Four BBIC Finalists Battle it Out
GPS technology, SMS brokerage service, online real estate and a tourism portal, are the new technology ventures shortlisted for this year's TKM – Ernst & Young Big Business Idea Competition final. The four finalists are potentially high-growth businesses and were drawn from entries from around the sultanate. The four finalists will have the opportunity to compete on 13 November for RO6,000 in start-up finance and 12 months free office acommodation in The Knowledge Mine business incubator program based at Knowledge Oasis Muscat.
“The TKM – Ernst & Young Big Business Idea Competition is the first of its kind in Oman and has sparked tremendous interest both domestically and internationally,” commented Abdullah Al Jufaili, Director, TKM. This year’s event which was open to entrepreneurs, students and small business owners interested in starting or growing a business appropriate to creating jobs, attracted more than 70 entries when it began in June. Over the summer period contestants were offered a series of four free workshops - delivered by staff from Ernst & Young - designed to help guide emerging companies through the process of establishing and growing a new business.
The finalists are:
o Oman Geometrics – Hamed Al Aghbari and Musallem Al Rahbi.
o Dallali – Bader Al Hinai
o Aqaroman – Abdullah Al Kindi (pictured) and Zahir Al Harthy
o Oman Gateway Portal – Majda Al Hinai, Zawan Al Sabti and Maha Al Balushi.
The four finalists will present their business ideas to a panel of judges on 13 November and give elevator pitches to an audience of entrepreneurs, government personnel and investors at a celebration award dinner at the the Barr Al Jissa Spa & Resort. The judges will award the winner with start up funds of RO6,000 plus 12 months free office accommodation at the Knowledge Mine incubator program. The 2006 competition attracted sponsorship from Ernst & Young; Ericsson; National Bank of Oman; NCR; Nawras; The Week; isurf.co.om; and the newly-formed Information Technology Authority.
The goal of the competition is to provide the winner with an adequate initial financial foundation to start or expand their business. The businesses that have entered the competition span a variety of industries from tourism to agriculture to, of course, technology. “We’re delighted with the response to this year’s competition and the diversity of business concepts represented in the plans we received,” stated Ibtisam Al Faruji, the Competition Co-ordinator: “This experience has stretched every contestant and made them all winners!”
