Gulf Bank is a main sponsor of this year’s ''Company Program'' competition

 

 

• Lujain Al-Qenaei: We are keen to support and empower local youth and aspiring entrepreneurs
• Laila Al Mutairi: Gulf Bank has always been a major supporter of INJAZ activities, reflecting the Bank’s commitment to our longstanding strategic partnership

 

Kuwait, 26 May 2022: As part of its continuous support for local youth, and in commitment to a partnership that is in its 17th consecutive year, Gulf Bank announced it is a main sponsor of this year’s INJAZ Kuwait “Company Program” competition. The annual competition is set to take place on May 27-28, and will culminate with the announcement of the best student project.

 

The Company Program is extremely popular among local high school and university students, as it provides an unprecedented opportunity for students to practice establishing and managing companies, from developing a business idea to conducting feasibility studies, selling shares, working as management teams, developing business plans, producing and selling products and services and eventually liquidating the company with profit/loss statements.

 

During the first day of the competition, students will have their projects evaluated by a jury that will include Gulf Bank’s Head of Investment Management, Dalya Al-Qassem. On the second day, the winners will be announced, with the winners also having the opportunity to participate in the annual INJAZ Al-Arab competition and compete with other budding entrepreneurs from all over the Arab world.

 

This Year’s Contestants

 

At the university level, four companies will be competing this year: “Tvarodeco,” a project by Algonquin University students, is a platform that promotes the services of local freelancers; “My Bag,” by ACK University students, is a company designed to help freelancing students, young professionals and workers organize and work remotely; “Ttryzabeel," by Ktech students, is a smart wastebasket; “G Pharmacy,” by Box Hill College students, is designed as a government application that links Kuwait's pharmacies with hospitals and clinics.

 

Four secondary education and high schools will also be competing this year: “Step,” a project by the New English School, is designed to fight obesity, while the American Cultural Academy has submitted three projects: “Active,” a project designed to advance youth financially and intellectually, “Eco International,” a company that produces a biodegradable vegetable mask made from abaca, and “Envo Char,” a company that is introducing an environmentally friendly fertilizer.

 

Local Entrepreneurship

 

On this occasion, the Manager of Corporate Communications at Gulf Bank, Lujain Al-Qenaei, said: “We are proud of our longstanding partnership with INJAZ Kuwait, as it is a partnership that is supporting future generations of youth from local high schools and universities, providing them with the skills required by today’s labor market, and paving the path of entrepreneurship.”

 

She pointed out that both local and global market requirements are changing rapidly, emphasizing the importance of Gulf Bank’s strategic partnership with the INJAZ Foundation in providing local youth with the support and expertise they will need to ensure their competitiveness in the market.

 

She also explained that Gulf Bank's volunteer team played a major role in guiding and assisting competing youth at all stages of their projects. This year, Gulf Bank’s team also provided mentorship programs and mock interviews to Kuwait University and Box Hill College students.

 

Al-Qenaei also emphasized Gulf Bank's keenness to support and develop professional work skills among local youth as part of its social responsibility program, heading various educational initiatives throughout the year that have a sustainable impact on the lives of youth and society.

 

Laila Al Mutairi, the CEO of INJAZ Kuwait, added that the faith of private sector institutions, companies and supporting bodies in these initiatives is one of the drivers behind the continuity and success of the INJAZ Kuwait Foundation. Al Mutairi noted that their partnership with Gulf Bank is an extraordinary one, as it is a strategic partnership that has extended over multiple years. Gulf Bank is considered a primary supporter of the foundation’s activities, regularly providing volunteers at INJAZ events and participating in training programs for students.

 

She added that INJAZ Kuwait has trained more than 100,000 male and female students across various training programs that aim to refine youth skills in three areas: workplace readiness, entrepreneurship, and financial literacy. Al Mutairi also noted that INJAZ Kuwait continues to look forward to providing local youth with the necessary skills and preparation needed to face any challenges the future may hold.

 

The Company Program is a distinctive program held by INJAZ Kuwait for high school and university students as part of students’ academic curriculum. The program provides students with an outlet for untapped creativity and business intelligence, and is designed to encourage students to experiment with their economic and commercial skills. Under the supervision of a volunteer mentor from the private sector, students get hands-on experience across the entire lifecycle of a startup business.

 

Gulf Bank’s vision is to be the leading Kuwaiti Bank of the Future. The Bank is constantly engaging and empowering its employees as part of an inclusive and diversified workplace in recognition of every employee’s role in delivering customer excellence and serving the community at large. With its extensive network of branches and innovative digital services, Gulf Bank is able to give its customers the choice of how and where to conduct their banking transactions, all while ensuring a simple and seamless banking experience.

 

Gulf Bank is committed to maintaining a robust sustainability program at the community, economic, and environmental levels through sustainability initiatives that are strategically selected to benefit both the country and the Bank. Gulf Bank supports Kuwait Vision 2035 “New Kuwait” and works with various parties to achieve it.