JEDDAH ENTREPRENEURS MEET AND COMPETITION 2015 – 2016 … “PROMOTING THE SPIRIT OF ENTERPRISE”

The Jeddah Entrepreneurs Meet and Competition program details was launched during a press meet at the Jeddah Chamber of Commerce and Industry announcing the 2015 – 2016 competition details and partnership agreements done. Building on the theme “Promoting the Spirit of Enterprise” the Jeddah Entrepreneurs Meet and Competition aims to develop and promote understanding of the spirit of enterprise through mentorship, seed money funding and initiatives presented by the public and private sector to further open doors for their business development targeting women entrepreneurs across the Kingdom. The press event was attended by the Jeddah Entrepreneurs Meet and Competition partners, sponsors and organizers and the media with opening remarks by Mr. Ziad Al Bassam, JCCI Board member, followed by an update on the program by Sarah Al Ayed, Jeddah Entrepreneurs Meet and Competition Chair and TRACCS Board Member and an overview about the Young Business Women’s Committee by the committee Head Noha Yousef.

Building on the success of the first cycle of the program and utilizing the challenges listed in the JEM 2013 – 2014 report the competition criteria and process was further developed to identify and promote select business arenas for entrepreneurs to present their ideas or existing start ups that include: Social Entrepreneurship, Manufacturing and Production and Development in Education and Health. The competition is open to all women across Saudi Arabia interested in launching their entrepreneurial venture. Registration in the competition has been open since September and the competition participation deadline is set for December 15, 2015. Interested candidates can apply online on www.jem-yje.comupon which they will receive a call from the initial seeding committee for further updates on their projects. One hundred candidates will be selected from all the participants to attend a workshop on “Entrepreneurship: Personality and Project” that defines the character and work process of the potential entrepreneurs. Personality of an entrepreneur will discuss the 9 characteristics: confidence, passion, vision, motivation, risk taker, discipline, flexibility, understanding of the market and its needs and planning. During the workshop the 100 participants will be undergoing an evaluation of their project understanding, implementation and character upon which 30 finalists will then be selected to go into the final phase of the program.

The thirty finalists will be attending designated boot camps by Qotuf Al Riyadah, one of the program organizers and in cooperation with Effat University, the Academic Partner for the Jeddah Entrepreneurs Meet and Competition, within each of the competition categories to help them develop their final plans and be ready to meet with the judging panel for the final winner selection.

The evaluation process for the finale judging will be based on the evaluation criteria: Start – Operate – Grow. One winner will be selected from each category and will each receive SAR 100,000 in funding and an 18 month mentorship program. Three runners up will be selected within each category and in turn will receive SAR 25,000 and also be mentored for 18 months.

Winners will be announced during the Jeddah Entrepreneurs Meet and Competition finale in Jeddah end of January 2016.

The Jeddah Entrepreneurs Meet and Competition is supported by a number of key organizations and companies including: Strategic Partner King Khalid Foundation, Academic Partner Effat University, and Organizing Partner Jeddah Chamber of Commerce and Industry and the Young Business Women’s Committee. JEM sponsors are: Dallah Al Barakah (Saleh Watan CSR initiative), TAM, UTURN, Alif Alif radio, Entrepreneurs Magazine, Arab Woman Mag and Sayidaty magazine. With organization, planning and consultancy in cooperation with Qotuf, Makeen, Tashkeil, Saudi Women Entrepreneur’s Network and Women Entrepreneurship Day. Part of the TRACCS CSR initiatives the Jeddah Entrepreneurs Meet and Competition focuses on key themes that are of relevance to our budding entrepreneurs, seeking to learn and to transfer knowledge from regional and global entrepreneurship best practice and descriptively applying its most important elements. JEM is the public forum through which potential entrepreneurs are able to present their innovative business idea and ventures directly to potential stakeholders.

“The Jeddah Entrepreneurs Meet and Competition is an important program that helps open avenues of cooperation and new business potential for entrepreneurs in the Kingdom. At the same time addressing challenges that face women entrepreneurs and assessing the means of tackling such challenges,” stated Sarah Al Ayed, Jeddah Entrepreneurs Meet and Competition Chair and TRACCS Co‑Founder and Partner. “JEM brings together the know how and the on hand experience and seed money for provisional funding, giving each entrepreneur the success factors to be able to work and grow her business. I expect that the success stories in such a program will help promote the entrepreneurial spirit in a number of budding entrepreneurs which in turn will further enhance and build the small and medium enterprise sector of the national economy.”

Recognizing the efforts and support from both the public and private sectors and its reflection on the positive cooperation aspect required, JCCI Board Member Ziad Al Bassam stated: “The idea of the program and what it has achieved in its first cycle has been the benchmark of the program sustainability and growth. The partnership mindset that brings together the public and private sector for business opportunity growth will help achieve the set goals and strengthen the entrepreneurial foundation.”

“We are excited to witness the second phase of JEM and look forward to seeing more successful business ventures,” commented Noha Yousef, Head of the Young Business Women’s Committee (JCCI). “Our goal through the committee and such initiatives is to help in the identification of diverse business opportunities that in turn help in the job creation and development in the local economy. Such initiatives can help make an impact that is sustainable and far reaching,” she ended.