Carrying the slogan, ‘Empowering Today. Transforming Tomorrow’, applications for the competition are now open to all and any entrepreneur in the region.
The MIT Enterprise Forum (MITEF) Pan Arab and its Saudi-based arm have announced the launch of the MITEF Startup Competition for 2021/2022, an edition that if the competition that will invited startups that participated in the Arab Startup Competition and the Saudi Startup Competition to compete in what is essentially being touted as a mega-competition.
Supported by Bab Rizq Jameel and Community Jameel Saudi, the competition will be split up into three tracks: Ideas, Startups and Social Entrepreneurship. Carrying the tagline, ‘Empowering Today. Transforming Tomorrow’, the competition aims to enable entrepreneurs and generally provide a shot in the arm of Saudi and wider MENA ecosystems. MITEF intends to do so through a seven-month programme that will offer participants top-tier training, mentorship, networking opportunities and media exposure - as well as free-fund cash rewards.
The programme will come to a head at the Start Smart Conference, taking place in March 2022 in Al-Madinah in KSA, where a final conference and awards ceremony will crown the winners.
“After running the Arab Startup Competition for 15 successful editions in different Arab cities, we realise the importance of empowering our entrepreneurs by providing them with the proper training and mentorship and the effect that they have on transforming the entrepreneurship ecosystem” Fadel said. “ASC startups’ customer base grew by 43% over the previous two years and 45% of startups expanded into new geographic markets, notably the United States, Canada, Latin America, Europe, Africa and East Asia,” she added. “Our work for the past years comes from the deep-rooted belief that investing in this region’s human capital is elemental to its long-term economic and social mobility.”
Open to entrepreneurs from all across the region and from all industries are welcome to apply. Applications are now open, with the submissions set to close on December 6th. You can find out more information and apply at www.mitarabcompetition.com or www.mitefsaudi.org.