The MIT Enterprise Forum (MITEF) Pan Arab and MITEF Saudi Arabia announce the launch of the MITEF Startup Competition 2021-2022. This year’s competition will provide the opportunity for the participants from Arab Startup Competition and Saudi Startup Competition to compete under a single giant competition; organized & supported by Bab Rizq Jameel & Community Jameel Saudi and under the Patronage of the Governorate of Madinah Region.
The MITEF Startup Competition 2021-2022 pits entrepreneurs in three different tracks: Ideas, Startups, and Social Entrepreneurship. The competition aims to enable entrepreneurs and promote an eco-system of innovation and entrepreneurship in Saudi Arabia and the Arab world, with a special focus this year focusing on Al-Madinah, Saudi Arabia.
This year’s edition launches with the slogan “Empowering Today. Transforming Tomorrow” through a 7-month thrilling journey, filled with exciting activities like top-tier training, mentorship, media exposure, and excellent networking opportunities, not to mention the winning teams benefit from equity free-fund cash prizes.
Mohammed Sanad Al-Yousif, CEO of the Economic Development Center in the Madinah governorate, said “Community Jameel Saudi’s MITEF Startup Competition contributes to the enhancement of the entrepreneurial ecosystem, the success of the region’s startups, and the support given to ideas and investment projects. This is the role that serves the expansion and support of innovation and entrepreneurship.”
The MITEF Startup Competition 2021-2022 will conclude with a final conference and awards ceremony that will take place during the Start Smart Conference, during the month of March 2022 in Al-Madinah, Saudi Arabia, during which this year’s Startup Investment Forum (SIF) will also take place.
Applications are open for submissions starting September 15, 2021, until December 6, 2021. Entrepreneurs and innovators from Saudi Arabia and the Arab world of all ages and industries can apply to one of the competition’s three tracks: Ideas, Startups, Social Entrepreneurship through the competition’s website: www.mitarabcompetition.com or www.mitefsaudi.org.
The competition’s organizers will be conducting several roadshows and informative sessions throughout several Arab countries and Saudi Arabia, introducing the competition’s criteria and application process and helping candidates perfect their applications.
Hala Fadel, Founder and Chair of MITEF Pan Arab said “We are delighted to partner with MITEF Saudi Arabia this year to officially launch the Startup Competition 2022 that will be held in Al-Madinah. After running the Arab Startup Competition (ASC) for 15 successful editions in different Arab cities, we realize the importance of empowering our entrepreneurs by providing them with the proper training and mentorship and the effect that they have on transforming the entrepreneurship ecosystem. According to the 2020 Arab Entrepreneurship Maturity Index: Insights and Forecasts report that we published, ASC startups’ customer base grew by 43% over the previous two years and 45% of startups expanded into new geographic markets, notably the United States, Canada, Latin America, Europe, Africa and East Asia. Our work for the past years comes from the deep-rooted belief that investing in this region’s human capital is elemental to its long-term economic and social mobility. We look forward to this upcoming edition and the transformations that will impact the societies around the region.”
Hassan Jameel, Vice Chairman of Community Jameel, said “We are proud to be a partner and to take part in this exceptional edition of the 2021-2022 MITEF Startup Competition welcoming entrepreneurs across the Arab world. The MITEF Pan Arab and the MITEF Saudi Arabia startup competitions have succeeded in establishing more than 550 startups and providing more than 15,600 job opportunities, highlighting the outstanding entrepreneurial eco-system in the Al-Madinah region of Saudi Arabia.”
