Kuwait: Zain, Kuwait’s leading digital service provider, announces that its innovative tech startup accelerator, Zain Great Idea, has been recognized with the E-Business Award from the prestigious Entrepreneur Middle East magazine. Zain’s program was awarded ‘Ecosystem Enabler of the Year’ during a recent awards ceremony in Dubai acknowledging the company’s ever-growing endeavors in accelerating the regional tech startups ecosystem and empowering entrepreneurs in Kuwait and the region.
Entrepreneur Middle East hosted its annual E-Business awards to celebrate and recognize the region’s top digital initiatives, startups, SMEs, incubators, and accelerators from across the MENA region.
The ‘Ecosystem Enabler of the Year’ award highlights Zain Great Idea’s success as one of the most successful projects under Zain’s Innovation and Entrepreneurship strategy. The program, which started over 10 years ago, has empowered, trained, and invested in over 1,500 passionate Kuwaiti and Arab young people.
Investments in ZGI startups have reached nearly KWD 30 million (USD 100m) to this date. 30% of ZGI alumni now own thriving and active businesses to this day across local and regional markets, and 40% of these businesses have raised capital.
Last year, Zain inaugurated Zain Great Idea 7, the all-new season of its renowned tech startup accelerator program in collaboration with Brilliant Lab. To this day, the program continues its mission to enrich the tech startups ecosystem in Kuwait and further pushes it forward towards expansion into the MENA region.
During the previous edition, Zain turned an exceptional chapter in the history of the program. The sixth edition was the first of its kind, coming in an entirely virtual fashion during the pandemic. With the dedication of Zain’s entrepreneurs, and in spite of many challenges, ZGI 6 alone yielded over USD 4.5 million of investments in the participating startups, helping them kick-off operations in the market.
ZGI 6 also featured over 170 startups, 25 of which reached the final phase with full acceleration. In addition, the program saw the highest number of female entrepreneurs in the history of the program, making 40% of the total number of participants.
Such continuous achievements reflect ZGI’s value in driving the Zain’s vision to empower tech startups in Kuwait, a small market in its size but a great one in its ambitious youth. As the program enters its second decade, Zain embarks on a new adventure with ZGI 7, which continues its core mission of accelerating tech startups and empowering young entrepreneurs from Kuwait and the Arab world.
ZGI seeks to take entrepreneurs towards the best experiences that bring them sustainable growth, not only to help grow their businesses, but grow themselves as well. Zain always strives to leverage on its partners ecosystem to connect its entrepreneurs with venture capital firms and business partners to help them put a steady first step in the business world.
ZGI 7 focuses on regional expansion through unique programs held throughout the MENA region, including Riyadh, Dubai, and Cairo. These programs cover crucial topics like establishing and accelerating startups, communicating with investors and funds, building teams and brands, one-on-one consultancy sessions, enriching innovation, challenges facing entrepreneurs in today’s markets, local and regional success stories, and much more.
Zain strongly believes in the crucial role played by private sector organizations in supporting social and economic sustainability projects. The company is committed to printing a positive impact through all its activities, and this has led it to embrace the most influential topics in the community, perhaps most importantly the support of youth, entrepreneurship, and innovation, not only in Kuwait, but across the entire region.
ZGI offers a refreshed opportunity for local talents and the region’s entrepreneurial community. Throughout seven successful editions, the program has empowered, trained, and invested in hundreds of creative and driven Kuwaiti and Arab youth, of which many now own thriving and active SMEs to this day in local and regional markets.