Supported by Citi Foundation and Provided at University of Dubai
Dubai- "My Business idea had been a dormant dream but I never thought I possessed the skills to make it a reality. Today, after attending this training program I feel very confident. The training program with its professional trainers and mix of guest speakers gave us the 'real world' scenarios and today my idea has been translated into a business plan and I am excited and motivated to start."
Buthaina Nader's thoughts resonated well with the other 25 women who attended a rigorous 3 month training program on "Entrepreneurship and Business Plan Development" at the Center for Management & Professional Development, the community outreach arm of the University of Dubai (UD). Program was concluded today through a certificate award ceremony held at the Dubai Chamber. All the participants were felicitated, while awards were presented to the three best business plans.
The Entrepreneurship program for women initiative is part of the Joint Venture for Finance & Entrepreneurship (JVFE), which was established in January 2005 as a joint venture between UD and Citi through an equal grant from the Citi Foundation. The center aims at enhancing the qualifications and skills of UD's merit students specializing in Management, Marketing, Finance & Banking and Accounting, and addresses the entrepreneurial qualifications of women through specialized and focused workshops. Recently, the Citi Foundation provided a 4th year grant of USD 50,000 to JVFE.
The initiative allows for 25 women to enroll on a fully sponsored training program. The goal of this program is to assist potential women entrepreneurs who are keen to plan and develop their business ideas into functioning enterprises managed by them on a full time basis, the necessary skills, and knowledge base.
"The course has helped me crystallize and materialize a business idea I had for many years into something real," said Marjan Faraidooni, who also attended the course. "Had it not been for the past 3 months, I would have only talked about something I wanted to do. I am proud to say that I am well on my way to executing my dream and making it a reality."
The program covered topics such as screening of business ideas, understanding the industry and competition, elements of marketing and understanding how consumers buy, importance of cash management, product pricing, various marketing dimensions, how to so simple market research, cash flow management, financial planning, business plan development, putting the plan to work, and looking at ethical and legal concerns as well as the regulatory environment.
"Our strategic alliance with UD will mean that more entrepreneurs and more deserving students as well as aspiring entrepreneurs will have the chance to succeed and excel," said Mohammed Al-Shroogi, Managing Director for the Middle East and Chief Executive Officer for Citi in the UAE. "The success of the JVFE sets a benchmark for a working alliance between academic and business institutions in the UAE."
Dr. Omar Hefni, President, UD, said: "JVFE is a unique proposition designed to address UAE's labor market need for the right talent and enhance entrepreneurial skills. The scholarship program as well as the Entrepreneurship workshop have already brought many UAE nationals and residents closer to realizing their post-academic work plans."
Usha Saraf, Manager, CMPD at University of Dubai said: "I can proudly say that this is a one of a kind program being delivered in this region. Although it is the fourth consecutive year, the content of the program has evolved considerably with every passing year making it more relevant, practical and hands-on with full applied content. The rigor of the program demands that participants as well as the trainers (who are industry practitioners) are pushed to yield results and the quality of the individual business plans submitted speak volumes. It is extremely rewarding to be instrumental in enabling the women to realize their dreams."
Citi has been present in the Arab World for nearly fifty years and continues to view the region as critical to its global franchise. It is currently present in ten Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.
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Participants' Comments on Entrepreneurship and Business Plan Development Seminar:
'Absolutely wonderful and informative course. Not only did the experience provide me with an opportunity to address my business plan, but it also provided me the opportunity to grow and learn about myself as a person. I am feeling energized and eager to start applying what I have learnt into my business plan. This course was great. Great in terms of practical, useful strategies with a good understanding of why they would work. The practical and theory were very well woven into the program and that allowed for a great learning experience for us all. Simply, great information and great experience!!'
Salma Mohammed Mubarak Thani
'I would like to thank citi and University of Dubai for providing me with the opportunity to attend the program.
I found it very informative and it allowed me to improve my skills and gain knowledge to apply it in the real life and work. The program was very practical and hands on and exposed us to a lot of topics every day. I am confident that I much better prepared today to set up my own business the right way. I benefited greatly by interacting and sharing with other participants in class. I would encourage all women to take up this program.'
Naila Almarri
The Entrepreneurship Training Program sponsored by CITI Foundation nd delivered by The Center For Management & Professional Development, University of Dubai knows how to launch new business professionals. We have benefited in many ways from the well designed course. The administration staff kept us organized and well informed while the course progressed. Good teaching is a gift and our teachers were well chosen. Their qualifications and professionalism were matched by their friendly and approachable attitude. Moreover, the subject matter equipped us with the tools needed to take our first step into business. The best part was meeting and connecting with such a diverse and interesting mix of business minded entrepreneurs.'
Mary Margaret Gama
'As a neophyte in Entrepreneurship, I learned valuable affirming concepts and tactics, which I trust, set me in the "right" direction for my future venture in Dubai. The outstanding lectures and the opportunities of meeting well-accomplished guest speakers and getting to know fellow classmates from varied professional and cultural backgrounds created a supercharged learning atmosphere for me. I also found your professional staff and your student support staff to be kind and considerate and most helpful. Overall, the experience was most rewarding and I really appreciated this learning opportunity that the University of Dubai and Citi Group gave to me.'
Di Tang
'When I was interviewed for admission I was asked how someone with an already established business like myself would benefit from the course. Surely, I should have done the course before starting the business! The information given both in the marketing, financial and managerial fields helped me structure myself and my activity better and more efficiently. Sharing experiences and business ideas with my classmates was motivating and fun and sharing experiences with professional consultants and successful business owners really broadened my mind. It was great to be part of a classroom again and yet, see the direct positive influence that what I was learning had in my office the next morning. If there is something I regret is definitely the length. It would have been great to continue longer!!'
