[LCM Articles] $1M Business Plan Competition

Fri Dec 9 04:56:58 EST 2005

Details about actual competition here:
http://www.arabbusinessplan.com/english/index.html; please read below for
context/other players and forward to all interested.
L.

Arab Business Challenge to provide two Arab entrepreneurs with incentive to
develop their business

http://www.ameinfo.com/73251.html

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.

United Arab Emirates: Monday, December 05 - 2005

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. 

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. 

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." 

'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.'

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. 

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. 

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. 

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). 

'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. 

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.' 

Related Information:
About Arab Business Angels Network (ABAN) 

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. 

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. 

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. 

About Dubai Holding (DH) 
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. 

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. 

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. 

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. 

About Dubai International Capital (DIC) 
Established in 2004, Dubai International Capital is a Dubai based
international investment company that primarily focuses on private equity. 

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. 
Dubai International Capital manages an international portfolio of diverse
assets that provide Dubai Holding and its stakeholders with 
• Value growth 
• Diversification 
• Strategic investments and relationships 

In its first year of operation Dubai International Capital has made the
following investments 
• Committed over US$ 300 million to private equity funds $1 billion
investment in DaimlerChrysler, making it the company's third largest
shareholder 
• £800 million acquisition of The Tussauds Group in the UK the largest
operator of visitor attractions in Europe 
• JD 200 million ($272m) investment company 'JD Capital' targeting
opportunities in Jordan 
• Anchor investor in a US$ 150million transaction bringing the world's
leading budget hospitality brand - Express by Holiday Inn to the GCC 

Such achievements make Dubai International Capital an ideal lead angel and
'anchor' in the Arab Business Angels Network. 

About Young Arab Leaders (YAL) 

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. 

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. 

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. 

About McKinsey & Company 

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. 

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. 

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.

McKinsey has 6000 consultants in 83 offices across 45 countries, with the
UAE office serving the Middle East region. 

About PricewaterhouseCoopers (PwC) 

PwC Global 
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. 

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. 

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.' 

PwC in the Middle East 
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. 

About Al Arabiya News Channel 

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. 

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. 

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. 

Al Arabiya runs an extensive global network of correspondents and reporters
to provide its audiences with the latest updates, scoops, interviews, and
exclusives. 

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. 

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. 

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.

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