Entrepreneurship competition launched

MANAMA: A new edition of the Business Plan Competition 2021 has been launched by the Entrepreneurship Training Centre (ETC).

An initiative led by the Bahrain Small and Medium Enterprises Society (BSMES) in partnership with Tamkeen, the centre was set up at the Bahrain Chamber of Commerce and Industry (BCCI) in February last year.

The competition is open to all students that are a part of the ETC programme, which is run in co-operation with the Labour and Social Development Ministry.

A total of 50 Bahraini jobseekers are being trained to become owners of entrepreneurial projects as an alternative to employment.

The competition aims to stimulate entrepreneurship among students, who are challenged to develop a viable new product or service, prepare a business plan and make a video to convince potential investors to invest in the business.

Registered participants will go through a qualifying round where they have to submit a written business plan.

Entries with a weighted score of 60/100 or higher will progress to the second round where they will submit a 5-8 minute ‘pitch’ video describing the market opportunity and proposed product/service.

Selected finalists will present their business plan to a panel of judges.

BSMES president Ahmed Al Saloom said: “The ETC serves as a stepping-stone for future entrepreneurs, especially in a critical time, where initiatives such as this are needed for the kingdom.

The competition allows students to be part of a vigorous practical experience where they will get to experience the entrepreneurial journey firsthand learning all the necessary elements to creating successful and sustainable ideas. We look forward to the new ideas and plans being presented to us this year, and hope they can inspire others to take the same path, and create alternative sources of income and potentially a business they can run that will contribute to the economy and its various sectors.”

Applications for the competition will be accepted until Monday.


Source: https://www.gdnonline.com/Details/944287


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