Mashrooi Initiative Launch

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Under the patronage of His Highness Sheikh Nahyan Bin Mubarak Al Nahyan Servcorp launches “Mashrooi” initiative in collaboration with the Higher Colleges of Technology in Abu Dhabi

Abu Dhabi, 8^th May 2013:Under the patronage of His Highness Sheikh Nahyan Bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development in the UAE, and in the presence of His Excellency Pablo Kang, Ambassador of Australia to the UAE and Qatar, Servcorp, in collaboration with the Higher Colleges of Technology, the largest higher educational institution in the UAE, Khalifa Fund for Enterprise Development, Abu Dhabi Commercial Bank, the official bank sponsor, Etihad Airways, and i-Style launched “Mashrooi” initiative, aiming to foster the birth of national champions by providing a starting platform for local Emirati entrepreneurs to explore their potential.

Mashrooi is an entrepreneurship package that equips young Emiratis with the essential elements to start their business at an economical cost. The Mashrooi package provides applicants with a dedicated phone number and receptionist to handle their calls, a premium business address in the prestigious Al Mamoura building, free internet usage as well as access to a global network of meeting rooms, offices and executive business lounges.

A roadshow will be organized across six of the HCT campuses to present the competition and provide the students with the necessary information. The candidates will then be granted a period of one month from the date of the roadshow to prepare and submit their business plans to Servcorp. A designated panel of experts will then evaluate the business plans and select the top ten applicants which will move to the final stage of live operations. The finalists will receive a Servcorp Mashrooi package which allows them to benefit from Servcorp's business solutions and work in a professional environment. This initiative will conclude with an award ceremony which will take place in October 2013.

Sultan Karmostaji, Associate Provost of the Higher Colleges of Technology commented: “Education is the core element to the advancement of communities and Servcorp's Mashrooi Initiative is an innovative education tool aimed at equipping local Emirati entrepreneurs with the needed elements to start up a business and become the next Abu Dhabi National Champion”. SMEs contributed 60% to UAE GDP in 2011. This sector represents the biggest employer in the country.

Ali Darwish, Head of Human Resources of Abu Dhabi Commercial Bank commented: ADCB's partnership to the Mashrooi Initiative once again demonstrates our commitment to the further development of SME growth in the UAE and our support of the very high standards of education available to the bright, young minds of the UAE in order to achieve their entrepreneurial ambitions. We thank both Servcorp and Higher Colleges of Technology for the great work done in this space.

“These competitions foster the spirit of entrepreneurship and innovation among the youths which is one of Khalifa Fund's goals. The Fund will continue its efforts to support such activities which empower the investment awareness as well as the culture of innovation and creativity in the society”, said H. E. Abdullah Saeed Al Darmaki the Chief Executive Officer of Khalifa Fund for Enterprise Development.

Laudy Lahdo, Servcorp's manager for the Middle East, explains: “Servcorp has been striving to provide opportunities and exposure to entrepreneurs and to SMEs, enabling them to benefit from world-class standards at low cost”. And she adds: “Seeking to develop business potential in today's generations and efficiently keeping up with their needs is not new for Servcorp. We offer them the possibility to profit from international presence and expertise, and lead them toward success and development”.

By using Servcorp's effective solutions and global corporate infrastructure, SMEs and entrepreneurs can benefit from professional support and world class infrastructure that will facilitate the way they do business.