Oman Souq Online tops TKM-Ernst & Young Big Business Idea Competition
30 Oct 2007MUSCAT — In an exciting final of the 2007 TKM-Ernst & Young Big Business Idea Competition (BBIC), Oman Souq Online led by Anwar Al Tobi, Abdulhakeem Al Tobi and Badriya Al Baqlani received the top award.
While the Big Business Idea Competition has only one winner, in a surprise announcement, a second prize was announced by the Ministry of Manpower under the Sanad Programme, which was awarded to Majid Al Yaqoobi and his team for their Online Research and Survey project.
The second prize was announced by Dr Juma bin Ali bin Juma, minister of manpower, who was present at the competition along with Maqbool bin Ali Sultan, minister of commerce and industry, under whose patronage the final of the BBIC was held at Crowne Plaza at a gala dinner.
Founded in 2006, by Knowledge Oasis Muscat and supported by Ernst and Young, Nawras, Ericsson, NCR, Talal Abu Ghazaleh Intellectual Property, Oman Economic Review and Times of Oman, the annual competition recognises and celebrates Oman’s most inspiring business plan.
Hilal Al Ahsani, CEO of Public Establishment for Industrial Estates (PEIE), organiser of the annual competition, said: “I congratulate the winning team and all those shortlisted for the competition because many of them have developed potentially winning ideas for areas which are crucial to our economy.”
Innovation depends on taking ideas right through to become full-fledged marketable products and services. Competitions like these which help mentor and develop people to market and sell ideas can only help in striving to boost innovation in Oman.
Al Ahsani commented: “I am thrilled to see the growing important contribution the TKM-Ernst and Young Big Business Idea Competition is making in showcasing young Omani entrepreneurs. The value of role models cannot be underestimated and each of our finalists is someone that other young entrepreneurs will aspire to be like. I know that certain things are universal when it comes to achieving business success. It takes vision, determination, commitment, sacrifice and passion. This year’s four finalists are testament to that and I applaud their incredible achievements.”
To help realise ideas, Oman Souq Online will have access to 12 months rent-free accommodation in the Knowledge Mine Incubator programme based at KOM. They will also receive RO4,000 as start-up cash and RO2,000 as telecommunications and internet credit from Nawras and access to regular business mentoring sessions.
Philip Stanton, managing partner, Ernst and Young Oman and lead sponsor of the Big Business Idea Competition, added: “The finalists in this year’s awards are very talented and determined young men and women who all have the potential to be tomorrow’s business leaders. They are innovators who are true inspirational role models. I know their example set this year will inspire many others to take up the challenge of the TKM Ernst and Young Big Business Idea Competition in future years and build on Oman’s growing entrepreneurial business community.”
While the Big Business Idea Competition has only one winner, in a surprise announcement, a second prize was announced by the Ministry of Manpower under the Sanad Programme, which was awarded to Majid Al Yaqoobi and his team for their Online Research and Survey project.
The second prize was announced by Dr Juma bin Ali bin Juma, minister of manpower, who was present at the competition along with Maqbool bin Ali Sultan, minister of commerce and industry, under whose patronage the final of the BBIC was held at Crowne Plaza at a gala dinner.
Founded in 2006, by Knowledge Oasis Muscat and supported by Ernst and Young, Nawras, Ericsson, NCR, Talal Abu Ghazaleh Intellectual Property, Oman Economic Review and Times of Oman, the annual competition recognises and celebrates Oman’s most inspiring business plan.
Hilal Al Ahsani, CEO of Public Establishment for Industrial Estates (PEIE), organiser of the annual competition, said: “I congratulate the winning team and all those shortlisted for the competition because many of them have developed potentially winning ideas for areas which are crucial to our economy.”
Innovation depends on taking ideas right through to become full-fledged marketable products and services. Competitions like these which help mentor and develop people to market and sell ideas can only help in striving to boost innovation in Oman.
Al Ahsani commented: “I am thrilled to see the growing important contribution the TKM-Ernst and Young Big Business Idea Competition is making in showcasing young Omani entrepreneurs. The value of role models cannot be underestimated and each of our finalists is someone that other young entrepreneurs will aspire to be like. I know that certain things are universal when it comes to achieving business success. It takes vision, determination, commitment, sacrifice and passion. This year’s four finalists are testament to that and I applaud their incredible achievements.”
To help realise ideas, Oman Souq Online will have access to 12 months rent-free accommodation in the Knowledge Mine Incubator programme based at KOM. They will also receive RO4,000 as start-up cash and RO2,000 as telecommunications and internet credit from Nawras and access to regular business mentoring sessions.
Philip Stanton, managing partner, Ernst and Young Oman and lead sponsor of the Big Business Idea Competition, added: “The finalists in this year’s awards are very talented and determined young men and women who all have the potential to be tomorrow’s business leaders. They are innovators who are true inspirational role models. I know their example set this year will inspire many others to take up the challenge of the TKM Ernst and Young Big Business Idea Competition in future years and build on Oman’s growing entrepreneurial business community.”
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