60 businesses established by students across the Middle East thanks to Boeing and INJAZ Al-Arab Start Up program
- Boeing’s long-term partnership with INJAZ Al-Arab fostering entrepreneurship among youth across the Arab World
Dubai, United Arab Emirates, December 21, 2016 - Boeing (NYSE: BA) and INJAZ Al-Arab have revealed that their Start Up program has supported the establishment of 60 businesses by Arab youth across the Middle East, including 23 in 2016 alone.
Nearly 700 students across the region have worked with INJAZ Al-Arab’s Boeing-supported Start Up program to establish 60 businesses since the program’s inception in 2009. Just this year, Start Up has supported 23 businesses through incubation and acceleration across the MENA region.
The Start Up program was designed to bridge the gap between entrepreneurship education and economic success by supporting the creation of startup ventures. With Boeing’s support, INJAZ Al-Arab embarked on creating a Start Up program for youth, accelerating their entrepreneurial talent into registered, operational ventures within an intense six-month period combining funding, training, mentoring and business operations. A pilot program was operationalized by INJAZ Egypt and an evaluation of this program was completed in 2014. Due to its success in Egypt, the program has been rolled out to in Algeria, Kuwait, Morocco, Oman and Qatar.
“The INJAZ Start Up program is a source of pride for Boeing in the Middle East, as this is an initiative that assists in directly addressing unemployment in the region,” said Bernard Dunn, president of Boeing Middle East, North Africa and Turkey.
“The number of businesses established this year demonstrates the ongoing success of this program and its roll-out across the region will help create a sustainable economic environment. By working with established incubators and partners, Start Up has nurtured a wide range of innovative ideas from students across the region and helped them to take the crucial step in launching a company.”
The program has not only encouraged entrepreneurship but also ensured that innovative ideas are promoted and brought to life across the region. Egypt, the first market to launch has demonstrated how successful this program can be, with a range of forward-thinking businesses opening in Egypt, including RecycloBekia, an electronic waste recycling company serving the entire region that won the Start Up program in 2011. The company is the first in the Arab world offering green recycling of electronic waste and safe data destruction services. KIJAMII, founded by Bassem Elhady through the Start Up program in 2009, is a social media agency that aims at realizing social experiences for their partners, customizing creative solutions and strategies on social media. The company now generates approximately 5 Million EGP in annual revenue.
“Boeing has helped us to bring the Start Up program to life and transform student business ideas into fully-fledged companies that create jobs and new economic opportunities,” said Akef Aqrabawi, President & CEO of INJAZ Al-Arab. “Boeing’s corporate incubation model defines a new method of corporate social responsibility in the region, one that must be learned from and replicated in the interest of the region’s young people.”
Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.
Boeing’s relationship with the Middle East extends back to 1945. Since then, Boeing has established a number of offices across the region, first in Riyadh in 1982, then a dedicated Boeing Defense, Space and Security (BDS) office in Abu Dhabi in 1999, a regional headquarters in Dubai in 2005 and a new office in Doha in 2010. In addition, Boeing has field service teams across the region and two distribution centers for airplane spare parts in Dubai. For further information, please log in to: www.boeing-me.com or www.boeing.com.