"The National Fund" Launches its First Training Program with the Participation of 77 Trainees within a Comprehensive Strategy to Reform the Business Environment

  • Dec. 6, 2015 -

The National Fund for Small and Medium Enterprises in collaboration with "Kauffman Foundation" has launched its first special training programs that is intended to "support and build the capacity of entrepreneurs and business leaders" through "Kaufman FastTrack" program.

In this regard, The Executive Director -Technical Affairs of National Fund for SMEs, Meshari Al-Mahmoud stated: “The program is very advanced and it is dedicated to entrepreneurs. Where it includes a range of selected activities that ought to help entrepreneurs develop their project ideas further, and achieve their endeavors in establishing and managing their own companies.

Al-Mahmoud noted that prior to hosting the program the "National Fund" advocated owners of small and medium enterprises and those who are interested to register for the Arabized "Kaufman" program done by "Impact Mina" company, through the online registration form available in the Fund website.

Al-Mahmoud then specified that the National Fund program provided an opportunity for a group of entrepreneurs to present their ideas. Where the number of registered participants was amounted to 131, and then it was reduced to 77 participants with the launch of the first phase of the program. In which it introduced participants to business development methodologies and business plans for the initiators. The program was based on an international best practices in the field of entrepreneurship; using one of the world's best training programs in the world of entrepreneurship.

Al-Mahmoud demonstrated a detailed schedule that consist of several phases. Where the first week of the program included rehabilitating the participants and empowering them to work on ideas for their projects; and based on these ideas there were going to be an elimination stage for the participants. This phase also introduced participants to the definition of entrepreneurship, presented success recipes from pioneer entrepreneurs, and discussed the challenges faced by entrepreneurs in the Arab region. Along with presenting ways to develop business models for those participants.

Al-Mahmoud then elaborated that the selection panel headed by Daoud Marafi, A Board Member of the National Fund, has completed the rehabilitation phase. In which 72 ideas presented by initiators were cross-examined and discussed during 3 days.  The phase was successfully sealed with settling on 64 projects that will be launched soon. In order to participate in the second phase of the program, which will be an intensive training program for 3 weeks that will include creating a feasibility study and an establishing an action plan for these projects.

Al-Mahmoud praised the qualified candidates participating in Kauffman FastTrac New Venture program. Then he stressed that it’s a global program in which the fund has sought through it to support entrepreneurs, and develop their business concept by using a clearer perception that is ought to place the participants on the right track. The program is expected to develop the skills and abilities of the participants in corporate management field. Also, it is intended to develop an integrated action plan, which will be more refined in the next phase.

Al-Mahmoud then added that it is anticipated for the qualified candidates to improve and develop their business plans through the counseling program, in which it will bring them together with the pioneer entrepreneurs and the experts in the market. Consequently, this will help them develop their practical experience with regards to their action plan. And in the final phase the qualified candidates will be able to present their plans to the Finance Committee of the "National Fund".

Al-Mahmoud concluded with expressing his sincere gratitude for the Arab Planning Institute, for their endless support and for the provision of training halls, as well as for successfully developing and managing the entrepreneurship department at the Institute.

It is noteworthy the National Fund has launched a program titled "Exploring Entrepreneurship" that is supported and accredited by US state of Detroit. Furthermore, National Fund has announced signing memorandums of understanding with nine government agencies last August, with an intent to organize and provide effective work environment for entrepreneurs.

The National Fund for Small and Medium Enterprises in collaboration with "Kauffman Foundation" has launched its first special training programs that is intended to "support and build the capacity of entrepreneurs and business leaders" through "Kaufman FastTrack" program.

In this regard, The Executive Director -Technical Affairs of National Fund for SMEs, Meshari Al-Mahmoud stated: “The program is very advanced and it is dedicated to entrepreneurs. Where it includes a range of selected activities that ought to help entrepreneurs develop their project ideas further, and achieve their endeavors in establishing and managing their own companies.

Al-Mahmoud noted that prior to hosting the program the "National Fund" advocated owners of small and medium enterprises and those who are interested to register for the Arabized "Kaufman" program done by "Impact Mina" company, through the online registration form available in the Fund website.

Al-Mahmoud then specified that the National Fund program provided an opportunity for a group of entrepreneurs to present their ideas. Where the number of registered participants was amounted to 131, and then it was reduced to 77 participants with the launch of the first phase of the program. In which it introduced participants to business development methodologies and business plans for the initiators. The program was based on an international best practices in the field of entrepreneurship; using one of the world's best training programs in the world of entrepreneurship.

Al-Mahmoud demonstrated a detailed schedule that consist of several phases. Where the first week of the program included rehabilitating the participants and empowering them to work on ideas for their projects; and based on these ideas there were going to be an elimination stage for the participants. This phase also introduced participants to the definition of entrepreneurship, presented success recipes from pioneer entrepreneurs, and discussed the challenges faced by entrepreneurs in the Arab region. Along with presenting ways to develop business models for those participants.

Al-Mahmoud then elaborated that the selection panel headed by Daoud Marafi, A Board Member of the National Fund, has completed the rehabilitation phase. In which 72 ideas presented by initiators were cross-examined and discussed during 3 days.  The phase was successfully sealed with settling on 64 projects that will be launched soon. In order to participate in the second phase of the program, which will be an intensive training program for 3 weeks that will include creating a feasibility study and an establishing an action plan for these projects.

Al-Mahmoud praised the qualified candidates participating in Kauffman FastTrac New Venture program. Then he stressed that it’s a global program in which the fund has sought through it to support entrepreneurs, and develop their business concept by using a clearer perception that is ought to place the participants on the right track. The program is expected to develop the skills and abilities of the participants in corporate management field. Also, it is intended to develop an integrated action plan, which will be more refined in the next phase.

Al-Mahmoud then added that it is anticipated for the qualified candidates to improve and develop their business plans through the counseling program, in which it will bring them together with the pioneer entrepreneurs and the experts in the market. Consequently, this will help them develop their practical experience with regards to their action plan. And in the final phase the qualified candidates will be able to present their plans to the Finance Committee of the "National Fund".

Al-Mahmoud concluded with expressing his sincere gratitude for the Arab Planning Institute, for their endless support and for the provision of training halls, as well as for successfully developing and managing the entrepreneurship department at the Institute.

It is noteworthy the National Fund has launched a program titled "Exploring Entrepreneurship" that is supported and accredited by US state of Detroit. Furthermore, National Fund has announced signing memorandums of understanding with nine government agencies last August, with an intent to organize and provide effective work environment for entrepreneurs.