Chance to Turn Ideas into Big Business – Oman
19 Jun 2006MUSCAT, The Big Business Idea Competition 2006, the only one of its kind in Oman, was launched yesterday under the auspices of Ahmed Hassan Al Dheeb, Undersecretary of the Ministry of Commerce and Industry, at the Knowledge Oasis Muscat (KOM) yesterday.
The Knowledge Mine (TKM)-Ernst & Young Big Business Idea Competition 2006, as it is known, is an initiative to spot 'would-be' entrepreneurs who want to turn their ideas into a successful business.
Applicants must be Omani nationals and the business idea should be at the seed, start-up or early stages of developing their business idea.
The business ideas can be from any industry sector but the ultimate winner is likely to be a technology-driven idea, displaying a high level of originality, creativity and/or innovation.
The competition is designed to encourage Omani students, researchers and entrepreneurs to act on their talent, ideas and energy to produce tomorrow's leading businesses, which hopefully will generate enough employment opportunities for other young Omanis.
Entries are welcome from Omani nationals and the organizers, particularly, encourage university staff, researchers, students and entrepreneurs to take part. Submissions are also welcome from individuals and teams and new companies who have good, innovative ideas for a technology-driven business.
The closing date for the competition is September 2 and the semifinalists will be announced on September 5 and the best Big Business Idea will be announced at a gala dinner and award ceremony on November 5.
The Best Big Business Idea winner will get 12 months free rental of a unit in TKM; RO4,000 towards set up costs; RO2,000 mobile and internet credit from Nawras; and up to six days consultancy from TKM business advisers.
The TKM advisers will formally assist with business and financial planning and marketing and develop a comprehensive business plan covering all aspects of the business.
Speaking on the occasion, Ahmed Hassan Al Dheeb said that the aim of the competition is to support and encourage young Omani entrepreneurs to turn their innovative ideas and projects into a commercial project.
"I think we do have talented young Omanis who have the capability to produce good ideas and good projects but without the support of the government and the private sector they will not be able to take their ideas to the second step," Ahmed said.
He said that this kind of competition would encourage the Omanis to showcase their ideas and get a go ahead, specially with the incubator program in KOM, where they provide the spaces and the mentoring for the small businesses.
"We want the young Omanis to come and participate. I think the government will also support this project," Ahmed added.
While appreciating the organizers and supporters of this competition, Ahmed said that this is a good step to get the young Omani ideas into the local and international market.
In partnership with The Knowledge Mine incubator program, the competition brings together seven of Oman's leading organizations with the aim of generating awareness of innovation, entrepreneurship and the start-up culture.
The Public Establishment for Industrial Estates (PEIE) is the organizer of the competition and besides the Information Technology Authority, the other sponsors of this competition are Ericsson, National Bank of Oman, NCR, Nawras and Apex Publishing.
Full details on how to take part in the competition can be downloaded from www.kom.om/bbic
In order to seek out the best new business ideas, a panel of expert judges drawn from the industry include Mohammed Salem and Rajeev Singh (Ernst & Young); Dr Salim Al Ruzaiqi (ITA); Rob Clark (Ericsson); Hassan Shaban (NBO); Eyhab Al Hajj (Nawras); Habib Hanna (NCR); Dr Ashraf Al Nabhani (The College of Banking and Financial Studies); Mohammed Al Ghassani (PEIE); Khalid Ansari (KPMG); Dave Pender (PEIE); Alan Rooke (OmanLine); Karim Rahemtulla (Infocomm); Dr Graham Smith (Sohar Aluminium); Nick Pattison (Pattison Consulting); and a representative from Talal Abu-Ghazaleh.
Ideas will be short listed based on their level of innovation, creativity and originality, understanding of commercial realities, and overall potential for long term success.
Meanwhile, those who would like to get inspiration for business ideas can attend three workshops that will be conducted at KOM by Ernst & Young. The workshops are Business Plan workshop I&II (June 25, and July 2); and Business Plan Investor Workshop (July 5).
The Knowledge Mine (TKM)-Ernst & Young Big Business Idea Competition 2006, as it is known, is an initiative to spot 'would-be' entrepreneurs who want to turn their ideas into a successful business.
Applicants must be Omani nationals and the business idea should be at the seed, start-up or early stages of developing their business idea.
The business ideas can be from any industry sector but the ultimate winner is likely to be a technology-driven idea, displaying a high level of originality, creativity and/or innovation.
The competition is designed to encourage Omani students, researchers and entrepreneurs to act on their talent, ideas and energy to produce tomorrow's leading businesses, which hopefully will generate enough employment opportunities for other young Omanis.
Entries are welcome from Omani nationals and the organizers, particularly, encourage university staff, researchers, students and entrepreneurs to take part. Submissions are also welcome from individuals and teams and new companies who have good, innovative ideas for a technology-driven business.
The closing date for the competition is September 2 and the semifinalists will be announced on September 5 and the best Big Business Idea will be announced at a gala dinner and award ceremony on November 5.
The Best Big Business Idea winner will get 12 months free rental of a unit in TKM; RO4,000 towards set up costs; RO2,000 mobile and internet credit from Nawras; and up to six days consultancy from TKM business advisers.
The TKM advisers will formally assist with business and financial planning and marketing and develop a comprehensive business plan covering all aspects of the business.
Speaking on the occasion, Ahmed Hassan Al Dheeb said that the aim of the competition is to support and encourage young Omani entrepreneurs to turn their innovative ideas and projects into a commercial project.
"I think we do have talented young Omanis who have the capability to produce good ideas and good projects but without the support of the government and the private sector they will not be able to take their ideas to the second step," Ahmed said.
He said that this kind of competition would encourage the Omanis to showcase their ideas and get a go ahead, specially with the incubator program in KOM, where they provide the spaces and the mentoring for the small businesses.
"We want the young Omanis to come and participate. I think the government will also support this project," Ahmed added.
While appreciating the organizers and supporters of this competition, Ahmed said that this is a good step to get the young Omani ideas into the local and international market.
In partnership with The Knowledge Mine incubator program, the competition brings together seven of Oman's leading organizations with the aim of generating awareness of innovation, entrepreneurship and the start-up culture.
The Public Establishment for Industrial Estates (PEIE) is the organizer of the competition and besides the Information Technology Authority, the other sponsors of this competition are Ericsson, National Bank of Oman, NCR, Nawras and Apex Publishing.
Full details on how to take part in the competition can be downloaded from www.kom.om/bbic
In order to seek out the best new business ideas, a panel of expert judges drawn from the industry include Mohammed Salem and Rajeev Singh (Ernst & Young); Dr Salim Al Ruzaiqi (ITA); Rob Clark (Ericsson); Hassan Shaban (NBO); Eyhab Al Hajj (Nawras); Habib Hanna (NCR); Dr Ashraf Al Nabhani (The College of Banking and Financial Studies); Mohammed Al Ghassani (PEIE); Khalid Ansari (KPMG); Dave Pender (PEIE); Alan Rooke (OmanLine); Karim Rahemtulla (Infocomm); Dr Graham Smith (Sohar Aluminium); Nick Pattison (Pattison Consulting); and a representative from Talal Abu-Ghazaleh.
Ideas will be short listed based on their level of innovation, creativity and originality, understanding of commercial realities, and overall potential for long term success.
Meanwhile, those who would like to get inspiration for business ideas can attend three workshops that will be conducted at KOM by Ernst & Young. The workshops are Business Plan workshop I&II (June 25, and July 2); and Business Plan Investor Workshop (July 5).
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