Wharton and HCT Host First Innovation Tournament in the Middle East

A group of 12 semi-finalists from around the Middle East and Asia competed in the region’s first innovation tournament, hosted by the University of Pennsylvania’s Wharton School and the United Arab Emirates’ Higher Colleges of Technology in Abu Dhabi. With a focus on sustainable concepts that can be implemented globally, the competing ideas ranged from new building technologies to water-saving systems. Over two days in May, the group vied to win the top prize from a total of US$30,000, but they also compared observations about the challenges facing regional innovators.

Read about the competition here: 
http://bit.ly/JErHFO

Arabic Knowledge@Wharton And Wamda Announce Content Partnership

Announcing a partnership that will reach thousands of readers in the Middle East and North Africa, Wamda and Arabic Knowledge@Wharton, the online journal of The Wharton School, will freely offer tailored content to entrepreneurs directly from the world’s leading business school.

Readers will be able to access a knowledge base that includes interviews with Wharton faculty and exclusive conversations with industry leaders. Anyone seeking guidance on the MENA region will benefit from featured analyses of regional trends, success stories, and articles on best practices.

Additionally, Wamda, the platform that empowers entrepreneurs through investment, content and programs, and Arabic Knowledge@Wharton will jointly author reports for their specialized audience, which counts senior executives and leaders from government, academia and the media. Collectively, Wamda and Arabic Knowledge@Wharton reach over 150,000 people monthly in the region, offering content both in English and Arabic.

“The Middle East is fast developing into a hub for the emerging global economy,” said Bulent Gultekin, associate professor of finance at the Wharton School, and Academic Director of the Wharton Center@CERT, Abu Dhabi. “Wharton is very interested in understanding the region’s growth and its future economic roles.”

To further support entrepreneurs, Wamda and Arabic Knowledge@Wharton will jointly host online interactive sessions with Wharton faculty and experts and Arabic Knowledge@Wharton will provide Wamda members with more access to seasoned advice at select events.

“This partnership is a natural extension of Wamda and Wharton’s shared belief in leveraging the web to inspire and empower entrepreneurs throughout the MENA region,” said Habib Haddad, CEO of Wamda.

The partnership with Wamda extends Wharton’s presence in the Middle East. The business school entered into an agreement with the Higher Colleges of Technology and the Center of Excellence for Applied Research & Training (CERT) in the United Arab Emirates, opening the Wharton Center@CERT, Abu Dhabi in 2010.

The center acts as a hub for the MENA Region where the Wharton School conducts research, hosts seminars and events for UAE-based and regional business and management executives, and publishes Arabic Knowledge@Wharton.

“The readership of Arabic Knowledge@Wharton is spread across the globe,” said Pankaj Paul, managing editor of Arabic Knowledge@Wharton and general manager of the Wharton Center@CERT, Abu Dhabi. “It demonstrates the great interest people have in understanding the role the Middle East plays in the global economy. Our partnership with Wamda will allow us to reach an even broader audience and to better cover the topics and issues that matter to them.”

Fadi Ghandour: Political and Internet Revolutions Intersect in Arab World

Fadi Ghandour

Fadi Ghandour, founder of global logistics and transportation company Aramex and one of the Middle East’s best-known entrepreneurs, tells Arabic Knowledge@Wharton that the sense of empowerment fueling unrest by Arab youth is also a force to be harnessed for entrepreneurship, and will create a future for the region’s thousands of unemployed. Ghandour says he even sees parallels between the protestors and the region’s burgeoning high-tech entrepreneur class, noting how the political and Internet revolutions are intersecting.

Read the story here: 
http://bit.ly/fuENS4

Social Media Entrepreneurs and the ‘Facebook’ Effect

The founders of social media company TwitVid tell Arabic Knowledge@Wharton they don’t know whether their company will become another Facebook-like sensation. But as they make their pitches to interested investors, Mohammed Al Adham and Adil Lalani are clearly following the path taken by most successful high-tech entrepreneurs. That path is one that forces them to supplement their deep technical know-how with self-taught business acumen – a strategy that is necessary if they want to survive in a competitive arena where a good idea is just one factor for success.

Read the story here: 
http://bit.ly/eJK1lT

Cleveland Clinic CEO Details Abu Dhabi Plans

Delos M. Cosgrove

Cleveland Clinic, the world-renowned US$4.6 billion healthcare provider, has made its first overseas foray into the United Arab Emirates, where it operates Sheikh Khalifa Medical City, a network of healthcare facilities in Abu Dhabi. The clinic plans to develop and manage a 360-bed hospital in the capital. In an interview with Arabic Knowledge@Wharton at the Global Competitiveness Forum in Riyadh, Saudi Arabia, Cleveland Clinic president and CEO Delos M. ‘Toby’ Cosgrove talks about the hopes and challenges of the endeavor.

Read the article here: 
http://bit.ly/h19svH

In Riyadh, capital investors debate economic unrest

A panel of corporate leaders met at the annual Global Competitiveness Forum in Riyadh, Saudi Arabia, to discuss the recovery of capital markets in the Middle East and North Africa (MENA) region. But they found themselves debating the questions before foreign investors in the wake of civil unrest in Tunisia that threatened to spread elsewhere: What role can capital investment play in addressing the economic tensions behind the unrest, and what solutions exist for the Arab world’s unemployed?

Read the story here: 
http://bit.ly/fAFHJZ

Two Wharton grads (and friends) make millions, separately

Perhaps it’s a coincidence. Or maybe it’s the secret recipe. Either way, two young entrepreneurs who followed the same path three years ago each sold their start-ups recently for more than $70 million. The road to riches started when pals Jack Abraham and Nat Turner, two students at the University of Pennsylvania’s Wharton School of business, each received the Wharton Venture Award, which provides $10,000 for student entrepreneurs to work on a start-up in lieu of full-time summer internships.

Read the article: 
http://on.wsj.com/fu3diy

Maria Mahdaly: Succeeding as a Female Entrepreneur in Saudi Arabia

Maria Mahdaly

With nearly 40% of Saudi Arabia’s population under the age of 14, analysts have long warned that the country’s biggest challenge lies in opening up new career paths for its younger generations. Spotting an opportunity, 22-year-old Maria Mahdaly and a group of fellow Saudi Arabian women launched Rumman Company in 2007, which along with running a social media website and an events magazine, fosters young entrepreneurs. In a recent interview with Arabic Knowledge@Wharton, Mahdaly shared her insight about the challenges female entrepreneurs have overcome in Saudi Arabia, the successes and missteps she has learned from while running a business, and the importance of being a role model for other young entrepreneurs.

Read the article: 
http://bit.ly/gzIMof