The Mohammed Bin Rashid Establishment for Young Business Leaders launched the “Mohammed Bin Rashid Awards for Young Business Leaders” in 2003 for rewarding exceptional entrepreneurs within the local community of the U.A.E. This distinguished awards program is the first ever in the United Arab Emirates aimed at creating a competitive environment amongst the young entrepreneurs of the UAE and the Arab countries. The program also recognizes those individuals and organizations who have aided in the development of the entrepreneurs in the UAE.