MIT Enterprise Forum Pan Arab Invites Applications for Its 12th Arab Startup Competition
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The MIT Enterprise Forum’s 12th edition of the Arab Startup Competition, a globally-recognized platform for young Arab entrepreneurs to showcase, test and develop their innovative ideas, is accepting team registrations until December 10, 2018.
Each year, the Arab Startup Competition incorporates three tracks: The Ideas track, the Startups track and the Social Entrepreneurship track, with cumulative cash prizes of US$160,000. The teams that qualify for the semi-finals will participate in a series of preparatory activities, including training sessions, mentorship, coaching, and workshops. In the final stages of the competition, the three most promising teams will be crowned winners for each of the tracks.
Hala Fadel, Chair of the Board of MITEF Pan Arab, said that the Arab Startup Competition is a unique platform for entrepreneurs to showcase their business models and to build large networks in and outside of the Arab region. “Throughout the last twelve years, we have seen a growing Arab startup scene, with an increasing number of entrepreneurs applying for this particular competition, who not only want to launch a business but who want to stand out from the crowd,” Fadel added. “Thanks to Community Jameel, our longtime partner, we offer Arab entrepreneurs cash prizes, learning tools to move forward, and entry point to investors and other supporters.”
Since its first edition in 2006, the MIT Enterprise Forum Pan Arab trained and empowered more than 2,300 entrepreneurs; received a total of 40,000 applications; while the winners received a sum of US$ 1,080,000 in equity-free investment. Interestingly, 51% of all the semi-finalists teams had at least one female leading member.
This year’s competition will be held in partnership with Community Jameel, the World Bank Group, touch, Beirut Digital District (BDD), Roland Berger, as well as Careem. It will conclude with an official awards ceremony in Beirut, Lebanon, on April, 3 – 4, 2019.
Interested Arab entrepreneurs should register on the competition’s official website until 10 December 2018.