BEIRUT — The MIT Enterprise Forum (MITEF) Pan Arab announced the inauguration of the MIT Enterprise Forum Arab Startup Competition for 2018 in partnership with Community Jameel, a social enterprise organization that operates a wide range of initiatives that promote and contribute towards positive societal change and economic sustainability. The registration opened on September 3rd on the competition's official website: mitarabcompetition.com, and will last until November 27, 2017. Last year, on its 10th anniversary, the prestigious competition witnessed an unprecedented increase in the number of applications from across the Arab world, up 39% from the year before.
The MIT Enterprise Forum Arab Startup Competition has evolved into an annual occurrence that is awaited by thousands of young Arabs, who see it as a platform that allows them to showcase, test and develop their creative and pioneering ideas. Each year, the competition incorporates three tracks: the Ideas track, the Startups track and the Social Entrepreneurship track, with cumulative cash prizes of $160,000. The teams that qualify for the semi-finals will be invited to participate in preparatory activities that compromise trainings and workshops. The timing and location will be announced at a later stage.
In the final stages of the competition, the most promising teams will be crowned winners from each of the three tracks. In addition to monetary rewards, they will also benefit from advanced training sessions, personal mentorship and guidance, not to mention a great deal of media coverage and excellent networking opportunities.
Hala Fadel, Chair of the board of MITEF Pan Arab, expressed her deep content with the status of this competition in the Arab world and its positive contribution to fostering a culture of entrepreneurship and a community of entrepreneurs. She elaborated on its crucial support and constructive approach towards young Arab's pioneering ideas, some of which have become international success stories. She said, "Following the competition's tenth anniversary last year, we are very excited to be embarking on another decade of innovation. The region graduates over 300,000 engineers every year, that's 3 times as much as California. Talent in this region is here and ready to innovate and we are here to support these talented young men and women."
Fady Jameel, President of Community Jameel International, said "the drive to increase opportunities for innovation across the Arab world is well known, and is an area which has seen tremendous support from government entities and NGOs across the region. At Community Jameel, we too are keen to play our part in supporting our young entrepreneurs. Through our partnership with the MITEF Pan Arab, we are helping to shape a supportive environment where new ideas flourish and can be brought to life. We look forward to seeing young minds continue to explore and develop exciting projects in this 11th edition of MITEF Arab Startup Competition."
The MIT Enterprise Forum Arab Startup Competition will conclude with an event organized over the course of 3 days in April 2018 where the winners will be announced in an official awards ceremony. For more information on this year's MIT Enterprise Forum Arab Startup Competition registration process, eligibility and judging criteria, as well as the planned roadshows, please visit: www.mitarabcompetition.com — SG
