Press release

PwC holds the PIN² Challenge Awards Ceremony

Running for the second consecutive year

Kuwait, April 28, 2014: Today PwC, the world’s leading professional services firm, held an awards ceremony to announce the winners of the second season of the PIN2 Challenge. The PIN² Challenge is a business plan competition led by PwC for high schools in Kuwait, which began in November 2013 and included 20 participating teams of around 100 students from the American International School, Al Bayan Bilingual School, New English School, Kuwait English School, and Universal American School.

The teams from each of the schools spent five months developing their business ideas and refining their business plans with support from their mentors that were provided to them as part of the program. Their ideas mainly focused on developing sustainability in Kuwait, either by developing the economy, or by raising environmental awareness, or even by working on a healthier society.

On March 26, eight teams presented their business ideas to a panel of judges made up of Senior Executives from the sponsoring companies, in a moment of excitement, the winners of the top three positions were announced as follows:

  1. The first place team was: Moasis; they created a simple and effective idea on how to tackle the issue of excess rubber tires in the junkyard fields of Kuwait through creating new and useful products from recycled rubber tires. Student Names:
    Mashiat Uddin
    Omar Ali Abdulla
    Ahmad El Yaacoub
    Shaurya Malhotra
    Imogen Reid
    Shatha Ali
  2. The second place team was: Dynamic Enterprise; they created a battery which is installed in homes that runs on solar energy, the product is highly effective and suitable for both Kuwait and the GCC region. Student Names:
    Jay Mirchandani
    Saveen Kaur Chadha
    Hannah Mathew
    Heui Sung Kim
    Diksha Radhakrishnan
    Dana Arab
  3. The third place team was: Extronics ; they created an effective way to recycle electrical user devices, such as mobile phones and tablets, efficiently while both saving the environment and profiting through the use of selling the electrical components of these devices. Student names:
    Lama Mosallem
    Sara Esnawy
    Ahmed Al Naggar
    Rami Wael
    Mohamed Mansour

During the panel, the judges were impressed by the strength, well-developed. great ideas and business plans that teams presented. “The creativity of the students’ and the innovative ways they tackled the main challenges of sustainability, governance, technology and design that were part of the competition’s requirements was very impressive “commented the judges. 

On this occasion Fouad Douglas, Country Senior Partner of PwC Kuwait office and the Chair Judge of the competition said, “The students demonstrated a strong entrepreneurial mindset and tackled key business issues analytically and creatively. It was impressive to see that most teams tackled the issue of sustainability directly and had a strong understanding of the main business challenges of today and tomorrows world.”

Adding “ We at PwC, encourage our own talent to grow, develop and lead their own projects; whether it’s when catering to clients or when seeing through a corporate social responsibility initiative like this one. Through this initiative we hope to continue building future leaders with an entrepreneurial spirit to excel in their professional lives”. 

The second year of the PIN² Challenge provided students with an unforgettable and valuable experience through the development of their analytical and problem-solving skills, communication and team spirit. Students worked in diverse teams, incorporating challenges relevant to the prevailing social, economic, and technological environment, which allowed them to develop and grow. The students also developed strong relationships with their mentors that will continue even after the competition has ended. These relationships helped give the students new perspectives on how to tackle business issues, in addition to giving them insights on potential future aspirations leading up to their careers. This will continue to be an integral part of the PIN2 Challenge as it expands its reach in Kuwait and the Middle East region.

The PIN2 Challenge is driven by PwC and sponsored by Zain, National Bank of Kuwait, Ali Abdulwahab Al Mutawa Commercial Co. (AAW), Wharton Club of the Middle East, Marriot Kuwait, and 4 Films Printing Group Company.

Shafeeq Al Sayed Omar, Zain’s Chief Strategy Officer, stated “Zain is dedicated to empowering the entrepreneurial and professional skills of youth in Kuwait. The company has maintained its support of numerous initiatives that add to the investment in student and educational activities in Kuwait. Zain’s enthusiasm to promote a more prosperous Kuwaiti youth arises from its long-lasting Corporate Social Responsibility and Sustainability Programs to being a responsible and leading telecommunication company. We tirelessly strive to provide an enabling environment to improve the outlook of youth in our community, and by partnering with PwC Kuwait, Zain is confident in building a prosperous future for the upcoming generations of Kuwait.

Emad Al Ablani, NBK Deputy General Manager, Human Resources Group, said “NBK is dedicated towards supporting talented young people and empowering them towards achieving their goals. NBK’s sponsorship to the PIN² Challenge for the second consecutive year comes as part of our continuous efforts to develop and support young talents. NBK is elated with the outcome of the program and looks forward to seeing the participants moving into key leadership roles in the near future.”

