Thursday, November 01, 2007

Oman Souq Online Wins 2007 BBIC Title

Under the patronage of the Minister of Commerce & Industry, HE Maqbool bin Ali Sultan, Oman Souq Online led by Anwar Al Tobi, Abdulhakeem Al Tobi and Badriya Al Baqlani received the top award at this year’s TKM – Ernst & Young Big Business Idea Competition held on Sunday evening at the Crowne Plaza Hotel, Muscat.

Founded in 2006 by Knowledge Oasis Muscat and supported by Ernst & Young, Nawras, Ericsson, NCR, Talal Abu Ghazaleh Intellectual Property, Infocomm and Oman Economic Review the annual competition recognizes and celebrates Oman’s most inspiring business plan.

Organizer of the annual competition, Hilal Al Ahsani, CEO, Public Establishment for Industrial Estates said: "I congratulate the winning team of Anwar Al Tobi, Abdulhakeem Al Tobi and Badriya Al Baqlani and all those short-listed for the competition because many of them have developed potentially winning ideas for areas which are crucial to our economy.”

At the award ceremony Mohammed Al Maskari, Director General, Knowledge Oasis Muscat (KOM) said: “Innovation depends on taking ideas right through to become fully-fledged marketable products and services. Annual competitions like this which help mentor and develop people to market and sell their ideas can only help us in boosting innovation in Oman."

Al Ahsani added: “I’m thrilled to see the growing, important contribution the TKM – Ernst & Young Big Business Idea Competition is making in showcasing young Omani entrepreneurs. The value of role models can not be underestimated and each of our finalists is someone that other young entrepreneurs will aspire to be like. I know that some things are universal when it comes to achieving business success - it takes vision, determination, commitment, sacrifice and passion. This year’s four finalists are testament to that and I applaud their incredible achievements."

To help realise their ideas, Oman Souq Online will have access to 12 months rent free office accommodation in The Knowledge Mine incubator program based on KOM. They will also receive RO4,000 in start-up cash, RO2,000 in telecommunication and Internet credit from Nawras and access to regular business mentoring sessions

Philip Stanton, Managing Partner, Ernst & Young – Oman, and lead sponsor of the business idea competition added: “This year’s finalists are talented and determined young men and women who all have the potential to be tomorrow’s business leaders. They are innovators who are true role models. I know they will inspire many others to take up the challenge of the TKM – Ernst & Young Big Business Idea Competition in future years.”

Blog contents copyright © 2006 PEIE