Proceeding from the fact that youth are the element of change, and that the desired Arab change needs the efforts of its youth, the Union of Arab Chambers as the representative of the Arab private sector, in cooperation with the Arab Academy for Science, Technology and Maritime Transport, the UNIDO Office for investment and promotion of technology in Bahrain, and the Chamber of Commerce and Industry in Bahrain, launched the Arab Rally for Entrepreneurship 2019, with the aim of developing the spirit of innovation and entrepreneurship among Arab youth.
The aim of the Union of Arab Chambers was to open a large area for the participation of all young people in the Arab countries and link them to the needs of the labor market and create more job opportunities in preparation for contributing to sustainable development in the Arab region.
The idea of "Rally" focuses on the selection of young people between the ages of 18 and 30, where half of the participants in the teams competing in the competition are supposed to be university students and the other half of the graduates.
The top three winning teams will be selected to coincide with the occurrence of the 18th Arab Business and Investors Conference in Manama, Bahrain, on November 11-13, 2019, under the slogan 'Investing in the Fourth Industrial Revolution: Entrepreneurship and Innovation in the Digital Economy', and “The World Investment Forum and Entrepreneurs.”
Several teams from 14 Arab countries have applied to participate in the competition: Egypt, Mauritania, Libya, Jordan, Bahrain, Oman, Palestine, Lebanon, Iraq, Tunisia, Morocco, Algeria, Saudi Arabia, and Iraq.
The projects will focus on innovation in technology, the fourth industrial revolution, renewable energy, traditional energy and agricultural technology. The organizing committee has started to study the advanced projects to select the finalist teams, where the prizes will be distributed to the winners of the Bahrain Rally Circuit. "Formula 1".
The competition will help young people transform their innovative business ideas into market-based entities represented by large companies. The top three finalists will receive $ 50,000 in prize money for the first winner, $ 25,000 for the second winner, and $ 10,000 for the third winner.
