BAHRAIN. Tamkeen’s “Mashroo3i” Youth Business Plan Competition is progressing well with talented young Bahraini participants delivering live presentations of their Business Plans to the competition judging panel from Thursday 14 June to Saturday 16 June.
Once the series of presentations is completed, the top 30 projects will be selected for the final stage. Projects will be judged based on many factors including creativity and uniqueness. The judging panel includes:
• Nezar Al Saie - Owner and Managing Director N.A. Saie, Delta Partners
• Dr. Jameela Al Mahari - Professor at College of Business Administration in University of Bahrain
• Joseph Kirikian – Investment Manager – Private Equity in Mumtalakat
Winners then proceed to the prototyping phase leading up to a special three-day fair (July 12 – 14) at Bahrain City Center to market their ideas to potential customers and investors in a lifelike experience.
The competition will conclude on the final day of the fair with a final ceremony in which Mashroo3i awards will be handed out to the winning teams.
The projects and business plans were a result of hard work put in by students working in groups under the supervision of mentors who offered guidance and advice in weekly meetings with their respective student teams. The mentors are comprised of leading business, education, and civil society figures, and include:
• Hassan Haidar – CEO of Tenmou
• Abdullah Al Absi – Owner of Blaze Burger
• Brandon Moseley - Founder and Managing Director, Sylvan Learning Bahrain
• Damien Balmet – VP of Corporate Development at Mumtalakat
• Roua Al Hayki - Founder and CEO, ADAMOV Management and Consultancy
In addition, the students attended weekly presentations at the Directorate of Training in the Ministry of Education covering a wide array of helpful topics. The presentations were delivered by leading experts and knowledge providers.
The “Mashroo3i” initiative is part of Tamkeen's mission to encourage and promote entrepreneurial culture in Bahrain. It gave Bahrainis aged between 16 and 23 the opportunity to unleash their business creativity and learn how to write a viable business plan. Since its launch on 8 March this year, more than 200 young talented Bahrainis applied to participate in this nationwide competition. The nation-wide participation is a reflection of the success of the initiative and its popularity among the local youth.
The competition offered valuable educational lessons and provided an opportunity for young Bahrainis to learn from experts in a systematic, interactive, and fun manner.
The competition's website, www.mashroo3i.bh, also served as an information center offering participants training and educational material and resources to help them during the competition.
Tamkeen was established in August 2006 as part of Bahrain’s national reform initiatives and Bahrain Economic Vision 2030, and is tasked with developing Bahrain’s private sector and positioning it as the key driver of economic development.
Tamkeen’s two primary objectives are: 1) Fostering the creation and development of enterprises, and 2) Providing support to enhance the productivity and growth of enterprises and individuals.
Under each of those objectives, a number of mechanisms and programmes have been identified based on detailed studies of the labour market to identify current and future gaps for individuals and enterprises and how to address them.
As of December 2011, Tamkeen has injected more than BD 166 million into the private sector through its programmes, targeting over 100,000 Bahrainis and enterprises.
Moreover, it has made in excess of BD 166 million available through its financing portfolio, and enabled over 3,000 Bahrainis find employment, and more than 1,000 enterprises to participate in leading local, regional, and international trade fairs and exhibitions.
In 2012, Tamkeen plans on launching more than 20 new initiatives. These programmes range from training aimed at developing human capital – whether students, employees, employers, or job seekers - to match acquired skills to market requirements, and other programmes which enhance the productivity of individuals through promoting awareness of successful practices in the private sector. For enterprises, Tamkeen provides professional consulting services to raise their performance, and facilitates access to financing to bridge the enterprise financing gap. In addition, Tamkeen is also leading other national initiatives which enhance investments in Bahrain.
Tamkeen’s funds come from 50% of the fees collected from the Labour Market Regulatory Authority.