Mention Cartier and the immediate vision is a supermodel wearing expensive jewellery or an iconic watch. But there is another side to this blue chip company - promoting women in business.
The Cartier Women's Initiative Awards is an international business competition that identifies and supports women across the world who are starting up their businesses.
Submissions for this year's competition close tomorrow. Here, Olivia Lazare, the project leader for the Cartier awards, talks about why her company launched the initiative in partnership with the consultancy McKinsey & Company, Insead Business School and the Women's Forum, in 2006.
q&a
q Why did Cartier get involved in this competition?
a First of all, I would say social responsibility has always been paramount for Cartier. We really see our commitment to social responsibility as an act that should bring impact to the community. Impact is exactly what we reward through our initiative. So this is one main reason. Then, of course, Cartier is a company that is devoted to - and primarily staffed by - women. This is why women have always been at the heart of our activities.
q But why entrepreneurs?
a It's very in line with our core values of innovation and enterprise. The initiative has been created based on the belief that entrepreneurs drive social and economic development.
q How long has it been open to women in the Middle East?
a We started the project in 2006. At that time we had five regions, and last year, we decided to open to Middle East and North Africa [Mena] and create a sixth category ... because we observed a growth [in the] number of applications from the Middle East.
q How did women in the Mena category perform last year?
a We had candidates from Lebanon and Jordan with very interesting projects. Our 2011 laureate was Rana El Chemaitelly, who created Little Engineer. [She] is from Lebanon and has enabled youngsters from four [years old] to 16 to build basic engineering skills through hands-on activities. She was the winner of the competition.
q What skills and criteria are needed to succeed in the competition?
a We are targeting women who are starting out their business, so really in the initial phase of the development of their business. We are trying to find women who set up companies that bring social impact, that are financially sustainable and also that provide an innovative concept.
q What do the winners receive?
a It's a cool package. We really see it as a stepping stone in order for them to set up their company and expand their activities, which includes a US$20,000 [Dh73,46] grant [and] a full year of coaching. The coaching is provided by an expert from McKinsey, Insead Business School and Cartier. Also, media visibility and networking opportunities because one of our partners is the Women's Forum. The award ceremony takes place in the annual global meeting of the Women's Forum, so for [the winners] it's a valuable opportunity to make business contacts. And, one last thing - they receive an exclusive trophy designed by Cartier.
