Dubai SME hands over 70% of kiosks to participants in ‘Young Entrepreneur Competition 2012’

Dubai SME, the agency of the Department of Economic Development mandated to develop the small and medium enterprise (SME) sector, has handed over about 70% (around 700) of the kiosks for the ‘Young Entrepreneur Competition’ (YEC 2012) exhibition to participating students. The students have also received guidelines on the general conduct as well as rules and regulations of participation in the competition. 

Held under the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, YEC aims to instill and nurture entrepreneurial spirit among the younger generations in the UAE. The exhibition, running from March 28 to 31 at WAFI as part of the eighth cycle of YEC, will allow students from schools and universities across the UAE to showcase their business models in specially designated kiosks. 

“Dubai SME is keen to support the small and medium enterprise (SME) sector and promote the spirit of entrepreneurship among students from a very early age to enabling them successfully launch and manage their own enterprises. This is part of Dubai SME’s belief in the ability of young UAE men and women in advancing entrepreneurship and thereby economic development in Dubai and the UAE in general,” said Nisrin Al Harmoudi, General Co-ordinator of YEC. 

Al Harmoudi added: “YEC is attracting greater attention every year indicating its positive impact and the special place it has gone on to occupy in the UAE. The level of competition has increased substantially as reflected in the number of projects in the eighth cycle. The management and marketing skills and efficient customer handling evident in the exhibition are among the factors that helped in achieving such growth for the event.” 

Abdelaziz Al Mazam, Head of YEC Supervising Committee, said: “YEC team has sent e-mails to participants and directly contacted them to inform them of the approval of their projects to give them ample time for preparations. We started handing over the sites of kiosks on March 17 and will continue to do so till March 21. Each contestant gets to choose their kiosk and location.” 

Al Mazam noted that a ‘Participant Pack’ is being given to each contestant. The pack includes a receipt book, price tags, calculator and stationary intended to facilitate the process of buying and selling and create a competitive spirit and enthusiasm among the students. 

du, a major promoter of entrepreneurial development initiatives in the UAE and sponsor of the Young Entrepreneur Competition for the third year in a row, will be a major presence at the exhibition. Coming close on the heels of du announcing a Dh 1 million reality show for budding entrepreneurs in the UAE, the exhibition will see the telecom operator setting up its own kiosks to allow university students to have a first-hand experience of retailing telecom products and services. 

Abdullah Ibrahim, Director of Local Affairs, Wafi Group said: "We are delighted to host the Young Entrepreneur Competition 2012 exhibition as it brings together as many as 1,000 projects and a large number of young men and women to display their products and creative ideas in line with the highest standards of business and global marketing. YEC represents a remarkable strategy to build a new generation of people who can achieve their ambitions in the field of business through creativity, innovation and global thinking."