A closing press conference was held on June 22, 2012, at Bank Audi Plaza, Bab Idriss, to announce the top three winners of the second edition of the “Grow My Business” (GMB) competition, an initiative launched in February 2011 by the Beirut Traders Association (BTA), in collaboration with the MIT Enterprise Forum – Pan Arab Region and in partnership with Bank Audi sal - Audi Saradar Group.
The competition consisted in having a selection of Lebanese companies develop plans for their businesses to grow and submitting these to a jury composed of prominent figures of the BTA, of the MIT Enterprise Forum – Pan Arab Region, and of Bank Audi. The top 30 candidates underwent a workshop organised by experts in the field and university professors and focusing on how to develop a successful business plan. All 30 business plans were then submitted to a qualified jury who chose the 9 best candidates and assessed them through final oral presentations.
In light of these sessions, the jury ultimately voted for the top three winning companies of this year’s GMB competition, namely ADTech, Olive Trade: House of Zejd, and Wixel Studios who won respectively LBP 50,000,000, LBP 20,000,000 and LBP 10,000,000 prizes courtesy of Bank Audi.
Mr. Nicolas Chammas, Chairman of the Beirut Traders Association, seized the opportunity to highlight that “the purpose of this competition is to give a tangible added value to small and medium-sized companies, to uplift the professional standards of the commercial sector as a whole, and to contribute to the sustainable development of the national economy.” He also noted that, “following last year’s successful first edition, this year’s decision to have 3 prizes was a further reflection of the very high quality of business plans received, and of the high merits of the two runner-up companies.” Chammas also pointed out that, like last year, applications were submitted by companies coming from a wide array of sectors, from IT to Design, Food, Construction, Consulting, Education, Tourism, and many others.
Mrs. Hala Fadel, Chair of the MIT Enterprise Forum – Pan Arab Region, added: “It gives us great pleasure to have contributed for the second year in running the “Grow My Business” competition and to have put in our expertise by providing top-tier training and coaching for 100 entrepreneurs. The MIT Enterprise Forum is committed to supporting the growth of businesses in Lebanon and SMEs know they can count on us.” Fadel also commended the three winning companies, saying: “Their ideas are excellent and they are extremely passionate about them. I am confident they will achieve great things one year down the road.”
As for H.E. Mr. Raymond Audi, Chairman - General Manager of Bank Audi sal - Audi Saradar Group, he underlined that “the Bank’s involvement in such commendable initiatives is one more indicator of its dedication to accompany Lebanese SMEs in their development journey, an accomplishment that perfectly embodies the Bank’s motto – Grow Beyond Your Potential – and makes it an ever more authentic pledge today.”