The MIT Enterprise Forum (MITEF) for the Pan Arab Region will be announcing the lucky winners of the 10th MIT Enterprise Forum Arab Startup Competition in a final award ceremony to be held at the Kingdom of Bahrain’s International Circuit on the 27th of April. The competition is held in partnership with Community Jameel, a social enterprise organization that operates a wide range of initiatives which promote and contribute towards positive societal change and economic sustainability; Zain Group, a leading telecommunications innovator in eight markets across the Middle East and Africa; and Tamkeen, an organization tasked with developing Bahrain’s private sector and positioning it as the key driver of economic development.
The 74 semi-finalists from 11 Arab countries will undergo another round of training present their work over a three-day period from April 25th till the 27th to a jury that brings together some of the Arab world’s key investors and businessmen.
This year’s edition, which is of special importance as it celebrates the competition’s 10th anniversary, registered years of success and excellence while serving generations of young Arabs and their creative entrepreneurial ideas.
Hala Fadel, Chair of the board of MITEF Pan Arab stressed on technology and innovation as drivers of entrepreneurship in the region saying, “For our 10th anniversary, we want to gather the best entrepreneurs from the region, for them to learn from each other and from the global ecosystem. We insist on technology and innovation as the main drivers going forward for entrepreneurship in the region, and we think we are best positioned to lead this new trend.”
Fady Jameel, President of Community Jameel International, commented on the anticipated event: “The final award ceremony of this grand competition is just around the corner. The number of participants this year exceeded all expectations and we are absolutely delighted to be part of this exciting event, yet again, for the tenth year. Together we can truly give birth to an outstanding generation of young entrepreneurs.”
Commenting on Zain’s support of the latest MITEF Arab Startup Competition, Zain Group CEO- Operations, Scott Gegenheimer said: “We are delighted to partner other esteemed organizations in
the holding of this event in Bahrain, supporting the Kingdom’s 2030 Economic Vision, which is based on sustainability, fairness and competitiveness. Zain recognizes that technology, innovation and youth are key drivers for entrepreneurship across the region and our collaboration with MIT Enterprise Forum reflects Zain’s strategic vision of supporting young aspiring entrepreneurs to achieve their dreams.”
Chief Executive of Tamkeen, Dr. Ebrahim Mohammed Janahi emphasized the importance of this competition and said: “This year, Tamkeen chose to be a strategic partner for this prestigious competition. This is at the heart of our goals as a firm, to offer our support to all entrepreneurial initiatives in all vital sectors. We are proud to host this regional competition for the first time in the Kingdom of Bahrain stemming from our belief that such competitions inspire entrepreneurs to challenge themselves enabling them to develop and present their ideas in a competitive environment.”
The 74 teams from 11 Arab countries competing in the semi-finals are distributed as follows: Egypt (20), Lebanon (11), Saudi Arabia (9), United Arab Emirates (9), Jordan (7), Tunisia (5), Morocco (5), Bahrain (3), Sudan (2), Libya (2) and Algeria (1). All the qualified teams participated in special trainings and preparatory activities that were held in Egypt, Jordan and the UAE.
The cash prizes, which exceed $160,000, will be distributed among three finalists who will be selected in each of the three tracks: Startups, Social Entrepreneurship and Ideas. The winners will also benefit from advanced training sessions, personal mentorship and guidance not to mention a great deal of media coverage and excellent networking opportunities.
For more on MIT Enterprise Forum Arab Startup Competition, please visit: www.mitefarab.org .