The Abu Dhabi Council for Economic Development (ADCED) has announced the launch of Akoun Business Idea Competition 2014, a part of the highly success Akoun Entrepreneurship Awareness Campaign. The fifth edition of Akoun – Entrepreneurship Awareness Campaign, an initiative of ADCED, has gone underway with the aim to inspire and educate Emirati students to become successful entrepreneurs. Launched across different universities in the UAE, Akoun features a series of constructive workshops as well as a rewarding Business Idea Competition.
The workshops are being hosted by successful Emirati entrepreneurs, who are creating an educative forum for students to get all the information about setting up their own businesses. In this regard, over 15 workshops are taking take place in various universities and educational institutions across the seven emirates between January and April 2014. Furthermore, the Business Idea Competition is open to all Emirati students and calls for the submission of brilliant business proposals. Three winners will be chosen from each participating emirate in the UAE, and will be awarded with prize money to kick-start the business they proposed. The best proposal will be rewarded with Dhs25,000, while the winner of second and third position will get Dhs15,000 and Dhs10,000, respectively.
Started in 2009, the Akoun campaign brings together government organizations, educational institutions, and successful Emirati entrepreneurs to initiate the youth towards entering private enterprises and providing them with the requisite knowledge, resources and guidance. Thus, the workshops are held in partnership with strategic partners, including Abu Dhabi Chamber of Commerce and Industry (ADCCI), Higher Corporation for Specialized Economic Zones, The Western Region Development Council (WRDC). As well as partners such as Department of Economic Development, Khalifa Fund, TwoFour54, Dubai Silicon Oasis Authority and The Mohammed Bin Rashid Establishment for Young Business Leaders.
Commenting on the launch of the fifth edition of Akoun Entrepreneurship campaign, H.E. Fahad Saeed Al Raqbani, Director General of ADCED, said, “As Akoun enters its fifth phase, it is fulfilling to see the student and business communities take a renewed interest in our objectives and methods. Consequently, encouraging entrepreneurship among Emirati youth aligns with the UAE’s government strategic goals to develop a strong private sector and reduce its dependency on oil revenues. We will continue to play a key role in educating the Emirati youth, guiding them to establish their own businesses, and support new entrepreneurs across the UAE.”
Last year, more than 2,000 Emirati students from all over the UAE participated in Akoun workshops, which were organized in 22 universities. In addition, the Business Idea Competition’s committee received 148 entries compared to 113 entries in 2012, resulting in the increase of winners from nine in 2012 to 24 in 2013.
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