Cairo, Egypt - July 12, 2009
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The Dow Chemical Company, a leading science and technology company, in collaboration with Young Arab Leaders (YAL), a pan-Arab, non-profit organization that seeks to promote leadership and entrepreneurship among Arab youth, recently announced the participation of Dow Chemical in the 2009 Innovation & Entrepreneurship Initiative, a program designed to support the advancement of entrepreneurs in the Arab world. Dow Chemical is the first company to volunteer in support of the program.
The Innovation & Entrepreneurship Initiative aims to put the private sector into focus, empower ideas and nurture innovation. It will serve as a primary platform where the training of representatives from Small and Medium-sized Enterprises (SMEs) will take place through a process of mentoring, adopting, socializing and networking. In addition, the program’s objective is to foster an entrepreneurship culture in the Arab world through regional awareness campaigns taking place in schools and universities to educate students on the vast opportunities that the path of entrepreneurship can provide.
Dow Chemical in Egypt has become the first region in the Middle East to embark on this programme. Mohamed Sabry, Country Manager, Dow Chemical in Egypt, will host and mentor BioBusiness, a Cairo-based newly-established R&D center for the design, prototyping and development of medical equipment for diabetic patients. As part of the program, Dow will expose BioBusiness to various departments within the Company and offer guidance and feedback on the new company’s business plan.
“The Arab world is facing a crisis: nearly two-thirds of the population is under the age of 25 and many lack access to opportunities that enable them to develop practical skills for the future,” said Mohamed Sabry. “Entrepreneurship presents tremendous economic benefits which contribute to a country’s GDP and employment sustainability,” continued Sabry. “We are especially pleased to be part of this important program. As a company with a long-term commitment to the Middle East, the success of The Dow Chemical Company in the region is linked to the success of young Arab men and women in the workforce.”
Assem O. Kabesh, Chief Executive Officer of YAL, said; “Through all its initiatives and programs, YAL seeks to develop young talent in the Arab region by giving them opportunities to broaden their horizons and assume new challenges. The objective of all our programs is to provide young people with opportunities that will enable them to become dynamic action-oriented leaders. In the current economic climate, where local governments and large corporations will not be able to completely absorb fresh graduates, a focus on a mindset of entrepreneurship and self-employment skills will benefit the regional economy immensely. We are extremely proud of our partnership with Dow for this innovative initiative.”
Commenting on their selection for the coveted program, Islam BadrelDein, Founder, BioBusiness, said: “We are thankful for the priceless opportunity provided to us by The Dow Chemical Company and Young Arab Leaders in their quest to support entrepreneurship initiatives in the Arab region. We are confident that the mentorship opportunity with Dow will equip us with the added skills and knowledge we need to develop a successful and profitable company.”
As part of its commitment to support the aspirations of the local communities in which it operates, Dow is proud to support Young Arab Leaders through its philanthropic arm, The Dow Chemical Company Foundation. The Innovation & Entrepreneurship Initiative is one of several programs developed and funded by Dow as part of the ‘Arab and American Dialogue Program’, a global program designed to foster cooperation between young Arab and American leaders and to help trigger positive change in the Middle East.
About Dow Chemical in the Middle East
Dow has several current and proposed Middle East joint ventures in the UAE, Egypt, Kuwait and Libya as well as in Saudi Arabia, where Saudi Aramco and Dow are in the formation process of a joint venture to build, own and operate a world-scale chemicals and plastics production complex in the Eastern Province. From the opening of its first commercial office in Cairo in the early 1970’s to its facility in Jebel Ali in Dubai and its 10-year partnership in Kuwait with EQUATE, Dow has managed to establish a solid presence in the Middle East petrochemicals industry. For more information about Dow Chemical in the Middle East, please visit www.dow.com/imea/me.
About Young Arab Leaders (YAL)
The Young Arab Leaders is a network of Arab men and women who have seen the power of action in their own lives, reached unprecedented levels of success for their age, are positive and can see beyond today’s difficulties to that vision of a prosperous Arab future. These leaders are currently in prominent positions of responsibility and strive for extraordinary achievement. They believe that their efforts today can have an impact on their communities, countries and the region as a whole. For more information, please visit: www.yaleaders.org
About Dow
For Editorial Information:
Majed Al-Majed
Dow Chemical in the Middle East
+971.4.312.3687
Gaya Subramaniam
GolinHarris
+971.4.332.3308
gsubramaniam@golinharris.com
Gaurav Bhatnagar
GolinHarris
+971.4.332.3308
gbhatnagar@golinharris.com
Upasna Swain
Communications Manager - YAL
+971.4.365.0537
upasna.swain@yaleaders.org