AAW General Manager, Ali F. Al-Mutawa said: “AAW has a long-standing commitment in championing innovation, and an active role in guiding students and young entrepreneurs towards success in their desired career paths. We believe the PIN2 Challenge provides an opportunity for students to apply their ideas and skills in a healthy and competitive environment to gain an abundance of experience. We hope the private sector continues to support programs like these, in order to provide a positive impact on Kuwait’s development.”   

About PwC

PwC helps organisations and individuals create the value they’re looking for. We’re a network of firms in 157 countries with more than 184,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.comEstablished in the Middle East for 40 years, PwC has firms in Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Oman, the Palestinian territories, Qatar, Saudi Arabia and the United Arab Emirates, with around 2,700 people. For more information please visit www.pwc.com/me

About Zain

Zain is a leading telecommunications operator across the Middle East and Africa providing mobile voice and data services to over 46.2 million active customers as of 31 March, 2014. With a commercial presence in 8 countries, Zain operates in: Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia, Sudan and South Sudan. In Lebanon, the Group manages ‘touch’ on behalf of the government. In Morocco, Zain has a 15.5% stake in ‘INWI’, through a joint venture. Zain is listed on the Kuwait Stock Exchange (stock ticker: ZAIN).

For more, please email info@zain.com or visit:
www.zain.com
www.facebook.com/zain
www.twitter.com/zain
www.youtube.com/zain

About National Bank of Kuwait (NBK):

NBK was founded in 1952 as the first indigenous bank and the first joint stock company in Kuwait and the Gulf Region. NBK reported profits of USD 844 million (KD 238.1 million) for 2013. NBK's total assets were USD 66 billion (KD 18.6 billion) at the end of 2013, while shareholder equity stood at USD 8.4 billion (KD 2.4 billion).

NBK is the largest financial institution in Kuwait with effective market dominance in the commercial banking market and has been consistently awarded the highest credit rating of all banks in the region from Moody's, Standard & Poor's, and Fitch Ratings. NBK also stands out in terms of its local and international network, which includes branches, subsidiaries and representative offices in China, Geneva, London, Paris, New York, and Singapore alongside its regional presence in Lebanon, Jordan, Egypt, Bahrain, Qatar, Saudi Arabia, Iraq, Turkey, and the UAE.
NBK’s Long-Term Rating:
• Moody’s Aa3
• Fitch Ratings AA-
• Standard & Poor’s A+

About Ali Abdulwahab Al Mutawa Commercial Co. (AAW):

Ali Abdulwahab Al Mutawa Commercial Co. (AAW) is one of the largest trading and commercial companies in Kuwait, operating in seven diverse business sectors and distributes in Kuwait’s surging wholesale, retail and consumer market over 100 different global brands, including world-class brands such as Procter and Gamble, Clorox, Roche, Takeda, Biotronik, Nuxe, Bioderma, Nolte Group, La Cornue, Bosch, Siemens, The North Face, Coleman, Nike, The Athlete’s Foot, Crocs, Puma, Shoebox New York, among many others.

AAW’s continuously growing business lines include Consumer Goods, Furniture, Kitchens, Home Appliances, Outdoor Gear and Equipment, Sports and Fashion, Real Estate, and Pharmaceuticals where it is a leading wholesale and retail distributor of pharmaceutical and medical products. It also holds a renowned portfolio of principals like Pfizer and Novo Nordisk distributed through its subsidiary Safwan Trading and Contracting (Safwan). Safwan is listed on the Kuwait Stock Exchange.

For more information, please visit: www.aaw.com

About Wharton Club of the Middle East

The Wharton Club of the Middle East is the association that represents the alumni of the Wharton School in the Middle East. The Wharton School of the University of Pennsylvania, founded in 1881, is globally recognized as the world’s leading business school for its academic rigor, intellectual leadership, and ongoing innovation  across every major discipline in business education. Wharton bridges research and practice through its broad engagement with the global business community, and is proud to have a network of more than 82,000 graduates across every continent.

The Club is composed of the alumni of the Wharton School who reside or are connected to the Middle East. The members of the Wharton Club of the Middle East are committed to strengthening the ties between the school and the region, and engaging youth through value-added initiatives. For more information, please visit either: www.wharton.upenn.edu or www.whartonme.com.

About Four Films Printing Group Co.

FourFilms Printing Group Co. is an international printing group and an industry leader in Kuwait and the region. FourFilms Printing Group Co. operates in the MENA region and Europe.
FourFilms Printing Group Co. uses cutting-edge technology to provide customized printing solutions to private individuals, small businesses, large corporations and government sectors. FourFilms Printing Group Co. offers offset printing and several services for leather boxes, wedding cards, wide format printing, and exhibition event management.
For more information please call 24820150 or visit www.fourfilms.com.

About Marriot Kuwait

Marriott International, Inc. (NASDAQ: MAR) is a leading lodging company based in Bethesda, Maryland, USA, with more than 3,800 properties in 72 countries and territories and reported revenues of nearly $12 billion in fiscal year 2012.  The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.