Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, has announced the launch of the 10th cycle of the Young Entrepreneur Competition (YEC 2014), to be held under the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince and Chairman of the Executive Council of Dubai.
Online registration for the competition will be open from 7 September 2014 to 16 October 2014 on the website www.yec.ae. For the first time, the competition will also include students in the 5-12 age group in the small traders and beginners categories, to be selected in collaboration with competent authorities.
The competition will last for a period not less than six days during which students from schools as well as public and private universities across the UAE will manage their business projects and sell their products at special kiosks provided by Dubai SME. The objective is to bring the students into a competitive environment that stimulates business culture and work.
“Dubai SME would like to thank His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum for his continuous support for the competition from its inception. YEC has achieved remarkably in identifying entrepreneurial talent among the younger generation at a very early age and in preparing them to enter and excel in the competitive world of business,” said Abdul Baset Al Janahi, CEO of Dubai SME.
Al Janahi added that YEC has seen a growing number of participants every year, contributing to grooming a new generation of entrepreneurs eager to start early and adopt best practices.
“The competition now growing through to the 10th cycle confirms our total commitment to fostering entrepreneurial culture by giving our youngsters exposure in the processes of buying and selling, and in preparing marketing plans for their projects, all within a competitive and real world of business,” said Al Janahi.
Abdul Aziz Al Mazam, Director of YEC Organizing Committee, explained those seeking to participate in the 2014 competition should register online on www.yec.ae and attend workshops, which are part of the approval process and aimed to help the students learn how to develop their concept. Participants will be allowed to amend project data and number of participants after attending the workshops and until they receive the approval on their projects.
The competition will feature a range of projects spanning fashion, fine arts, handicrafts, traditional or heritage products, health products excluding medicines, environmental awareness products (recycling, renewable energy), educational material (games, tools, modern teaching aids), interior design, cultural activities, and information technology.