Ahmad Belhoul Al Falasi honours winners of the Entrepreneurship Challenge

Dubai, United Arab Emirates, 13 June 2024: His Excellency Dr. Ahmad Belhoul Al Falasi, Minister of Education, has honoured the 15 winners of the Ministry of Education (MoE)’s Entrepreneurship Challenge, organised under the umbrella of the Graduate Fund. The honouring ceremony, held at the Dubai World Trade Centre, was attended by His Excellency Zaki Anwar Nusseibeh, Cultural Advisor to His Highness the President of the UAE, and Chancellor of the United Arab Emirates University, along with senior officials from education, economic and entrepreneurship entities across the UAE, as well as many students and young entrepreneurs.

His Excellency Dr. Ahmad Belhoul Al Falasi praised the winners for their innovative ideas and ability to turn theory into practical initiatives and projects. His Excellency said, “We launched the Entrepreneurship Challenge with a future-focused vision for the UAE to become the world’s most competitive country, driven by its people’s contributions. Youth and entrepreneurial mindsets are vital for transforming challenges into opportunities, driving growth, stability and prosperity.”

His Excellency Dr. Al Falasi added: “It was inspiring to see so many youths and students participate in the Challenge, showcasing diverse projects across various sectors. This reflects their wide-ranging passions and ability to design promising initiatives. We at the Ministry of Education are committed to building on this initiative’s success and continuing to support youth entrepreneurship. We believe in the crucial role of applied and practical education in preparing mature, creative and exceptional future generations that can thrive in tomorrow’s world.”

During the ceremony, His Excellency Dr. Al Falasi honoured United Arab Emirates University, Higher Colleges of Technology, and Rabdan Academy for their active roles in making the Challenge a success.

3,617 registered on the initiative’s e-platform, and 321 projects and entrepreneurial ideas participated in the challenge, which were evaluated across multiple stages by a specialist jury. From these, 37 projects and entrepreneurial ideas were selected to reach the final stage. During the ceremony, 15 winning projects were awarded prizes worth up to AED 2 million. The winners were divided into two tracks: the Aspiring Entrepreneur track and the Existing Entrepreneur track, and five categories: Startups, SMEs, Business Innovation, AI and Advanced Technologies and Tomorrow’s Pioneers. Three winners were announced for each category.

The ‘Letswork’ project won first place in the Startups category and the ‘7MD store’ project took first place in the SMEs category in the Existing Entrepreneur track. In the Aspiring Entrepreneur track, the ‘Mawaad’ project won first place in the Business Innovation category, the ‘Space.TYAR‘ project won in AI and Advanced Technologies and the ‘Limb’ project won in the Tomorrow’s Pioneers category.

Prior to the closing ceremony, the MoE organised the Entrepreneurship Festival, the first event of its kind aimed at enhancing the entrepreneurial spirit among university students and graduates. More than 16 speakers and entrepreneurs participated in the festival, which featured educational and entertaining events tailored for all segments of society. These included four interactive workshops, seven entrepreneurial dialogues, three creative competitions with valuable prizes, a photo station, and three popular Emirati restaurants.

The festival showcased the entrepreneurial journey interactively, with visitors exploring seven areas. The journey began in the ‘Discovery’ zone, where entrepreneurs’ passions and interests were identified. This was followed by the ‘Idea’ zone, designed by AI tools to focus on idea generation. The journey then continued to the ‘Action’ zone, which focused on turning ideas into practical projects.

The ’First Customer’ zone enabled visitors to experience the excitement of entrepreneurs earning their first returns, followed by the ‘First Bump’ zone, which highlighted the initial challenges and difficulties facing entrepreneurial projects. Then, in the ‘Failure’ zone, visitors encountered the setbacks entrepreneurs often face. Visitors then ended their journey in the ‘Success’ zone, symbolising the ultimate goal for determined and competitive entrepreneurs.

The Entrepreneurship Challenge is the first initiative of the Graduate Fund, powered by the MoE. Launched to bolster the entrepreneurial landscape, the Challenge aims to foster initiative, innovation, and competitiveness among youth, empowering them to realise their ambitions