The annual MIT Enterprise Forum Saudi Arabia startup competition that is set to take place in 2018 has attracted 2,536 applicants – which is up to 14% from the previous year.
This year’s theme is “Create your tomorrow,” and has three categories: ideas, startup, and social enterprise. The category startup has the biggest growth at 45%, followed by the ideas category at 27%, and social entrepreneurship at 14%.
The qualified semifinalists will be announced on January 15, 2018. After that, for two months the semifinalists will be receiving training and mentorship. Winner will then be announced at an Awards Ceremony in Riyadh on March 3rd with the presence of the guest of honor the Minister of Commerce and Investment Majid Al-Qassabi.
The startup competition is organized by the Community Jameel initiative in partnership with Zain Saudi Arabia and Dulani Business Center. The upcoming 2018 competition marks its third year in the series.
Sultan bin Mohammed Al-Shahrani, Chief of human resources and communication officer at Zain Saudi Arabia said: “We are pleased to support the MITEF Saudi startup competition for the second successive year, affirming the role of such competitions in providing opportunities to young Saudi talents to join the entrepreneurship community, which in return supports the Kingdom’s Vision 2030, the ambitious vision that we all must work to achieve its goals and programs. The strong competition in previous editions and the number and level of candidates this year promises a bright future for innovation and entrepreneurship in the Kingdom.”
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