THE LEVANT WINNERS OF THE ARABIA FAST GROWTH 500: Jordan leading as a hub for entrepreneurs

Istanbul, Turkey, 2 December 2011…AllWorld Network today announced the Levant winners from Jordan, Lebanon, Syria and Palestine of the Arabia500+Turkey. The Arabia500 is a ranking of the fastest growing young companies in the Middle East and North Africa (MENA) region, Turkey and Pakistan.   In the Levant, Jordan took first place with 27 fast growth company winners, followed by Lebanon with 14 winners, Palestine with two winners, and one winner from Syria.  Overall, Jordan was fourth on the Arabia500, competing against the much larger economies of Turkey, Pakistan, UAE and Saudi Arabia.

Click here to read the full information on the Levant Arabia500 winners.

The Levant winners exemplify a new breed of dynamic and resilient young companies who have overcome the odds, showing the world the growth potential, creativity, and marketability of the region as it establishes its new regional and global footing. These companies are solving the region’s greatest problems - growth, job creation and economic diversification - in new and innovative ways.

AllWorld was co-founded by Harvard Business School Professor Michael E. Porter, Deirdre M. Coyle, Jr., and Anne Habiby to bring visibility to growing companies in emerging markets to increase their odds of success. Any private, non-listed, company with rapid sales growth and an ability to demonstrate results with audited financial statements was invited to apply to the Arabia500.

Each entrepreneur on the Arabia500 ranking has grown an average of 40 percent annually between 2008 and 2010, created an average of 200 jobs per company, and they are succeeding in industries from web technology to food, and construction to consulting.  An average of only 42 years old, nearly all of the entrepreneurs plan to establish another company in the next two years. 

From the Levant, Jordan took the top four places with Millennium Energy Industries growing at 702 percent between the period 2008 and 2010,  JValley Software Solutions with growth of 637 percent, INISIGHT Business Solutions with growth of 364%, and Jeeran with growth of 284%.  The next two winners were from Lebanon, Semsom Restaurant with growth of 218% and Lebanese Credit Insurer growing at 201% percent.  Lebanon had the highest percentage of women on an Arabia500 country ranking with Semsom Restaurant taking first place and Firehorse taking third place.  Profiles of the winning companies are available on the link below.

“The Arabia500 companies, led by dynamic men and women, represent the leading edge of a new approach to competitiveness,” said AllWorld co-founder Harvard Business School Professor Michael Porter.  Joining AllWorld to create the Arabia500 were TEPAV and TOBB (the Federation of Turkish Chambers), private equity giant Arcapita, and the consulting firm Monitor Group.  Many partners in the Levant reached out to companies to invite them to apply, and BDC of Jordan took the lead in reaching out to companies throughout Jordan.

The Levant winners are in Istanbul for the 2^nd Global Summit on Entrepreneurship, December 3-5.  They will meet with Arabia500 winners from 11 other countries and will be recognized by Turkish Prime Minister Erdogan and US Vice President Biden. During the summit companies can take advantage of three days of networking with AllWorld’s Capital Partners Arcapita, RED/Abraaj, Eastgate Group, NCB Capital, and Cyan Limited.

Given the challenging circumstances in Palestine and Syria, Souktel and MENA Geothermal of Palestine and Tamkine Consulting of Syria deserve special recognition. These companies have overcome ongoing political unrest and oppression to create not only sustainable and successful companies, but a better future for the countries in which they live.

AllWorld is releasing a series of market insight reports on the Arabia500 to share their successes and make their stories visible.  Last week, AllWorld released Now, calling for a bold new economic agenda centered around the Arabia 500.  To learn about winners, please visit www.allworldlive.com.

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