Yesterday the Emirates Foundation has announced the launch of the fourth edition of the Emirates Award for the Arabian Gulf Youth, EAAGY. The announcement was published in a press release on Emirates News Agency website.
Like the past three editions, the award’s objective is to cater to the social entrepreneurship potential of young individuals and help them to lead social enterprises by addressing and tackling challenges.
Among the Emirates Foundation’s key initiatives, this award is one of the most important ones. Social entrepreneurs from UAE and all across the GCC are eligible for the award if they are aged between 18-35. The key competencies are development of innovation solutions to regional social issues and suitability.
A senior panel of content and sector experts will shortlist 15 entries who will attend an intensive boot camp training. A group of highly trained professionals will supervise them and eventually the efforts of the participants will be assessed by the judges to announce the winner.
Member of the Executive Council of Abu Dhabi and Managing Director of Emirates Foundation, Sheikh Sultan bin Tahnoon Al Nahyan, said: "We are delighted to announce the Fourth Edition for the Emirates Award for the Arabian Gulf Youth which has demonstrated over the years youth awareness of social issues, their insights into the challenges and their ability to articulate solutions to deeply rooted social causes in a relevant and sustainable manner. Today, our main goal behind EAAGY is to create a social entrepreneurship mindset and empower youth to create innovative revenue generating ventures using market driven mechanisms to solve key and urgent social problems, while making a positive impact on society as a whole."
The winners will receive training and mentorship from leading UAE based organizations like Young Arab Leaders and Al Ahli Group. Moreover, they will also receive a year-long membership with waived fees on all services from the National Programme for Small and Medium-Sized Enterprises run by the Ministry of Economy, so that they can attend national and international training and exhibitions. They will also get easy access to federal government tenders. The prizes look very lucrative indeed.
Maytha Al Habsi, Chief Executive Officer at Emirates Foundation, said, "The Emirates Award for the Arabian Gulf reflects Emirates Foundation commitment to create an enabling environment that fosters the growth of social entrepreneurship. We are witnessing a great deal of interest, especially amongst youth in the establishment of social enterprises, recognising their ability to deliver benefits in a self-sustaining way, using revenues to address social challenges through unconventional approaches that complement the work of the private and public sectors, thereby creating a valuable third sector, key to sustainable development."