The Dubai chapter of The Indus Entrepreneurs (TiE Dubai) today announced that it has selected SolarGridX as the Middle East entry for the global TiE Young Entrepreneur (TYE-U) competition.
The winner was selected from the four finalists that also included IoLetics (Obilizer), NinoPay and Dukan. SolarGridX will now compete against winners from 17 cities representing TiE Chapters across the globe to pitch to investors at the global level where one winner will take away $10,000 worth of prize money.
This inaugural competition for the Middle East leg was launched in partnership TiE Dubai’s Academic Partner, Skyline University’s Entrepreneurship and Innovation Center (SEIC) and communications partner, The Young Vision. TYE-U provides an opportunity for students to launch an idea, product, or service.
At a live finals event for the Middle East leg held on 27 July, judges scored the final four teams based on problem definition, value proposition, market identification and the viability of the project’s success.
The team behind SolarGridX will now be mentored by TiE Dubai until September 12 including exclusive bootcamps and sessions to help the team improve their project and their chances of winning. They also get networked into a global community of investors throughout the process. In addition, TiE Dubai will work with the other finalists to help them hone and develop their projects.
Nitin Anand, Charter Member and chair of the TYE-U program at TiE Dubai, said, “We had qualified entries from 20 teams from more than 10 universities from the Middle East. We were quite pleased with the caliber of entries and this is a promising sign for a country like UAE that encourages innovation and entrepreneurship. We hope to extend this to the wider MENA (Middle East & North Africa) region, opening this truly global and inclusive program to more youth in the region.”