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jufaili
03-04-2011, 07:35 AM
In line with Intilaaqah’s efforts to develop more profitable Small and Medium Enterprises (SME’s) in Oman and as a means to achieve one of its objectives, the “Engineering to Entrepreneurship” initiative was launched last month, a joint effort of Intilaaqah and the Society of Engineering Students at Sultan Qaboos University (SQU).

24 students from College of Engineering at SQU, Caledonian College of Engineering, German University of Technology in Oman and Higher Technical College in Muscat, participated in the initiative which consisted of sessions conducted online using a dedicated page on the online social network “face book’.

The online sessions concentrated on introducing the concept of entrepreneurship, making students more aware of the challenges facing entrepreneurs, and introducing the elements of a business plan. That was followed by a face-to-face workshop delivered by Intilaaqah which illustrated the importance of understanding the business sales forecast and cash flow.

Commenting on this initiative, William R. Crew, General Manager, Intilaaqah said “We are delighted to see students taking the lead to organize such initiatives. It stems from their interest to learn more about entrepreneurship. The workshop we delivered concentrated on sales forecasting to enable the students to understand the nature of projections and the nature of cash flow. We were very impressed to see a high level of interaction amongst the students.”

Said Al Touqi, one of the students commented “We were so excited to have the opportunity to participate in this workshop. The information shared was insightful and valuable. A business owner needs to keep in mind that no matter how a successful a business may be there are always external and internal factors that could lead it to fail.”

For reference, Intilaaqah is a US $17million fund managed by GroFin and is one of Shell social investment initiatives aimed at encouraging the development of Small and Medium Enterprises in the Sultanate of Oman. It provides funding, guidance and business development services to existing and potential entrepreneurs.