt, Lebanon, Jordan, and Yemen.
Al Arabiya enjoys a competitive edge in providing on-the-ground, first hand
coverage of major events. <br>
<br>
Al Arabiya's purpose-built news centre with its state-of-the-art studios and
broadcast technology is instrumental in providing Arab viewers with superior
news coverage that is credible, timely and relevant. It also plays a key role
in bringing to life Al Arabiya's vision of being the prime Arab source of Arab
news and information for the Arab viewers at home and across the globe. <br>
<br>
Al Arabiya introduced a calibre of professionalism and a standard of
informative journalism that guarantee objectivity and honesty in the world of
Arab media. Al Arabiya's goal is to deliver news and commentary that provide
accurate information to viewers, without exaggeration or intimidation, by
ensuring professional and balanced coverage. Al Arabiya's mission is to cover
events, deliver news and introduce various opinions, thus empowering viewers to
make informed decisions and consequently facilitate prudent and sensible opinions.</span></font></p>
<p><b><font size=1 color=gray face=Verdana><span style='font-size:8.0pt;
font-family:Verdana;color:gray;font-weight:bold'>© 1996-2005 by AME Info FZ
LLC. All rights reserved.</span></font></b><font size=1 color=gray
face=Verdana><span style='font-size:8.0pt;font-family:Verdana;color:gray'><br>
This story was posted by Lara Lynn Golden, News Editor<br>
Monday, December 05 - 2005 at 12:06 UAE local time (GMT+4) </span></font></p>
<p><b><font size=1 color=gray face=Verdana><span style='font-size:8.0pt;
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