The Arab Science and Technology Foundation (ASTF), a regional and international non-profit NGO, in collaboration with Intel announced the launch of the 4th Arab Technology Business Plan Competition, and the start of the 2nd Made in the Arab World Competition, across more than ten Arab countries including the UAE, KSA, Jordan and Egypt.
ASTF was established in 2000 by Arab scientists and researchers in order to identify and support outstanding scientific achievement within the region. The Foundation also seeks to promote the advancement Arab entrepreneurship by acting as a mediator between up and coming companies and investors.
Commenting on the announcement, Ferruh Gurtas, Corporate Affairs Group Director, Intel Middle East, Turkey and Africa said: ‘The Middle East is an exciting and dynamic region with a growing number of entrepreneurs – many of whom require initial funding to launch their projects. The 4th Arab Technology Business Plan Competition does just that. It is an opportunity for young, Arab entrepreneurs to map out and transform their ideas from a concept to a tangible working company. At Intel we believe entrepreneurship is a key driver for emerging Middle East economies. As the region begins to compete on an increasingly global scale, these skills, coupled with technological expertise will help local businesses to excel in an international marketplace.’
The Arab Technology Business Plan Competition strives to support and assist Arab entrepreneurs to transform their ideas into successful ventures by providing them with access to potential investors and venture capitalist that are willing to finance promising technology start-ups through the Arab Investment Forum, which is held annually in one of the participating Arab nations.