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8th MIT Enterprise Forum Arab Startup Competition 2014-2015

by lanredahunsi
written by lanredahunsi
  • Deadline for accepting Applications: January 31st, 2015
  • Workshop and Final Awards Ceremony: April 16th – 21st, 2015

The MIT Enterprise Forum Pan Arab has a proven record in promoting MIT-style entrepreneurship by organizing each year the MIT Enterprise Forum Arab Startup Competition, in partnership with Abdul Latif Jameel Community Initiatives, targeting 21 countries of the Arab Region.

The MIT Enterprise Forum of the Pan Arab Region’s vision is to develop and nurture a culture of entrepreneurship across the Arab region, in view of becoming the most influential entrepreneurial network in the Arab World. This is done through building a platform for networking, knowledge sharing, showcasing, coaching and mentorship for entrepreneur

How to Apply?

In order to compete in the 8th Edition of the MIT Enterprise Forum Arab Startup Competition, applicants must select one track – and only 1 of the 3 available tracks: Ideas , Startups ,  Social Entrepreneurship

Ideas Track

Do you have a new business idea?
Do you want to make it happen?

For entrepreneurs with just ideas looking to take them to the next level

Eligibility Criteria for the Ideas track
  • You can apply as an individual or part of a team provided that at least one member is an Arab national
  • The business idea should be implemented in one of the Arab world countries
  • Your idea can be in any sector (Creative industries, Construction/Engineering/ Education/ Environment/Food and Agro Business/Health and Healthcare/Entertainment/ICT/Services, etc.)
  • No registration; No prototype; No funding; No sales

Startups+ Track

Do you own a startup?
Do you want to take it to the next level?

For startups with a working prototype and who started to generate revenues

Eligibility Criteria for the Startups track
  • At least three team members (at least one of the members should be Arab national)
  • The startup should be registered in one of the Arab world countries
  • Your idea can be in any sector (Creative industries, Construction/Engineering/ Education/ Environment/Food and Agro Business/Health and Healthcare/Entertainment/ICT/Services, etc.)
  • Working prototype, ideally with some user traction and some sales

Global Track

Do you have an established company?
Are you seeking Silicon Valley exposure and International funding?

For established companies seeking Silicon Valley exposure and funding from international VCs.

Eligibility Criteria for the Global track

At least 3 out of the 4 below requirements MUST be met:

  • Legally registered company + 2 years in operations
  • Raised at least one round of funding (through an accredited Angel Investor or a VC firm)
  • Has global reach or presence
  • Generates at least $500K/year in revenues.

Prizes

Startups Track: $50K for the first winner, $15K for the second winner, and $10K for the third winner

Ideas Track: $15K for the first winner, $10K for the second winner, and $5K for the third winner

Social Entreprneurship Track: 3 winners winning $10K each

Best Woman Entrepreneur: A special prize for the “Best Woman Entrepreneur” will be awarded to a woman entrepreneur from one of the Ideas/Startups/Social Entrepreneurship Tracks.

For More Information:

Visit the Official Webpage of the MIT Enterprise Forum Arab Startup Competition 2014-2015

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