MBA students from the MIT Sloan
School of Management are evaluating opportunities for
technology-based entrepreneurial activity and e-business
startups in the Middle East. The students are currently visiting
government officials, local business leaders and technology
entrepreneurs in Lebanon, Jordan and Egypt to study the
economies and opportunities in the region.
In Lebanon, the 38 students met with Prime Minister Selim El
Hoss and Economy and Industry Minister Nasser Saidi to discuss
the country’s efforts to attract new industries. Their
three-day visit was hosted by the MIT Club of Lebanon and
included discussions with business leaders.
Today, students met with King Abdullah II bin Hussein of
Jordan, to discuss Jordan’s technology and IT policies and
strategies for using the country’s highly educated workforce
in the New Economy. The King stressed the importance of
Information Technology and cooperation within the Middle East
countries to compete on a global level.
"We knew we could not drive the peace process if we were
weak economically…, ", said King Abdullah II. "[So,
we created a 20-person council to figure out the best approaches
to take. Sixteen of the twenty are from the private
sector.]"
"It all starts with education. We will teach English to
everyone starting in First Grade and computer skills starting in
Second Grade."
"I want to break down the barriers between the public
and private sectors."
"We have the human resources…we graduate more computer
science than Ireland, for example."
"I am an impatient person. We really have to move things
along. I have asked the parliament to pass more laws."
"At Davos, one of the scariest things for me is how fast
things are moving…those countries that don’t figure it out,
and fall behind, will never catch up later."
"We need MIT to train our people and give them what they
need to help our effort to build our new economy. You are all
invited to join us."
"We will welcome your conference and delegation of MBAs
here next March. I hope you will all come back and see the
changes we have made. The year 2001 will be the year of
Jordan."
Exciting new companies in Jordan hosting the highly engaged
and inquisitive students include fast-growing ARAMEX,
Arabia.On.Line, Global One, and a recent MIT spin off firm
called One World Software.
"We want to understand in a fundamental way the forces
that are shaping the future of these emerging economies,"
says Hala Fadel, trip organizer and Sloan MBA Class of 2001.
"We want to meet the people that are forging the policies
which will create improved climates for innovation."
In Egypt, discussion with technology entrepreneurs, local
industry and bank executives will provide opportunities to
understand the development of capital markets and the
information technology missions first expressed in February at
the MIT Alumnae Association event in Egypt, entitled
"Creating Knowledge-Based Industries in the Region for the
Next Millennium." The event focused on how select market
segments in Egypt, Jordan and Lebanon could achieve sustainable
competitive advantage in the decades ahead.
"Our students are digging below the surface to
understand the key forces and change agents driving these
economies." says Ken Morse, MIT Sloan Senior Lecturer and
Managing Director of the MIT Entrepreneurship Center. "They
want to speak directly with the leaders to understand the
opportunities, and build long lasting relationships so they will
have an edge in the future when they undertake business in the
region."
Sloan international study tours take place every spring
break. Small groups of MBA students set out with faculty
advisors to get a sense of the challenges facing businesses and
industries in countries with a range of entrepreneurial and
business environments.
For nearly a half-century, the MIT Sloan School of
Management, based in Cambridge, MA, has been one of the world's
leading academic sources of innovation in management theory and
practice. With students from more than 60 countries, it develops
effective, innovative, and principled leaders who advance the
global economy.
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