MBR Foundation Center For Entrepreneurship and Innovation In American University Of Beirut

| Jul 10, 2008 | comment Leave a comment

Mohammed bin Rashid Al Maktoum FoundationThe Mohammed Bin Rashid Al Maktoum Foundation today announced plans to establish a new center for Entrepreneurship and Innovation at the Olayan School of Business, American University of Beirut (AUB), Lebanon, as part of its continuous efforts to instill the spirit of entrepreneurship in the Arab world.

The Mohammed bin Rashid Al Maktoum Center for Entrepreneurship and Innovation, aiming to serve as a regional nucleus for entrepreneurship research and knowledge dissemination in the Arab world, will be established in collaboration with AUB with an endowment of AED18.3 million (nearly US$5 million).

Under the agreement, the Foundation and AUB’s Olayan School of Business will combine forces to support and develop entrepreneurship-related research, training material and expertise in the Arab world. Through the new centre, the Foundation and AUB will also work towards enhancing regional business capabilities, leading to a better understanding of current and future entrepreneurial activity and challenges in the region.

The Mohammed bin Rashid Al Maktoum Center for Entrepreneurship and Innovation will develop and provide research and training materials fostering entrepreneurship and innovation in the Arab World, thereby contributing to creating conditions conducive to furthering employment and supporting economic activity across the region. Additionally, it will conduct regional entrepreneurship studies to identify barriers to entrepreneurship that individuals, business leaders, corporations and governments can help alleviate.

The center will also serve as a knowledge center for e-students, entrepreneurs and policy-makers by providing entrepreneurship sector analysis, country analysis, profiling and policy recommendations, regular data surveys, as well as relevant business case studies.

Operating as an open source institution for its published output, the centre will offer access to its resources to eligible entrepreneurs, researchers and relevant stakeholders as determined through mutually agreed criteria set by the Foundation and the AUB.

Aimed at promoting job growth and business creation in the region, the Foundation seeks to develop entrepreneurship programmes that facilitate business mentorship, expertise and services among successful and aspiring entrepreneurs. In developing a series of related programmes that support young businesses, the Foundation aims to assist emerging entrepreneurs to explore, identify and seize potential business opportunities across the Arab world.

As part of its efforts to support regional centres dedicated to advancing business education and supporting young enterprises, the Mohammed bin Rashid Al Maktoum Foundation recently signed key partnership agreements with a number of leading organisations and educational bodies across the Arab world including the Dubai-based Young Arab Leaders (YAL), Al Akhawayan University in Morocco, and the Palestine Information and Communications Technology Incubator (PICTI) in Palestine.

# More: Zawya

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