The Dubai Business Women Council (DBWC) and MasterCard have launched a program called Ro’Ya (meaning ‘Vision’ in Arabic).
The aim of this program is to drive entrepreneurship among women in the United Arab Emirates.
Ro’Ya is an initiative focused on providing support, guidance and mentorship to aspiring women entrepreneurs and help them establish their desired enterprises and contribute to the development of the country’s economy.
What are the Eligibility criteria?
- All female citizens and residents from the UAE are eligible to participate in this initiative.
- Entries should present business concepts that are in the conceptualization phase and have not been implemented yet, or for very small businesses that have the potential to grow into proper SMEs.
- Existing entrepreneurs who are already running an enterprise can participate by submitting plans for a new venture.
- Main leadership position of the venture must be filled by a woman.
The program is divided in 4 main phases:
- Submissions will be accepted until March 30, 2014
- Training sessions on various elements of conceptualizing and managing a business enterprise will be organized by MasterCard and DBWC.
- An updated schedule of these sessions can be found here.
- Sessions will be open for both applicants and non-applicants who are interested in starting a business.
Announcement of Shortlisted Entries:
- An expert panel made up of representatives from MasterCard and DBWC, as well as independent judges, will screen all entries and shortlist submissions for the final round.
- Shortlisted candidates will receive personalized mentorship, coaching and training from MasterCard.
They will be invited to present their ideas to the panel of judges at the gala event, during which the top three winners will be announced.
- First prize: USD 50,000
- Second prize: USD 30,000
- Third prize: USD 20,000
An additional five applicants will also receive USD 5,000 each.
The top three winners will also receive personalized coaching and guidance from MasterCard as they begin to establish their businesses.
©Picture : DBWC