Today, nine months after applications opened for the second season, venture capital company Al Tamimi Investments (ATI) announced the winner of its student entrepreneur competition The Big Start.
Stefanie Ost’s idea for a professional modelling school took top honours in the competition and she is set to receive full funding, mentoring and support to establish her business idea in partnership with ATI.
Ost’s winning business idea is a professional modelling school and agency representing top female modelling talent in the UAE. The business will also offer personal development and beauty courses designed to foster talent, beauty and style among all women.
Under the guidance of ATI, Ost has spent the last nine months shaping her initial idea into a comprehensive and viable business plan. Competing against an initial 71 other business ideas, she has progressed through a series of evaluations set by ATI, including a business plan workshop, intensive and practical feasibility studies, and one-on-one presentations. At the same time, Ost has been completing her final year at Middlesex University – she is set to graduate in November with a BA Honours degree in Media and Communication Studies.
Ost and fellow finalist, Jaimish Damani, made their final presentations to ATI Chairman Essam Al Tamimi just over a week ago and have spent the last few days anxiously awaiting his final decision.
Speaking at the winner’s ceremony today, Al Tamimi Investments’ CEO Rachael Wunsch, said, “We are delighted to announce that Stefanie Ost has won The Big Start this year. We have been very impressed with both finalists and their respective business ideas throughout the competition. In the end, our decision was based on a combination of market feasibility studies and each individual’s business acumen and personality.
“Stefanie has a great deal of experience in her chosen field. This experience and the contacts she has already established will be a tremendous advantage for the new company.”
Ost was thrilled when the final decision was revealed and she heard her name announced as The Big Start winner. “Making it into the final two of the competition was one of my proudest moments. I have worked so hard over the last nine months to put together a workable business plan for my idea. To actually become the winner is an absolute dream-come-true,” said Ost. “The team at Al Tamimi Investments has been a tremendous network of support and guidance and I cannot thank them enough for their belief in me and my idea. I am very excited to start my new business venture and I look forward to setting the bar very high for a professional modelling school and agency for UAE talent,” added Ost.
The competition increased in popularity this year with business idea submissions nearly doubling from the inaugural competition which started in 2009. ATI believes the competition has a strong future ahead.
While ATI looks ahead to the next Big Start competition, Ost will prepare to launch her dream business as she joins Rachael and the rest of the ATI team at her new office. “We recognise the valuable contribution that entrepreneurship can make to the growth of the UAE economy. We look forward to inspiring even more students to follow their entrepreneurial dreams in season three of The Big Start,” said Wunsch.
