New UAE TV reality show aims to find top entrepreneur

Entrepreneurs in the United Arab Emirates could win up to Dh2 million ($544,500)in a new reality television series launched by a telecoms operator to nurture small business.

The reality show, inspired by popular US and British shows "The Apprentice" and "Dragon's Den", will be broadcast across the Gulf Arab region later this year.

"The Entrepreneur" will see hopefuls judged by a panel of four executives on the viability of their ventures in an eight-episode series slated to air on Dubai One television over the summer.

"There are a lot of people with great ideas and they have the passion and the drive, but it always stops at the funding," said Hala Badri, vice president for brand and communications at telecoms operator du which estimates there are about 200,000 small- to medium-sized enterprises in the UAE.

"We feel this will help bring angel investors into the region, elevate the economy and make the UAE a destination for ideas."

Badri said on Tuesday that if the programme is successful, it may become an annual event. Deadline for applications is March 31 and is restricted to UAE residents who have a valid business licence.

The high cost of licences - the cheapest is $6,000 - could deter potential participants on the show.

"There's a lot of talk about the cost of licences, but anywhere else in the world, there's something similar," said on-screen judge Nisreen Shocair, president of Virgin Megastore in the Middle East. "It would be in the form of taxes or higher rents, so you will never be able to establish a business at zero cost."

Applications will be whittled down to 10 finalists who will appear on the English-language reality show. The final four will be set a series of tasks over the last four episodes to show their marketing, retail and leadership skills and the viability of their business plan.

The winner will get Dh1m and up to another Dh1m in support services over the next year, including advertising, office space, telecoms services and mentoring. Second and third place finishers will also get business support help as consolation prizes.