RIYADH, 9 January 2006 — The Arab Science & Technology Foundation (ASTF), a UAE-based independent, non-governmental and non-profit organization is launching its First Arab Technology Business Competition to promote the development of science, technology and entrepreneurship in the Arab world. This first pan-Arab contest invites the region’s aspiring young technopreneurs to submit plans for high potential start-up business projects in the sectors of information technology, communications, life sciences, engineering, nanotechnology, biotechnology, pharmaceuticals, energy applications and related technology fields. The competition is being held in collaboration with Abdul Latif Jameel Company Ltd. and Islamic Development Bank.