ABU DHABI // A hearing aid that works underwater, a car service centre operated by women, for women and a digital wristband that communicates a patient’s health history and medical needs. These were just three of the top 15 competition entries presented on Monday at the inaugural Emirates Award for the Arabian Gulf Youth hosted by the Emirates Foundation.
The competition launched earlier this year and invited youths between the ages of 18 and 35 to come up with a viable business solution to a social problem. More than 500 entries were received from across the GCC and the best 15 teams were flown to Abu Dhabi this week to present their plans in front of a panel of six judges and an audience of about 100 people.
“We know, and our leadership knows, that youth are a really powerful resource for contributing to the development of this country, now it is a question of how we can enable them to give their best, to give back to the country through ideas, through enterprises,” said Maytha Al Habsi, chief programme officer for the Emirates Foundation.
“This is just one of the initiatives that allows for this to happen – empowering youth, guiding them and mentoring them so they can give back to their own country and participate in the development.”
Three teams came from the UAE, four are from Saudi Arabia, five from Bahrain, one from Oman and another was an international team with Emirati, Omani and Kuwaiti members. One team was unable to attend the event.
Intesar Al Hajri, a 25-year-old Emirati from Abu Dhabi, worked with colleagues Ahmed Al Blooshi and Maha Al Dhaheri to come up with a fashionable wristband that digitally stores a person’s medical history and needs.
She said the idea came to her after her father became ill on a trip and was issued medication that adversely affected his health.
“If they can not speak, the bracelet can speak if they fall down or something,” said Ms Al Hajri. “We will solve this problem by having this flash USB that has the medical history, what kind of medicine he can take, if he has any allergies, so we don’t have to take papers. We don’t have this in the Middle East.”
Emiratis Saeed Al Nazari and Mashaal Al-Marzooqi proposed a crowd-funding website called Factory of Dreams designed specifically to help low-income young entrepreneurs. Their idea came from their own experiences facing difficulties making their own professional dreams come true, said Mr Al-Marzooqi.
“We know there are existing sites for crowd-funding here in the UAE and around the world but the difference between us and them is we are really focused on Islamic finance and we are looking for people who really need the funds, we are not giving the funds for everyone,” the 23-year-old said.
Fatma Al Hashimi, a 32-year-old Dubai businesswoman, hopes she impressed the judges with her idea to set up a mobile beauty centre for children with special needs.
“Salons in the UAE are not equipped to welcome the special needs and the people working in the salons are not specialized for special needs for doing the haircut,” said Mrs Al Hashimi, noting her proposed mobile salon would essentially be a modified ambulance.
The top three winners will be announced at a special ceremony on Tuesday night. The first-place winner will take home Dh100,000 and one-year of mentoring services, the runner up will win Dh70,00 and the third-place winner will get Dh50,000 toward making their plan a reality.
Judge Muna Al Gurg, director of retail for the Easa Saleh Al Gurg Group, said the winning team must have a plan that is innovative and self-sustaining.
“At the end of the day, it has to be something sustainable, you need to be able to run without having to sort of rely on other people’s means,” said Mrs Al Gurg. “Another thing that we look at is innovation and passion for the idea – it sort of has stood out that a lot of these candidates are predominantly very passionate about their ideas. That’s a very positive thing to see.”
rpennington@thenational.ae
Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
The specs: 2018 Mitsubishi Eclipse Cross
Price, base / as tested: Dh101,140 / Dh113,800
Engine: Turbocharged 1.5-litre four-cylinder
Power: 148hp @ 5,500rpm
Torque: 250Nm @ 2,000rpm
Transmission: Eight-speed CVT
Fuel consumption, combined: 7.0L / 100km
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
if you go
The flights
Air France offer flights from Dubai and Abu Dhabi to Cayenne, connecting in Paris from Dh7,300.
The tour
Cox & Kings (coxandkings.com) has a 14-night Hidden Guianas tour of Guyana, Suriname and French Guiana. It includes accommodation, domestic flights, transfers, a local tour manager and guided sightseeing. Contact for price.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Most F1 world titles
7 — Michael Schumacher (1994, ’95, 2000, ’01 ’02, ’03, ’04)
7 — Lewis Hamilton (2008, ’14,’15, ’17, ’18, ’19, ’20)
5 — Juan Manuel Fangio (1951, ’54, ’55, ’56, ’57)
4 — Alain Prost (1985, ’86, ’89, ’93)
4 — Sebastian Vettel (2010, ’11, ’12, ’13)
If you go
Flying
Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.
Touring
Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com
Results
Stage 5:
1. Jonas Vingegaard (DEN) Team Jumbo-Visma 04:19:08
2. Tadej Pogacar (SLO) UAE Team Emirates 00:00:03
3. Adam Yates (GBR) Ineos Grenadiers
4. Sergio Higuita (COL) EF Education-Nippo 00:00:05
5. Joao Almeida (POR) Deceuninck-QuickStep 00:00:06
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates 17:09:26
2. Adam Yates (GBR) Ineos Grenadiers 00:00:45
3. Joao Almeida (POR) Deceuninck-QuickStep 00:01:12
4. Chris Harper (AUS) Team Jumbo-Visma 00:01:54
5. Neilson Powless (USA) EF Education-Nippo 00:01:56