UAE’s Ministry of Education announces a competition for entrepreneurs

UAE’s Ministry of Education announces a competition for entrepreneurs

To increase the productivity of Emirati university students and graduates and give them the skills and resources they need to succeed as entrepreneurs, the Ministry of Education has introduced the Entrepreneurship Challenge through the Graduate Fund.

The Entrepreneurship Challenge offers participants the chance to win prizes worth up to Dh2 million, which will be divided among 12 Emirati winners. Apart from receiving monetary incentives, the winners will get the opportunity to participate in advanced incubator and accelerator programs and obtain individualized mentorship and coaching sessions to facilitate their firms’ effective management and expansion.

The program is part of the “Projects of the 50” initiative, which aims to advance the national economic environment and significantly improve the UAE’s developmental trajectory.

Dr. Ahmad Belhoul Al Falasi, Minister of Education, said: “At the Ministry of Education, we are working to nurture, motivate and qualify all talented Emirati university students and graduates and enhance their competitiveness across all fields. We are keen to empower those with entrepreneurial and innovative ideas, enabling them to translate their creative ideas into successful businesses and projects, which contributes to further enhancing the UAE’s world-class entrepreneurial environment that has enabled us to maintain the highest rankings in the Global Entrepreneurship Index globally. The Entrepreneurship Challenge, the first program of the Graduate Fund, fosters the values of innovation and creativity among young Emiratis and encourages them to transform their ambitions into reality.”

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Eligibility

Participation in the Entrepreneurship Challenge is open to UAE nationals between the ages of 18 and 35 enrolled in universities or recently graduated. This includes young entrepreneurs and SME founders seeking to expand their enterprises and those with entrepreneurial ideas they hope to develop into profitable ventures.

By giving them the tools they need to thrive in a competitive setting, the challenge aims to identify the most brilliant and driven entrepreneurs among UAE citizens and enable them to bring their ideas to life.
Within the framework of several programs and initiatives, the challenge is the first program under the Graduate Fund, which the Ministry of Education supports. The program’s goal is to promote entrepreneurial thinking throughout the country and enable present and future Emiratis to explore their entrepreneurial potential, shape their future, and realize their dreams.

What is the deadline / last date to submit the UAE’s Entrepreneurship Challenge Application?

Before May 1, 2024, those who are interested in taking part in the challenge and are students or recent graduates with an entrepreneurial spirit can apply online through the program’s official website.

Do you have a business idea for a new project?

Then participate in the Entrepreneurship Challenge and win the prize up to AED 100,000

Visit https://gradfund.moe.gov.ae/aspiring-entrepreneurs/

Do you have an established business?

Visit https://gradfund.moe.gov.ae/existing-entrepreneurs/

Eligibility

  • Must be Emirati nationals
  • Age must be between 18 to 35 years old
  • Requires a valid trade license
  • Founders and leadership team CV’s
  • Business Model Canvas
  • Last 2 years Bank’s financial statements
  • 5 minutes pitch video

Entrepreneurship Challenge Prize

  • 1st Prize is AED 100,000
  • 2nd Prize is AED 75,000
  • 3rd Prize is AED 50,000

How to contact Entrepreneurship Challenge if you have any queries?

Email : entr@moe.gov.ae

Is it mandatory to upload a pitch video for entrepreneurs challenge?

If the applicant submitted after April 22, 2024 the candidate must upload a video.

For more details, visit https://gradfund.moe.gov.ae/

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