Seven UAE universities participate in Western Union and Al Ansari Exchange 'Business for Better' competition

November 2012

Competition aims to encourage entrepreneurship with a sustainable development agenda
2012 judging panel includes prominent personalities from financial sector, private equity and broadcast industry

Dubai - UAE, November 13, 2012: Seven UAE-based universities have confirmed their participation in the inter-university competition 'Business for Better' being organized by Western Union, a leader in global payment services, and Al Ansari Exchange , a leading foreign exchange and worldwide remittance company in the UAE. In fostering a climate of innovation and entrepreneurship, the 'Business for Better' competition seeks to encourage young entrepreneurs across the UAE to develop into socially, environmentally and financially conscious individuals who can work together to make a difference.

Open to second-year undergraduate students studying in finance, business and economics, the Business for Better competition has received student applications from Abu Dhabi University (ADU), American University of Sharjah (AUS), University of Dubai, Manipal University, Szabist University, American University in the Emirates and University of Sharjah. The 2012 judging panel includes Sobia Rahman, Western Union's Regional Vice President for the Gulf region, Pakistan and Afghanistan, Rashed Ali Al Ansari, General Manager of Al Ansari Exchange as well as prominent personalities from Middle East private equity, venture capital and broadcast industries.

Imad Ghandour, Founder & Managing Director of CedarBridge and a member of the judging panel said, "The entrepreneurial spirit is highly prevalent in the youth of today, who are increasingly looking to make an impact on society through innovative and novel ideas. If we as members of the business community can promote and develop an entrepreneurial culture through various collaborative efforts with the educational sector, it will be beneficial for the students, the community and the economy at large. This competition is an excellent initiative and I commend both organizations for their efforts.

A highly successful entrepreneur, Nima Abu Wardeh, Founder & CEO of cashy.me & CampusCashy.com and Presenter of Middle East Business Report on BBC World added, "I'm a great supporter of those who do - not just talk of doing, and so I am thrilled to be involved in this super initiative. For me, this competition is not about who wins - it's a chance for us all to learn from, and inspire each other. And this is really what cashy.me and CampusCashy.com are all about; sharing information, inspiration and aspiring to have a better life. This competition is all about motivation and belief in your own potential, which are key to empowering yourself to have your best life, no matter which path you pursue. I wish all the students the very best, and well done WU and Al Ansari! We need more practical, hands-on initiatives like this - especially for our youth.

In order to participate in the competition, eligible students based on the criteria described in the Competition Proposal, are required to form teams and apply online, following which they submit their business plan concept papers. Key representatives from Western Union and Al Ansari Exchange jointly screen all submissions and the top 15 concepts are shortlisted for the final round. In the finals, student groups are required to submit their sustainable business plans and present them to the panel of judges.

Read complete report

Return to media page