Under the patronage of HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Chairman of the Emirates Foundation for Youth Development, the Emirates Foundation announced the launch of the Emirates Award for Arabian Gulf Youth, a competition that aims to encourage youth from around the region to solve the challenges facing society through the creation of a social enterprise. This award is launched to reflect the vision of the foundation in supporting the youth, developing their skills and enabling them to serve their communities.
His Highness Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Chairman of the Emirates Foundation for Youth Development said “The Emirates Award for Arabian Gulf Youth aims to support, motivate and unleash our young people’s social entrepreneurship potential and to establish long-term enterprises to create real, positive and sustainable social impact in the lives of youth in this region.”
His Highness called upon the youth of the GCC to participate in this award which addresses social problems and aims to find solutions to improve the community by encouraging creativity and constructive ideas. The award also challenges and encourages the new generation of entrepreneurs to innovate which on its own benefits various spectrums of the community in the region.
Winners of the award, which seeks to encourage ideas from young people between the ages of 18 and 35 years, will receiving funding and incubation from Emirates Foundation to develop their social business idea. The award is designed to show young people that they have the capacity to effectively give back to their communities for long-term benefit. The award will also focus on providing opportunities for youngsters to gain new skills, learn from successful entrepreneurs and with leading figures in philanthropy, government and business in the region.
Business ideas nominated for the award will need to create a positive social impact on the community with a long-term capacity to be scalable, sustainable and generate revenue. Concepts should be able to tackle challenges that the community faces through an innovative business model. Additional criteria for judging will include the level of expertise and innovation and quality of business model and its financing scheme.
Maytha Al Habsi, Chief Programmes Officer at the Emirates Foundation said “This award plays an important role in involving the youth in the advancement of society through the expression of their ideas in an effective manner to serve the development of their communities”. She added however is interested in participating must submit his idea through a video demonstration. The teams and individuals behind the top 15 ideas will be invited to present their ideas to a team of judges from the investment, government and philanthropy communities in a special event.
Clare Woodcraft, CEO, Emirates Foundation said “At Emirates Foundation we are committed to supporting youth initiatives that create real and sustainable social change. We have built strategic partnerships with esteemed entities and organizations within the GCC who will support this platform. The Foundation’s business model is about taking a ‘business-based’ approach to delivering social value so it’s great to see how this has resonated with our partners. We have brought together a panel of highly experienced judges from the world of social enterprise. Our winners will be supported by incubation grants and mentoring from us and our partners across the GCC.”
In support of the teams and individual who will take part in the award, Al Habsi said the Foundation will be arranging a special course to increase the candidates awareness of methods for presenting ideas and to enhance their planning and business development skill.. The top 3 winners will be honoured by the Foundation in their annual event which takes place in the end of each year, the winners will also be granted funding for their social enterprise projects either by the Foundation or by the Foundation’s partners in the GCC.