Technology entrepreneurs in the Arab region are to be honoured in a new award, it was announced on Tuesday.
The Arab Science and Technology Foundation (ASTF) has announced the introduction of the Arab Technology Entrepreneur Award 2005, in collaboration with the Islamic Development Bank and Abdul Latif Jameel Company.
The announcement came during a press conference at Dubai Press Club (DPC). The award is a step forward by ASTF to encourage investment within the technology sector, which continues to play a vital role in the success of projects in various sectors, Dr Abdullah Al Najjar, ASTF's President, UAE, said.
"Entrepreneurs are nominated on the level of technological innovation, global competitiveness of their technology, sales success and growth, future revenue potential, their start-up impact on the community and environment, and the entrepreneur's community involvement in promoting technology and entrepreneurship," he said.
The winner will be awarded during the 3rd Investing in Technology Forum which will be held in Manama, Bahrain, from September 27 to 28.
"Ever since it was established, ASTF has been dedicated to supporting the technology sector and pays special attention to the joint scientific projects being carried out to solve problems in the Arab region.
"The ASTF has also been keen on fostering communication between scientists from inside and outside the region and on encouraging Arab governments to support leading-edge scientific research," the ASTF president added.
The award is a gesture of appreciation and recognition given to the most successful technology entrepreneur for their efforts in 2005, he said.
According to Dr Abdul Rahim Al Keeb, Professor and Director of the Electrical Engineering Department, the Petroleum Institute, Abu Dhabi, UAE, eligible Arab entrepreneurs will need to have a business activity in either of the fields of Information and Communication Technology (ICT) biotechnology, nanotechnology, pharmaceuticals, petrochemicals, oil and gas services, water technologies, material sciences and engineering. They also should have a profitable business registered in an Arab country.
Meanwhile, the 3rd Forum on Investing in Technology will feature more than 12 new investment opportunities in technology.
It will shed light on issues related to technological innovation, including the valuation of technology companies in the Arab region and the role of Technology Parks and Incubators in fostering innovation.
The event will be held under the patronage of Shaikh Salman Bin Hamad Bin Eisa Al Khalifa, Bahrain Crown Prince.
It will be held in collaboration with the Islamic Development Bank, the Abdul Latif Jameel Company and the Kuwait Finance House.
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