Olimpia Tabbach
'Before starting the program I had a faint idea about how to set up a business, but I didn't know how to put my ideas together to make the right business plan. By attending the course I started to combine my ideas and thoughts together and every day of attendance made me more confident on how to set up a business. The presentation made to the internal jury and their critic of my plan was the highlight of the program. Their evaluation and feedback has motivated and enthused me to take my plan to the next step. I would like to thank UD for giving me this wonderful opportunity and thank all the trainers and UD staff who were behind this successful course.'
Buthaina Nadher
'A fabulous program that empowers today's women. I would like to thank Citi and UD for providing us all such a world-class program that allows for capacity building in women and in turn contributing to the development of the local economy. This program has helped us get closer to the real world. We have been privileged to listen and share experiences with business leaders, practitioners, and successful entrepreneurs. In all it has been a wonderful learning experience for all of us.'
Jhorna D. Guha
'The opportunity to be part of this exciting class goes to prove the commitment of Citi and UD on enabling females, forwarding the SME sector in the region and driving continued growth and cultural co-operation with all the many different nationalities present in Dubai today. Having a UK business already, this class gave me the 'know-how' for Dubai. The lecturers were professional, knowledgeable and thought in 'real-world' scenarios. I now feel well equipped to set up my clinic in Dubai with the latest business, marketing, finance and lots of enthusiasm.'
Janet Ann McConnon
'Through my attendance of the course I have been able to define the vision of my business and identify the critical elements that I will need to address to have a competitive advantage in the market. The instructor's were extremely knowledgeable and were industry experts who have played a major role in helping me think of different ways to ensure that my business will be successful.
The course has helped me crystallize and materialize a business idea I had for many years into something real; Had it not been for the past 2 months, i would have only talked about something I wanted to do. I am proud to say that I am well on my way to executing my dream and making it a reality.'
Marjan Faraidooni
'My overall evaluation of the course was brilliant! It was exactly what I was looking for at a time when I needed advice and know how, as the business activities in my company needed reviewing and fine tuning.
The course was extremely practical and hands on which was what I benefited from the most. It has been an excellent boost to my confidence having now received the basis to build a business and also to continue higher education in business studies.
I found the lectures interactive and enjoyable and the guest lecturer spots kept the motivation of the class. The regular lecturers were well chosen and extremely knowledgeable in their professions. I would definitely recommend this course to women who have the motivation and dedication to start their own business, and learn how to keep it alive!'
Caitlin Picker
'Very informative program. Listening to the guest speakers sharing their experiences and networking with classmates who already were in different stages of setting up their business enhanced my learning. I feel I am much better prepared and motivated today to face the challenges of setting up my business.'
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About Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com
About Citi Foundation
The Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where we work throughout the world. Globally, the Citi Foundation is focusing its giving on Microfinance and Microentrepreneurship, which helps individuals become economically self-sufficient; Small and Growing Businesses, leading to economic expansion and job creation; Education, which prepares young people for personal and professional success; Financial Education, which helps individuals make informed financial decisions; and the Environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment. Additional information can be found at http://www.citigroupfoundation.com/.
About Citi Financial Education Program
Based on the belief that knowledge is your greatest asset, the Citi Financial Education Program is a global, company-wide effort to identify, support and implement initiatives that help give individuals, families and communities the tools needed to make sound financial decisions. Citi's 10-year, US$200 million global commitment is focused in three areas: Personal, Small Business and Institutional Financial Education. Additional information about the Citi Financial Education Program, including Citi Foundation guidelines, links and resources and the Citi Financial Education Program Curriculum and Facilitator's Guide may be found at http://financialeducation.citigroup.com
About University of Dubai (UD)
University of Dubai (UD) was created in early 1997 by the Dubai Chamber of Commerce & Industry (DCCI) to address the skills and qualifications gap in the workforce and to support the government's Emiratization initiative through human resources development programs in the private and public sectors. In January 2000, a decree issued by the Dubai Ruler's Court granted UD its legal status. Soon thereafter, the UAE Ministry of Higher Education and Scientific Research (MOHE) granted UD a license to develop and award its own degrees. September 2001 saw the commencement of UD's new portfolio of Academic Programs.
Starting April 2001, UD has undergone a complete restructuring and re-engineering process under a new leadership for having sound and effective processes and policies for implementation. These processes and policies have been approved by the MOHE and serve as guidelines for effective implementation of our academic programs from the academic years 2001 and 2002.
UD provides Professional short courses, Seminars and Conferences to the Public and the Business Community in Dubai through the Center for Management & Professional Development. It works closely with the Dubai Chamber of Commerce and Industry (DCCI) in delivering tailor-made programs to the DCCI's members and business groups. The Center is also concerned with the development of the UAE national work force, and provides specific work oriented training programs for this segment of society. Research and consultancy related activities at University of Dubai are coordinated with the Center to ensure maximum fit with the requirements of the public and private sectors in the UAE.
For further details on this press release, please contact:
Usha Kaul Saraf
Manager, Center for Management & Professional Development
University of Dubai
Tel: (04) 2211187 extn 226
Email: ukaul@ud.ac.ae
Aisha Ali
Media Relations
Citi
Tel: ++971 4 604 4250
Email: aisha.mohammad.ali@citi.com
© Press Release 2008
