Press Release
U.S. Department of State Grants Additional $3.97 Million to the Beyster Institute at the Rady School for Middle East Entrepreneurship Program
July 25, 2006
The U.S. Department of State recently granted the Beyster Institute at the Rady School of Management, UC San Diego $3.97 million in additional funding to continue providing entrepreneurship training and support programs for 16 countries in the Middle East and North Africa (MENA) region. Funding is provided by the Middle East Partnership Initiative (MEPI), a presidential initiative that supports the aspirations of people in the region for greater freedom and opportunity through economic, political and educational reform.
The Institute’s work with MEPI has grown from an initial grant of nearly $1 million in 2004 for the Middle East Entrepreneur Training in the U.S. (MEET U.S.) program, an intensive three-week training program which combines training from university faculty and business leaders with networking opportunities, company site visits and internships. To date the Institute has already received a total of $4.5 million to continue that program and manage additional entrepreneurship projects for the MENA region.
Over 150 MENA entrepreneurs and business leaders have taken part in MEET U.S. training programs in San Diego. A MENA business women’s summit was held last year in Tunisia, attracting 200 prominent female entrepreneurs. Also through funding from MEPI, this year the Beyster Institute established the Center for Entrepreneurial Excellence in Bahrain, a regional training and networking resource.
Through the extended funding, the Institute will present additional MEET U.S. training programs in San Diego (including a program in September to encourage the use of entrepreneurship principles in the development and management of non-governmental organizations), a second MENA business women’s summit for 200 women in Abu Dhabi this fall, and several “mini-MBA” training sessions in the region designed to reach a broader audience. The Institute is also managing the establishment of a MENA business women’s network in partnership with several organizations in the region and the U.S.
“These programs have had a profound impact on everyone involved and have inspired collaboration and positive action among some of the MENA region’s most capable businesspeople,” says Ray Smilor, Executive Director of the Beyster Institute at the Rady School. “It’s an excellent business and cultural exchange that promotes reform in the broader Middle East, and I’m excited to have the opportunity to reach even more individuals through this extension. The fact that we’ve been asked to apply our entrepreneurship training approach in additional sectors such as civil society organizations shows just how effective it is.”
The Beyster Institute serves as the key center for entrepreneurial thought and activity at the Rady School and is the only such university-based center to integrate both employee ownership and entrepreneurship. More information is available at www.beysterinstitute.ucsd.edu.
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