BBIC Semi-finalists Announced

Developing online trading solutions, a tourism portal, recycling, a web-based real estate company, SMS brokerage services, environmental friendly fertilizer, recycling and an eco-tourism are among the new ventures shortlisted as semi-finalists for this year's TKM – Ernst & Young Big Business Idea Competition.

The TKM – Ernst & Young Big Business Idea Competition, Oman's annual business plan competition, has selected 10 potentially high-growth businesses, drawn from entries from around the sultanate, to compete for 12 months rent free accommodation in the Knowledge Mine incubator program based at Knowledge Oasis Muscat (KOM) plus RO6,000 in start-up finance.

The 10 semi-finalists are in the early stages of setting up businesses based on innovative science, technology and design. The semi-finalists are:

o Musallam Al Shukairi – online trading strategies for SMEs
o Amal Al Maamari – Eco-tourism hotel
o Abdullah Al Kindi and Zuhair Al Harthy – online real estate
o Bader Al Hinai – SMS brokerage services for property and goods
o Saada Saif Al Harthy – mobile toilets
o Hamed Al Aghbari and Musallem Al Rahbi – web GIS
o Ammar Al Ghazali – recycling
o Sami Al Khalbani – organic fertilizers
o Talal Rakha – automated business solutions
o Majda Al Hinai and Maha Al Bulushi – tourism portal

"The TKM – Ernst & Young Big Business Idea Competition is a prestigious launch pad to raise investment and create high-value technology and knowledge-driven companies. Moreover, it's an initiative that's intended to raise the profile of innovation and entrepreneuship amongst Oman's youth. We want to get young people thinking about starting a business and everything that's involved in that process. Putting start-up ideas down on paper is a great mental exercise," commented Mohammed Al Maskari, Director General, KOM.

The semi-finalists will present their business plans to a panel of judges in late October, four selected finalists will then be given the opportunity to deliver 5 minute elevator pitches to a panel of judges at the Award Dinner scheduled to be held 5 November at the Crowne Plaza Hotel. The competition has attracted substantial support from Ernst & Young; The Week; National Bank of Oman; NCR; Ericsson; Nawras and the Information Technology Authority. "We couldn't have put the Competition together without the support of our sponsors and judging panel," remarked Ibtisam Al Faruji, Head of Marketing, KOM.

Abdullah Al Jufaili, Director, TKM, said: "The competition was launched in June by HE Ahmed Al Dheeb, Under Secretary, Ministry of Commerce & Industry and is aimed at Omani entrepreneurs, students and small business owners interested in starting or growing a technology and knowledge-driven business in the TKM incubator program. We attracted more than 70 entries, in fact the response has been excellent."

Beginning in June contestants were offered a series of three free workshops, delivered by Ernst & Young, designed to help guide emerging companies through the process of developing and writing a business plan.