Entrepreneurs explain new business models that could herald a bright future
Abu Dhabi, 12 October, 2015
Some of the most talented and creative young entrepreneurs in the Arab region had an opportunity to share their thoughts and hopes on the second day of Beirut Institute Summit in Abu Dhabi. A lively session entitled "Celebrating Our Innovators - Listening Carefully to Theirs Dreams" offered a glimpse of the potential of young regional talent for the benefit of its distinguished audience of regional and international leaders and thinkers.
Moderated by Mona Saliba of MTV Lebanon, the panel discussion featured Ala' Al Sallal, Founder of Jamalon: Loulou Khazen Baz, Founder of Nabbesh.com; Murshed Mohamed Ahmed Mohamed, CEO and Co-Founder of Yebab; and Ola Doudin, Cofounder at BitOasis.
Ala' Al Sallal explained that Jamalon's mission is "to promote the book industry in the Arab world and help readers in the region access the books they need. Readers in some countries faced difficulties in obtaining books for a number of reasons, such as customs restrictions and book bans because of political controversy over the content of some publications."
On the subject of Nabbesh.com, Loulou Khazen Baz said: "In response to the high rate of unemployment in the Arab world, Nabbesh.com was created to provide a platform to help the young generation to secure work through the concept of freelancing. Our aim is to create new job opportunities for millions of unemployed youth and ensure that they get paid for their work."
"While the concept of freelancing is new to the Arab world, there is good cooperation between government and non-government organizations to promote the concept to help create new job opportunities for Arab youth", added Baz.
Ola Doudin explained that her company offered "a new concept of money transfer in the Arab world through the use of innovative technologies to facilitate money transfers using SMS text messaging services."
Doudin added that the "platform provides free and smooth transactions in order to facilitate conversion of small amounts without having to pay a fee for the service."
Citing the success of his Yebab company, Mohamed Murshed suggested that "though youth in the Arab might lack the self-confidence to start their own businesses, the availability of new technologies could open up many opportunities for Arab youth to take advantage of."
Beirut Institute Summit ran from October 10 and 11 and explored the Arab region's challenges and potential through integrated inter-disciplinary perspectives that moved beyond a traditional understanding of the concepts of "political economy" and "security threats". Among the issues under the spotlight at the open-door plenary sessions were the role of smart cities, Arab women's viewpoints and the relationship between ideas and policy.
Saudi-based ACWA Power supported the Summit as gold sponsor, with Consolidated Contractors Company (CCC) as silver sponsor, and the UAE's national carrier, Etihad Airways as the official airline partner. A.T. Kearney supported the Summit as the exclusive Knowledge Partner.
Beirut Institute is considered a leading independent and indigenous think tank in the Arab region; a catalyst for innovative, intergenerational, solution-oriented thinking on issues of pertinence to the Arab region and its place in the world.
The Institute's Board of Directors include: HRH Prince Turki Al Faisal; HE Abdulkarim El Eryani; HE Ambassador Lakhdar Brahimi; HE Dr. Amre Moussa; HE Dr. Barhman Saleh; HE Marwan Kheireddine; Ms Nahla Haidar; Mr Talal Al Shair; Mr Talal Al Zain; Mr Badih Moukarzel and Ms Raghida Dergham the Founder and Executive Chairman.
Beirut InstituteSummit's Co-Chairs are: HRH Prince Turki Al Faisal Chairman of King Faisal Center for Research and Islamic Studies; Iraqi Finance Minister Hoshyar Zebari; Bahrain Foreign Minister Sheikh Khaled Bin Ahmad Al Khalifa; UAE Ambassador to Washington Yousef Al Otaiba; Naseej Co. & Solidarity Group Holding Chairman Khalid Abdulla Janahi; Wamda Capital Managing Partner Fadi Ghandour; APCO Worldwide Founder and Executive Chairman Margery Kraus; and Al-Mawarid Bank Chairman Marwan Kheireddine.
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© Press Release 2015