Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum launches the 12th cycle of the Young Entrepreneur Competition in Dubai on Wednesday
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, launched the 12th cycle of the Young Entrepreneur Competition (YEC) on Souq.com on Wednesday.
He said the UAE was one of the first countries in the region to take an interest in e-commerce as it started preparing a technical and legislative framework as well as infrastructure to facilitate and support e-commerce long ago.
The Crown Prince emphasised the importance of introducing the young from an early age to the benefits of trade and the new tools of e-commerce. It will have an impact on their education and inspire them to take advantage of the optimistic projections on the growth of e-commerce globally.
The YEC has had a significant impact on potential entrepreneurs since its launch in 2005, attracting more than 4,000 projects and 11,000 participants. The new electronic platform seeks to drive participation further and offer practical experience of e-commerce.
Hamdan said: "Educating young people about e-commerce, its tools and strategies for success is important in developing the next generation of entrepreneurs. We are pleased to see such initiatives which contribute to stimulating a positive spirit of competition and encourage the young to be innovative, thereby grooming entrepreneurs capable of enhancing the SME contribution to economic development. The UAE will always be a role model for development, motivating young people and preparing and assisting them to benefit from such development." - Wam