Dubai
Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince, launched the 12th edition of the Young Entrepreneur Competition on Souq.com.
The competition has attracted over 4,000 projects and 11,000 participants since its launch in 2005, and with the electronic platform through Souq.com, seeks to increase participation further this year. It also aims to offer practical experience in e-commerce, a statement on Wednesday said.
While launching the latest edition of the competition, Shaikh Hamdan said that trade offers an opportunity for young people to enter the business world, launch their own projects, and create their own success instead of waiting for jobs.
“Educating young people about e-commerce [and] its tools and strategies for success is important to developing the next generation of entrepreneurs. We are pleased to see such initiatives, which contribute to stimulating a positive spirit of competition and encourage the young to be innovative, thereby grooming entrepreneurs capable of enhancing the SME (Small and Medium Enterprise) contribution to economic development,” he said
According to Dubai SME, the agency of Dubai Economy mandated with developing the SME sector, the competition has moved from traditional selling in trade to being digital, in light of the growth witnessed in online sales over the past few years.
