KIPCO – the Kuwait Projects Company – and the Youth Empowerment Organization (Tmkeen) have announced the beginning of registration for the annual KIPCO Tmkeen Award for Young Entrepreneurs. This is the fourth year that the two entities come together to organize this award, which focuses on entrepreneurial businesses in the e-media and technology sectors.
Young entrepreneurs aged 18-33 with existing businesses established for no longer than five years and licensed in Kuwait are invited to visit the Tmkeen website (www.tmkeenkw.com) to apply for the award. Registration is open until October 22.
Ms Eman Al Awadhi, KIPCO’s Group Communications Director, said:
“Since we began our collaboration with the Youth Empowerment Symposium in 2015, our goal has been to highlight the talent and creativity of Kuwait’s ambitious young entrepreneurs. Through the KIPCO Tmkeen Award for Young Entrepreneurs, we continue to help young men and women to take their businesses to the next level by providing the services of the KIPCO Group companies and lending the expertise of its professionals.”
The KIPCO Tmkeen Award for Young Entrepreneurs offers the grand prize winner services from the KIPCO Group companies worth US$ 100,000, making it the largest entrepreneurship prize in terms of value in Kuwait. The services include a wide range of financial, strategic and operational consultancy sessions, market studies, insurance coverage and advertising services. Burgan Bank, OSN, Gulf Insurance Group, KAMCO Investment Company and Marina FM are contributing their expertise and services to the prize. United Real Estate, Qurain Petrochemical Industries, United Networks and United Education are also supporting the award. In addition to this, the first place winner will be awarded US$ 15,000 in cash, while the second and third place winners will receive US$ 10,000 and US$ 5,000 respectively.
On his part, Mr Ali Al Ebrahim, CEO of Youth Empowerment Organization, said:
“At Tmkeen, it is our mission to educate young people and to inspire them to become entrepreneurs, and thereby contribute to Kuwait’s growing business sector. We are delighted to be partnering with KIPCO and its Group companies for the fourth year, as we work together to encourage young people to use their creativity to establish innovative small and medium enterprises.”
Eligible applicants for the award will be asked to submit detailed information about their business’s operational and financial performance. The first judging round will be held on October 29, where applicants will give a 5-7 minute presentation to a panel of business professionals from the KIPCO Group. Based on defined business criteria, the three applicants with the highest scores will be eligible to give a final presentation of 7-10 minutes at the KIPCO Tmkeen Award Startup Battle on November 5, and the official judging panel will select the winners. The winner of the grand prize will be announced during the Youth Empowerment Symposium on November 6.