Registration for the first ever KIPCO Tmkeen Award for Young Entrepreneurs, which commenced in early September, has now closed. A large number of media and technology businesses applied for the award, which is a partnership between KIPCO – the Kuwait Projects Company – and the Youth Empowerment Organization (Tmkeen).

Registration, which extended for three weeks, was open to entrepreneurs aged 18-33 with existing media and technology businesses established for no longer than five years and licensed in Kuwait.

Ms Eman Al Awadhi, KIPCO’s Group Communications Director, said:

“At KIPCO, we believe that the empowerment of young people is critical for the development of the nation. Our partnership with Tmkeen to launch this award has helped us reach out to the talented youth of Kuwait and encourage them to grow their passions into successful businesses. KIPCO Group representatives are looking forward to greater interaction with the applicants during the first judging round, where we will be lending Group expertise in the areas of planning, finance, technology and marketing to help the young business owners to evaluate their businesses from different angles and develop a strong plan to move forward.”

On his part, Mr Ali Al Ibrahim, CEO of the Youth Empowerment Organization, said:

“The number of eligible applicants has exceeded our expectations, especially as we are targeting the media and technology sector this year. As partners with KIPCO on this project, we are delighted at the immense interest that this award has generated among the tech savvy business community in Kuwait. We sense the excitement of the applicants not only to compete for the valuable prize, but also to benefit from the expertise that KIPCO Group will be sharing with them.”

The preliminary judging round will take place on October 31, where eligible applicants will give a 5-7 minute presentation to a panel of business professionals from the KIPCO Group. Based on defined business criteria, the ten applicants with the highest scores will be eligible to give a final presentation of 15 minutes before the official judging panel in early November.

KIPCO Group – Burgan Bank, OSN, Gulf Insurance Group, KAMCO Investment Company, United Real Estate, Qurain Petrochemical Industries, AUK, AUS, United Networks and Marina FM – is offering the winner a bundle of services valued at US$100,000. The services include a wide range of financial, strategic and operational consultation sessions, market studies, insurance coverage and advertising services.

The winner of the grand prize will be announced at the opening of the Youth Empowerment Symposium on November 9.