Five Women Entrepreneurs Receive International Award

PARIS--(BUSINESS WIRE)--Five women entrepreneurs received the 2^nd Annual Cartier Women’s Initiative Awards during a ceremony held at the occasion of the Women’s Forum for the Economy and Society in Deauville, France. After two rounds of competition, these laureates were selected by an international jury of entrepreneurs and members of the business community for the creativity, sustainability and social impact of their start-up projects.

“More than ever, our economies need the spirit of enterprise, the taste for challenge. Small businesses play a key role in building the global economy. We believe that these brave and spirited laureates will be drivers of change for their communities and the future of their countries”

From an applicant pool of 400, one winner from each region (Africa, Asia, Europe, Latin America, North America) received a Cartier trophy, a US$20,000 cash award, and will benefit from a full year of coaching from Cartier, McKinsey & Co., and INSEAD Business School.

“If as many women were to be engaged in start-up businesses as men, we would see thousands of jobs and opportunities open up across all markets and on all continents,” said Aude de Thuin, Founder and President of the Women’s Forum for the Economy and Society.

“More than ever, our economies need the spirit of enterprise, the taste for challenge. Small businesses play a key role in building the global economy. We believe that these brave and spirited laureates will be drivers of change for their communities and the future of their countries,” added Bernard Fornas, President and CEO of Cartier.

Laureate for Africa: Mame Khary Diene, Founder of Karistal (Senegal), a local laboratory promoting the finest African cosmetics and essential oils. Karistal uses natural products with high saturated active ingredients.

Laureate for Asia: Renee King and Caroline Cua, co-Founders of Tamang Timpla Foods (Philippines), a food manufacturing startup that promotes naturally pure and healthy Filipino foods. Tamang Timpla’s star product is the Calamansi Squeeze, a pure and convenient, ready-squeezed, un-sweetened calamansi concentrate with a shelf life of six months.

Laureate for Europe: Laura Chicurel, Founder of Chicurela (United Kingdom), a producer and distributor of ecofriendly salmon skin leather. Chicurela has introduced a novel approach to addressing the problem of waste fish skins, by turning them into luxury leather goods.

Laureate for Latin America: Dr. Cynthia Guy, Founder of the Institute of Cochlear Implant (Panama), the only provider of cochlear implants for people with severe and profound hearing loss. So far, IICSA has successfully carried out three cochlear implant operations, and plans to perform 18 more in 2008.

Laureate for North America: Mona Jhaveri, Founder of Foligo Therapeutics Inc (USA), a biotech company aiming to improve the detection and treatment of ovarian cancer. Her company, Foligo Therapeutics, Inc., is developing early diagnostic techniques and DNA-based therapeutics that aim to destroy cancerous cells and reduce suffering.

Applications for next year’s Cartier Women’s Initiative Award open on October 18, 2008 and end on February 13, 2009. Find out more on www.cartierwomensinitiative.com.

About the Award

Created in 2006 by Cartier and the Women’s Forum for the Economy and Society in partnership with McKinsey & Company and INSEAD management school, the Cartier Women’s Initiative Awards are an annual international entrepreneurship competition for women. Five laureates are awarded each year and receive US$20,000, coaching support for a full year and an exclusive Trophy designed by Cartier.

The Partners

The Women’s Forum for the Economy and Society

Created by Aude Zieseniss de Thuin in 2005, the Women’s Forum for the Economy and Society is an independent and non-partisan platform for dialogue. An annual landmark event, it aims at promoting women’s perspectives on major issues today.

www.womens-forum.com

Cartier

Cartier is one of the world's most esteemed luxury brands, designing and manufacturing exclusive collections of fine jewellery, wristwatches, leather goods, fragrances, pens, eyewear and scarves through almost 250 Cartier boutiques.

www.cartier.com

McKinsey & Company

McKinsey & Company is a management consulting firm that, for more than 75 years, has been helping its clients achieve distinctive, substantial, and lasting improvements in their performance. Its clients include more than half of the world’s top 200 companies.

www.mckinsey.com

INSEAD

As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas from around the world to change lives and transform organizations. The unique global perspective and multicultural diversity of INSEAD are reflected in all aspects of its research and teaching.