The Ministry of Education has launched the Entrepreneurship Challenge under the Graduate Fund. The challenge aims to boost the efficiency of Emirati university students and graduates, and provide them with the necessary training and tools for entrepreneurial success. This program, part of the ‘Projects of the 50’ initiative, seeks to catalyze a transformative leap in the UAE’s economic landscape by nurturing a culture of entrepreneurship and innovation among the nation’s youth.
Empowering young entrepreneurs
Dr. Ahmad Belhoul Al Falasi, Minister of Education, emphasized the ministry’s commitment to nurturing the talents of Emirati youth. Moreover, he highlighted the importance of fostering competitiveness across various sectors through the Entrepreneurship Challenge. “We are keen to empower those with entrepreneurial and innovative ideas, enabling them to translate their creative ideas into successful businesses and projects, which contributes to further enhancing the UAE’s world-class entrepreneurial environment that has enabled us to maintain the highest rankings in the Global Entrepreneurship Index globally,” Al Falasi stated.
Inclusive participation
The Entrepreneurship Challenge is open to UAE nationals aged 18 to 35, including both university students and graduates. Participants may either have entrepreneurial ideas they wish to develop into businesses or be young entrepreneurs and SME founders seeking to scale their enterprises. The challenge is designed to identify the most promising entrepreneurial talents among Emirati youth and offer them the resources and incentives needed to thrive in a competitive landscape.
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Incentives and support
Participants in the Entrepreneurship Challenge will have the opportunity to win up to AED2 million worth of prizes distributed among 12 Emirati winners. In addition, winners will be able to join advanced incubator and accelerator programs. They will receive personalized mentoring and coaching sessions to enable them to efficiently manage and grow their businesses.
Students and young graduates with an entrepreneurial spirit who wish to participate in the challenge can submit their applications via the program’s official website until the end of the application period on May 1, 2024.
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