Seedstars World, the Swiss group that runs global startup competitions around the world is coming to two new countries in the Middle East for the first time – Iraq and Libya.
Seedstars are searching for the most promising seed-stage startups from Iraq and Libya, that are less than two years old, have raised less than $500,000 in funding, and have a minimum viable product and some traction. Additionally, Seedstars prefers that the startups could scale at a regional or global level.
They will be selecting ten best startups for each edition and will be given five minutes to pitch in front of a jury on the day of the event. The jury is going to be comprised of local startup ecosystem representatives who will select the best startups from rach competition. But that’s not the exciting part yet. The best startups will then fly to Switzerland next year to participate in the Seedstars Summit and compete against startups from more than 60 emerging markets to win $1 million in equity investment.
Omar Barakat, Regional Associate for MENA with Seedstars expressed his excitement on hosting the Seedstars competition in Libya and Iraq saying: “At Seedstars, we believe talent and good ideas are everywhere. We see ourselves as a platform connecting investors to the next generation of startup entrepreneurs in places where normal people wouldn’t think the startup ecosystem has such traction, growth, and buzz. We are very excited to be in Libya and Iraq for the first time and we are here to witness the reality.”