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29 March 2024

Young entrepreneurs just could not get enough

Published
By Majorie van Leijen

Roaming around in Wafi Mall was nothing like usual during the Young Entrepreneur Competition 2012, which concluded on Saturday. From every corner enthusiastic young students jumped out trying to get your attention to their ware.

“Could you please support us? We worked really, really hard on it!” was a common incentive heard to make you have at least a glimpse on what was on display.

For most students, a glimpse only was not enough. “We would really like to stay more. We are making good profits,” said Ummulkiram, an Indian 16-year-old student sharing a stand with her schoolmates.

‘Books and bling’ is the concept that the young ladies are promoting - a combination of used books and hand-made silverware.

“It seems to work very well. We attract customers with silverware, but the books are the items that are sold most,” tells the enthusiastic science student.

The four-day long Young Entrepreneur Competition brings together over 2,000 students from different nationalities and from schools and universities throughout the UAE. In line with Dubai support for small and medium enterprises, YEC encourages young people to develop their business ideas, aiming to create a new generation of entrepreneurs.

“I sold my first painting ever,” tells the 15-year-old Hind Abdulmajeed after she jumped out of her stand with another painting in her hand. Hind did not know she could paint until two years ago, when she started to experiment with the art. “Now I am considering pursuing a painting career.

“We sold my favourite painting for Dh175, and I still feel a little weird. I spent a lot of time on that painting, and now it is going home with somebody I don’t know. It is a little scary actually, and I asked him to take good care of it,” the Iraqi student artist said.

The competition is not only about the products. “Participants should maintain a high level of etiquette and business standards in dealing with customers and visitors to the mall. The YEC team is on the ground on all four days of the exhibition, offering assistance to enable students to participate in the competition in the right spirit of entrepreneurship,” says Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME.

“Buyers get a second item for free when they purchase one, and when they buy two they get two free items,” explains the 21-year-old Emirati Nader Seddiq when asked how he lures the customer to his stand, where he sells iPhone, iPad and BlackBerry coats.

“It is very difficult to keep on smiling while people are rude,” says Hind. “Not everybody is interested in art, and not everybody responds nicely. But we always have to keep a smile on our face.”

According to Ali Reza Nadali, who partnered with the art-selling team, the YEC is a good place to learn. “I really appreciate we get the chance to do this. We learn a lot while being on the actual market trying to sell out stuff,” says the 15-year-old Iranian commerce student.

“This is the first year that university students are included, so the event is more likely to create a new generation of entrepreneurs in the shorter term. If the participant is successful, we might see their business in the market within two years,” says Amira Khalafallah.

For Nader, time is not an issue. “I started my first business when I was 19,” says the Emirati. “Now I sell repaired watches for below the market price, and I do business in phone accessories like the phone coats. I even changed my major from science to accountancy. I know this is what I want to do,” he tells while rounding up a two-for-the-price-of-one deal with a customer.

The exhibition that takes place at a different venue each year has attracted a large number of visitors from the very first day, and the ending leaves participants saddened, as they have much more stuff to sell. “We invested quite a lot of money in our ware, and we would like to be able to sell more of what we have,” says Ummulkiram, a sentiment shared by most participants.

Although the end will mean returning to the daily school-hours schedule that the young entrepreneurs were able to temporarily escape from, the event has one last blast to come.

On Saturday April 7, a 15-member jury will announce the results of their evaluation of the performance of the participating students.

Top ten best performing young entrepreneurs will be selected based on a set of criteria ranging from marketing, customer service, operations, and other factors such as innovations and sustainability. After that, the best two projects will be selected by a voting audience and the judging panel.