Sultan Al Habsi's BBIC Address
Your Excellencies, Distinguished Guests, Ladies and Gentlemen
Welcome to the 2006 TKM – Ernst & Young Big Business Idea Competition Gala Dinner.
As many of you will be aware, PEIE hosted the World Summit on Innovation and Entrepreneurship at this hotel earlier in the year – this event emphasized the need to create and nurture a stronger domestic culture of innovation and enterprise. Building on this message, we launched in June, the TKM – Ernst & Young Big Business Idea Competition, a national initiative that is intended to raise awareness of the start-up culture, particularly amongst Oman's youth. Indeed, the TKM – Ernst & Young Big Business Idea has brought together entrepreneurs, financiers, academics, government agencies and supporters to promote enterprise ideas, introduce them to potential funding, encourage business networking and explore the formation of new markets and partnerships.
I am delighted to tell you that the competition attracted over 70 entrants from across the sultanate – many more than we had expected. Business plans were submitted from a wide variety of sectors, from eco-friendly fertilizer, adventure tourism, paper recycling, SMS brokerage services through to online real estate. All highly creative and innovative ideas.
The business plans were evaluated by our judging panel and a shortlist of 11 semi-finalists was drawn up. From these 11, four teams were chosen to present at this evening's function.
Reaching the final of the BBIC opens the door to opportunity. The quality of entries was very high and our experienced judges are not easily impressed, so reaching the final is a great achievement. I do not envy the judges' task of picking a winner this evening, although we could not have had a better panel of judges and I wish the four teams competing this evening the very best of luck.
Thank you very much I hope you enjoy the rest of the evening.
As many of you will be aware, PEIE hosted the World Summit on Innovation and Entrepreneurship at this hotel earlier in the year – this event emphasized the need to create and nurture a stronger domestic culture of innovation and enterprise. Building on this message, we launched in June, the TKM – Ernst & Young Big Business Idea Competition, a national initiative that is intended to raise awareness of the start-up culture, particularly amongst Oman's youth. Indeed, the TKM – Ernst & Young Big Business Idea has brought together entrepreneurs, financiers, academics, government agencies and supporters to promote enterprise ideas, introduce them to potential funding, encourage business networking and explore the formation of new markets and partnerships.
I am delighted to tell you that the competition attracted over 70 entrants from across the sultanate – many more than we had expected. Business plans were submitted from a wide variety of sectors, from eco-friendly fertilizer, adventure tourism, paper recycling, SMS brokerage services through to online real estate. All highly creative and innovative ideas.
The business plans were evaluated by our judging panel and a shortlist of 11 semi-finalists was drawn up. From these 11, four teams were chosen to present at this evening's function.
Reaching the final of the BBIC opens the door to opportunity. The quality of entries was very high and our experienced judges are not easily impressed, so reaching the final is a great achievement. I do not envy the judges' task of picking a winner this evening, although we could not have had a better panel of judges and I wish the four teams competing this evening the very best of luck.
Thank you very much I hope you enjoy the rest of the evening.
