Inspirational Women Profiles: Penelope Shihab
Nisaa FM: - Can you make money out of science?
If you doubt this, ask Penelope Shihab, the Palestinian Bethlehem-born scientist who launched the only biotech company of its kind in the Middle East. Biotechnology is a growing market, in a world where many are seeking alternatives to standard treatments. Shihab’s secret sauce is camel milk
Studies of the healthy skin of the local Bedouins
Shibab started her Jordan-based biotech firm Monojo in 2005. The company specialises in creating cosmeceuticals (the term for a cosmetic that has or claims to have medicinal properties). Today, Shihab sells in 10 countries across the world, including the US, Canada and Australia. The scientist turned businesswoman has her eyes set on Latin America and for further expansion in the US.
Shihab left Palestine to continue her education in Jordan, where she worked as a manager for one of the region’s biggest pharmaceutical companies for eight years.
“Jordan is a hub for pharmaceuticals in the region. The companies copy international formulas and manufacture and sell them at cheaper prices, while still maintaining good quality,” she tells. “But I wanted to change that. I wanted to be the originator.”
In Shihab’s opinion, new technologies made it possible to start thinking about biotech rather than chemical entities. Plus she’s observed that consumer trends were moving towards biotech and personalised medicine.
She studied the skin condition of local Bedouins living in Jordan. Despite living in harsh desert weather, they had clear and healthy skin. Moreover, they seemed not to be as badly affected by modern-day diseases such as diabetes or cancer.
Shihab thought that camel milk could be one of the reasons for their resilience. So using camel milk, she invented a technology that produces antibodies against specific targets.
However, it took her years to convince investors and other scientists to support her research. “Our governments are not supporting enough research and development. It’s time to offer more opportunities for people to think outside the box,” she says.
Thankfully she found the support she lacked at home in the US and UK.
Helping the next generation – with special focus on the women
Shihab has not yet given up on the Middle East, insisting that Jordan is one of the best places in this region to start a business. “It’s full of talent. We’re a poor country, so we don’t have resources, but people are ready to try new things.” The big problem, however, is a lack of money.
Shihab’s solution is to help local entrepreneurs to pitch to global investors and attract inward investment. She joined New York-based NGO Endeavour, which selects high impact entrepreneurs who will make a difference in their communities.
“I’m trying to be the local representative for Jordan and Palestine.” She adds “What you don’t see on television is how Palestinians innovate, how they create and how they dream to make a difference globally.”
According to 2017 Palestinian state figures, youth unemployment is 40%. The statistics for female unemployment in Palestine are even higher, at 45%. More generally, work opportunities are challenging for Arab women all over the region.
Shihab says, “I come from a culture that is restrictive and male dominant. Business is not the first choice for women in the Arab world. They prefer us to be teachers, doctors, nurses – or housewives – but not businesswomen.”
In a bid to encourage women in the region to launch their own businesses, Shihab has started an NGO, the Applied Scientific Research Fund (ASRF). It helps aspiring female entrepreneurs by providing mentorship and guidance programmes. So far, she has helped three girls start their companies in Jordan and has provided the opportunity for almost a dozen young Arab women to study in Europe.
She states, “Our girls can be the best journalists in the world, the best doctors. Why not? It’s only a matter of confidence and will. And today, if you want to get education, you can just go online. Harvard offers free webinars. Cambridge offers free lectures.”
She proves that the region has many Penelope’s who dream to make a difference.
Source: www.arabianbusiness.com