Big Business Idea Competition
The competition aims on encouraging the Omani youth to take the idea of starting their own businesses as a serious alternative. The common trend among Omani youth is looking for a placement in either the governmental sector or the private sector. Only few of the graduates start their own businesses. One of the major obstacles any fresh graduate might face is raising a capital to fund his/her dream project.
The winner of the competition will be eligible for earning an amount of 4000 OMR (10,500 US $) plus a 2000 OMR (5,250 US $) worth of phone calls and internet usage. Moreover, the winner will be entitled to have an office in KOM with 12-months free rental to start his/her operations from. It’s worth mentioning that a series of free courses and workshops will be held to help the participants with writing business plans and relevant topics.
The sponsors of the competition are Ernst & Young, Ericson, Nawras, Grofin Oman and The Knowledge Mine (TKM) For those of you whom might be interested in joining the competition be informed that the closing date for submission of entries will be September 9th 2007 (09.09.07)
Related links…
BBIC inaugurated (Article published by Oman Tribune)
Public Establishment for Industrial Estates (PPEIE)
Some post cards from PEIE
5 comments:
This is great. It is needed, graduates need to view business ownership as an alternative to being an employee.
Is this the first time something like that has been delivered ? and is it yearly ? ..
I think it's a great opportunity to introduce some new fields of work instead of enhancing present ones.
Keep us posted.
per your request...
I wouldn't agree more :)
The good thing about this competition is that everybody wins! In other words, even those who don't win the prize will be attending those workshops for free. Plus they will be getting guidance from KOM. So even if a candidate doesn't win, that doesn't necessarily mean that s/he cannot go further and start his/her project :)
ti3jib...
The competition is held annually and this is not the first time it's held :)
As a matter of a fact, the winning team of the prize in 2006 briefed us about their business idea, Qumriyat. It's basically an internet website with various services basically directed towards tourists.
You can find an article by Oman Tribune in the following link. It's an interview with the founders of Qumriyat.
http://www.omantribune.com/index.php?page=news&id=9318&heading=Oman
This post comes out as a bit late, but I have just read this post and the comments which followed.
I was just wondering out of those who have read this post, how many took the initiative to participate in the competition or at least particiapte in the free workshops. If not, than why not?
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