DUBAI: Magnus Olsson, Co-founder and Chief Experience Officer of Careem, the Dubai-based transportation network company, described the UAE as a country of hope that embraces innovators based on the inspiring and motivating vision of its wise leadership.
Mr. Olsson’s observations were made as guest of honor at the Higher Colleges of Technology’s (HCT) LEQA forum, held recently at the HCT-Dubai Men’s campus. LEQA (Learning from Entrepreneurs through Questions & Answers) is an interactive forum where HCT students and employees hear from senior management leaders and entrepreneurs in UAE commerce and industry, on how to be successful in the 21st century’s globalized economy.
Mr. Olsson told the audience of approximately 800 HCT students, staff and faculty that he is inspired by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, as a strong leader from whom we learn valuable lessons. He further expressed his pride in being a resident in the UAE, which he considers home.
He enthralled the audience with an account of the challenges in establishing Careem and its ultimate success story. He advised that Careem succeeded in providing an easy transportation option to individuals in the Arab world, as well as creating job opportunities for youth, thereby reducing unemployment rates. Hence, it achieved its founders’ and partners’ main objective of finding a concept to provide a beneficial service to the public.
Careem has now become a household name across the greater Middle East, it has more than 3,000 permanent employees across an operational network that spans 13 countries. Careem has created more than 1,700,000 income opportunities and through its platform, enabled customers to use their Reward points to donate to more than 500,000 meals to children across the world via the WFP “Share a Meal” programme.
Mr. Olsson added that ample opportunities are available for youth to establish similar businesses, especially in the UAE, where government institutions support innovation, entrepreneurship and the establishment of small and medium enterprises.
“The key to success is to set their ideas and launch them confidently, gradually overcoming their hesitation and challenges along the way. It is a learning experience that will ultimately pave the way to success,” he said.
He noted that the joint efforts of a dedicated team are also essential for success, emphasizing the importance of motivating staff and allowing them to grow their passion so as to believe in the business idea and adopt it fully.
Dr. Abdullatif Al Shamsi, HCT President and CEO, said that he was pleased to host such an inspiring business person and entrepreneur as Magnus Olsson, particularly as Careem was founded in the UAE and is a great model of success. He quoted HH Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, who said in reaction to the acquisition of Careem by Uber that “many businesses have flourished in the desert of Dubai, as the world opens up to those who are determined to succeed and prove doubters wrong”.
Dr. Al Shamsi pointed out that the regular LEQA forum hosts successful Emirati and international entrepreneurs and innovators in order to instill an entrepreneurial culture in national youth, so as to make full use of the InncuVation centers, or innovation hubs, in several HCT campuses, which have been set up in support of the HCT 4.0 pillar of graduating companies, thereby assisting young Emiratis to set up their own businesses.
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About the Higher Colleges of Technology (HCT)
Founded in 1988, the Higher Colleges of Technology (HCT) is the UAE’s largest applied higher educational institution, gaining a well-respected reputation for innovative education practices and job-focused experiential learning. Approximately 23,000 students attend 16 modern, technology-oriented men's and women's campuses throughout the UAE. HCT offers over 70 academic programs in Applied Media, Business, Computer Information Science, Education, Engineering Technology & Science and Health Sciences.
These programs are all designed in consultation with business and industry leaders, and incorporate principles of Innovation and Entrepreneurship to ensure HCT students’ skills are up-to-date and to the highest standards. The HCT courses are a hybrid blend of innovative, technology-driven academic studies and work-relevant programs, ensuring that HCT graduates have the necessary 21st century skills to make positive and lasting contributions to society in the 4th Industrial Revolution.
The HCT 4.0 strategic plan, which is strongly aligned to the goals of the National Employment Strategy 2031, was launched in March 2019 with the theme of Employability and Beyond, and consists of three pillars - “Technical Leaders”, “No Emirati Left Behind” and “Graduate Companies”. HCT 4.0 will equip UAE’s National workforce with future skills required in the labor market, so as to meet national goals. It will also empower graduates and employees to be familiar with technological updates and enhance their skills, so as to keep pace with accelerating job changes dictated by the 4th Industrial Revolution and the rapid development of Artificial Intelligence skills.
HCT is a vital contributor to the national agendas, including providing education opportunities to every male and female Emirati and also being announced as a free zone, under the UAE’s Fifty Year Charter”, which stipulates that UAE public and private universities will be announced as free zones that allow students to carry out business and creative activities. In addition, the HCT is prominent in its role as a federal institution by promoting applied research opportunities to faculty and students. The HCT has also embraced a global perspective on applied education by establishing the Global Applied Education Network (GAEN), which sees it partner with global educational institutions.
Media Contacts:
HCT – Paul Lancaster plancaster@hct.ac.ae or +97156 5011167
HCT – Abrar Mikkawi amikkawi@hct.ac.ae or +971565011147
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