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The Abu Dhabi Entrepreneurship Forum 2013 (ADEF) has attracted massive attendance from regional and global delegates, under the patronage of His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
During his speech, special guest Chad Hurley, co-founder of global social video-sharing giant YouTube said: “I would like to express my delight and honor at participatingin this forum, as it gives me the platform to share some valuable insights that I have learnedsince I launched YouTube with my partners Steve Chen and Jawed Karim.Our brand has become a global icon, and I believe this forum can facilitate knowledge transfer that nurtures other global brands.”
He added that it is vital for business owners to give themselves the mental space to conceptualize big ideas and explore their creativity to its fullest. This would ultimately lead to innovative problem-solving, strong leadership, higher financial returns and eventually stronger economic growth.
According to Hurley: “When young people get access to such a pool of experience from established entrepreneurs, it accelerates their learning process since it means they don’t have to wait to learn everything the hard way. This will help the nation build a knowledge-based economy where intellectual assets are just as valuable - if not more valuable - than physical assets.”
Commenting on the event, Abdul Malek Al Jaber, Founder and CEO of MENA Apps said: “The magnitude and significance of this forum proves that we have reached a turning point in our region, with the youths taking on greater responsibilities. They form the largest proportion of the population, so they should also be allowed a greater proportion of the opportunities in entrepreneurship. I personally believe that this forum is the best possible platform to learn from success stories regionally and globally, so that we can create our own successes.”
BadrJafar, Managing Director of the Crescent Group and co-founder of Global Gumbo Group said:“By hosting high-profile eventslike the Abu Dhabi Entrepreneurship Forum, the Khalifa Fund continues to pioneernew pathways in entrepreneurship, championing the role of a new breed of smart SME’s. In my viewthis forum is the idealopportunity to transform fledgling ideas intosuccessful market leaders.”
Jafar explained that today’s global corporate giants were at one point only start-ups, citing theexample of Gulftainer - a subsidiary of the Crescent Group, which began its operations as a small port operator in Sharjah in 1976:“By adopting the best practicesin business and enhancing its efficiency and innovation, Gulftainer has today become the world’s largest privately-owned port operator, managing world-class terminals in the UAE, Saudi Arabia, Iraq and Brazil. The Abu Dhabi Entrepreneurship Forum can nurture similar success stories, helping emerging local companies to maketheir mark on the global economic landscape.”
Buthaina Al Mazroui and Princess Nora BintHashim, owners of Bretton Dinner Club, also concurred that this forum can bridge the gulf between local start-ups and the more established market leaders, asdelegates benefit from the decades of experience of world-renowned speakers.
Faisal Al Hammadi, co-founder of Slices, said: "Ourregion has one of the most promising and fastest growing economies in the world. Added to that,we also benefit from highly supportive government mechanisms that facilitateend-to-end opportunities -from start-up funding right up to the launch ofthe projects, and favorable terms for their operations.”
He added that the main obstaclesinclude streamlining the procedures for launching new projects, reducing the operating expenses and revampingthe bankruptcy policies. However he conceded that these obstacles are outweighed by the positive factors such as business incubator centers that empower entrepreneurs to fully develop their ideas.
Sana Bagersh, CEO and founder of ‘Tamakun’, said:“The SME sectoris one of the key growth engines that shapes the economic landscape, and is also a major driver of job creation. There is a wealth of fresh ideas and ambitious visions, if we can only give entrepreneurs the opportunity to contribute to our socio-economicinfrastructure.”
She added that the big advantage of SME’s is that their owners have more leeway and freedom to innovate and take calculated risks with new ideas, whereas bigger companies might not have as much flexibility and are more risk-averse.
Commenting on his experience at the forum, RabeaAtaya, CEO and Chairman of Bayt.com said: "It is quite evident from this forum that the entrepreneurial spirit is deeply rooted in the region. At Bayt.com we have a proud track record of assisting emerging companies to recruit top-notch talent. Human capital is a crucialmake-or-break area for the success of any business, so we are proud to be professional matchmakers helping young entrepreneursto find compatible candidates who can elevate them into a sophisticated, advanced operation.”
Giving an insight into the benefits of participating in the event, Ala’aEraiqat, CEO of ADCB said:
“It gives us utmost pleasure to have been part of the Abu Dhabi Entrepreneurship Forum 2013; we look forward to tackling the next stage in the evolution of the SME segment in the country. The Government of Abu Dhabi and the United Arab Emirates are already playing an internationally commendable role in supporting rising entrepreneurs, and as part of Abu Dhabi’s Economic Vision 2030, the Emirate has already put in place economic policy priorities, in favor of Small and Medium Enterprises.
We at Abu Dhabi Commercial Bank believe that this segment will significantly contribute to, if not lead the growth trajectory towards the ‘New Normal and Sustained Economical Boom’. We pledge to continue supporting this vital segment, as SMEs are the lifeline to strong, competitive and thriving economies.
His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth & Community Development, officially opened the forum in the presence of His Excellency Sultan bin Saeed Al Mansoori, Minister of Economy;His Excellency Mohammed Omar Abdullah, Undersecretary of the Department of Economic Development; and a number of senior officials, decision-makers and entrepreneurial specialists from across the region and beyond.
The opening session of the forum focused on the theme of "Transforming economies through entrepreneurship.” Renowned speakers explainedhowentrepreneurs can lead a renaissance in the region’s economies by promoting strong leadership and innovation that achieves prosperity for all segments of society, while taking advantage of the available international opportunities.
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