The ‘Enterprise Challenge Qatar’ 2015, a competition designed to develop the spirit of entrepreneurship amongst young people, has recognised the winners of the Universities’ Grand Final Competition. Team ‘El Classico’ from College of North Atlantic Qatar claimed the first prize at this year’s final round of the business simulation and business pitch competition between 11 universities in Qatar.
The winning team took home a prize of QR 20,000 to support funding their business idea and its implementation within their university campus.
Second place was awarded to the ‘Virtuoso’ team from Qatar University; while ‘The Price Takers’ team from Carnegie Mellon University in Qatar were awarded third place.
The ‘Enterprise Challenge Qatar’ is an annual competition that encourages and inspires the entrepreneurial spirit among young people in Qatar, enhances their business knowledge and equips them with valuable skills including team work and strategic thinking.
The ‘Enterprise Challenge Qatar’ programme has different tiers for high school and university students, and is made up of two parts comprising: the Ethical Business Challenge, which tests participants’ ability to balance the economic, environmental and social performance of their company; and the Business Simulation element which familiarises students with general business concepts from inception through to trading, finance, sales, marketing and production.
This year, to make the competition more challenging for university students, the ‘business pitching of ethical and original business ideas’ was introduced to the programme. This additional aspect of the programme saw the top six finalist teams pitching their business concepts to a panel of expert judges, showing how they would start-up a small profitable business within their universities.
Abdulaziz Al Khalifa, Chief Executive Officer of Qatar Development Bank and Chairman of Bedaya Centre said:
We believe that entrepreneurship is the cornerstone of a knowledge-based economy. Therefore Bedaya’s mission to encourage young people to consider entrepreneurship as a career option is key to fostering a thriving private sector and ensures its sustainability for future generations.’
I am delighted by the continuous success of our partnership with Qatar Shell, which has led to over 120 mentors, from across the country’s business and academic community, contributing their valuable time and energy to coach the students through a series of intensive mentoring sessions.’
Michiel Kool, Managing Director and Chairman of Qatar Shell Companies said:
We are delighted that The ‘Enterprise Challenge Qatar’ programme continues to expand and increase in popularity. Over the past three years, it has reached more than 1,200 students, and this academic year we hope to almost double that figure. I would like to thank our partners Bedaya, the Supreme Education Council, Qatar Centre for Voluntary Activities, and Mosaic, without whom we would not have been able to achieve such a positive impact.’
The ‘Enterprise Challenge’ initiative was created by Mosaic, a UK-based not for profit organisation established by HRH the Prince of Wales in 2007, with a range of mentoring programmes aimed at fostering opportunities for young people. Qatar Shell is the founding partner of Mosaic in Qatar, and together with Bedaya, has worked to bring the ‘Enterprise Challenge’ to Qatar.
A video message of support from HRH The Prince of Wales, was shown at the ‘Enterprise Challenge Qatar’ university finals. In the video His Royal Highness says:
As founder of Mosaic I would particularly like to express my gratitude to all those very generous organisations and individuals who have provided financial support and wise council over the years to develop Mosaic’s work in the United Kingdom, and, increasingly our work overseas.’
On this occasion Mohamed Amersi, Mosaic Advisory Board Member, said:
I am thrilled that the ‘Enterprise Challenge Qatar’ continues to go from strength-to-strength, and each year involves ever more students and universities. Mosaic has enjoyed a hugely successful partnership with Qatar Shell and Bedaya since the ‘Enterprise Challenge Qatar’ was first established and we are truly grateful for their on-going support. On behalf of Mosaic, I would like to congratulate all the participants in this year’s competition and I urge them to use the leadership skills and entrepreneurial spirit they have developed through this programme, not only in their studies and in business, but also in their everyday lives.’
The universities that took part in this year’s competition include Qatar University; Qatar University, Carnegie Mellon University in Qatar, College of North Atlantic Qatar, Stenden University Qatar, Academic Bridge Programme, Hamad bin Khalifa University, Georgetown University Qatar, Community College Qatar, University of Calgary Qatar, Qatar Faculty of Islamic Studies, Texas A & M University Qatar and University College London Qatar.