Got a great business idea? 'Speed Pitch' it to Infiniti to win Dh150,000
Japanese carmaker Infiniti has announced the launch of a competitive initiative to give Middle East entrepreneurs the opportunity to take part in a start-up acceleration programme and receive a $40,000 (approximately Dh150,000) investment in their business.
The 11-week initiative – delivered by Infiniti Middle East in partnership with early-stage investment company, Nest - is aimed at driving new business development and elevating budding entrepreneurs in the Middle East.
The campaign stems from the recent launch of the Infiniti Q70 – a vehicle tailored ‘For Those With Drive’ – which Infiniti says blends design, performance and technology and targets individuals with success in their sights.
“At Infiniti, we reward passion and drive,” said Juergen Schmitz, Managing Director of Infiniti Middle East. “The new Infiniti Q70 is born from entrepreneurial thinking, and it inspires passion in others.
“Across the Middle East, Small and Medium Enterprises (SMEs) play an increasingly crucial role in shaping the regional economy. The campaign we are launching today (October 11) celebrates the spirit of entrepreneurship and we are very excited to work with like-minded innovators across the Middle East to recognise – and reward – their drive to succeed.”
The initiative, which will run until mid-December 2015, will be rolled out in three phases.
Phase I (Application): Kicked off on October 11 and will continue for one month until November 11, 2015. Participants can apply by completing the online application form on the Infiniti Middle East website https://www.infiniti-me.com/en/about_infiniti/speed-pitching.html?cmp=speed-pitching
Phase II (Selection): Will see 30 participants invited to participate in the region’s first ‘Speed Pitching’ event in Dubai. To be held in early December 2015, the event will see entrepreneurs pitch their business ideas to regional business champions.
Schmitz added: “There has never been a better time than the present to start a business and we hope that this competitive initiative is the step up that any aspiring entrepreneur needs to get into the driving seat of business.”
Phase III (Finale): Will take place in mid-December. It will take three campaign finalists to the ‘Infiniti Lab’ in Hong Kong for a three-day business development programme. This phase will be a part of Infiniti’s broader partnership with Nest. The three shortlisted finalists will undergo an intensive mentoring and coaching programme with Infiniti, Nest and international industry leaders. The workshop will culminate with the winner being awarded $40,000 of seed level funding.
Simon Squibb, Founder and Chief Executive, Nest said: “Having access to professional mentorship and practical advice can make all the difference for a young entrepreneur looking to get their business off the ground. We are proud to build on our existing partnership with Infiniti and offer our unique support system to the Middle East’s future industry leaders.”
To be eligible for the competition, participants must be able to present a thorough, intelligent and innovative commercial proposition.
The start-up idea can cover any product- or service-related industry, participants must be based in the GCC (Jordan and Lebanon included), and the business and related activities must have a clear focus on the region.