Already recognized as a fast emerging economy, the UAE is also proving to be a world class environment for entrepreneurship after five new candidates were unanimously selected into the global Endeavor organization for high-impact entrepreneurs. Holding their own against other top business owners from around the world at the recent International Selection Panel (ISP), UAE entrepreneurs proved that government efforts to diversify the economy beyond oil revenues are working.
With the UAE Ministry of Economy reporting the value of the UAE’s non-oil foreign trade as having grown 10 per cent from 2014, and trade, e-commerce, manufacturing, food and hospitality industries showing no sign of slowing down, the push for entrepreneurship in the UAE has never been stronger.
Of the 35 international entrepreneurs selected from 24 companies, the UAE’s Nathalie Haddad, founder of healthy meal delivery service Right Bite; Ambareen Musa, founder of the region’s leading financial service comparison website Souqalmal.com; and Bilal Ballout, Mohamad Ballout and Mohamad Khachab, co-founders of BMB Group, a confectionery manufacturing business,demonstrated the high caliber entrepreneurial talent both flourishing in the region, and highly sought after by Endeavor UAE. Already highly successful with the potential to transform industries, communities and countries, Endeavor seeks to catalyze their next level of growth.
“We are delighted our entrepreneurs have received international recognition at this latest ISP, and that the UAE’s diverse and dynamic business landscape has garnered attention worldwide. Endeavor Entrepreneurs have a significant track record of creating hundreds of thousands of jobs, generating billions of dollars in revenues and being role models who enable the next generation of entrepreneurs. We are confident that present and future entrepreneurs will continue to power this burgeoning economy and are excited to help enable that.” said Noor Shawwa, Managing Director of Endeavor UAE.
The culmination of a rigorous and extensive multi-step selection process, Endeavor’s 63rd and largest ISP held outside of the United States took place over three days in Dubai and involved a panel of top global business leaders and investors from Endeavor’s extensive network of mentors. Once selected into the Endeavor organization, entrepreneurs gain access to customized services which include introductions to local and international business mentors, access to capital, and volunteers from Fortune 500 consulting firms. To date, Endeavor supports 1,233 entrepreneurs leading 779 companies in 25 emerging and growth markets around the world.
The latest candidates bring Endeavor UAE’s portfolio to 20 entrepreneurs from 14 companies successfully selected into the organization. Current entrepreneurs include Michael Lahyani of Propertyfinder.ae; Ravi Bhusari, Derv Rao, and Brian Sigafoos of Duplays; Mona Ataya of Mumzworld; Shariarh Khodjasteh and Shahin Khodjasteh of Dubai Desert Extreme (DDE); Idriss Al Rifai of Fetchr; Ayman Fakoussa and Dipesh Depala of The Qode; Dr. Sassan Dieter Khatib-Shahidi of German Imaging Technologies (GIT); Wadih Haddad of The Box; Riath Hamed of Balqees Honey; Aly Rahimtoola of Harmony Cosmetics; and Abishek Shah of RSA logistics.
