Good news for all those Middle Eastern startups waiting for an opportunity to prove themselves on one of the biggest platforms the region has to offer to emerging businesses. The Saudi unit of the famed MIT Enterprise Forum (MITEF) has announced that registrations are now open for the fourth edition of the Saudi Startup Competition.
The competition is open for Saudi and non-Saudi entrepreneurs from all age groups and industries. The application window will remain open till December 25, 2018. Aspiring participants can apply in any of the three available categories: Ideas Track, Startup Track, and Social Enterprise Track.
The Ideas Track is for those entrepreneurs focusing on creative and scalable ideas that can offer impactful social and business solutions. The Startup Track is ideal for registered companies that are scalable and have experienced teams. The Social Enterprise Track, as the name suggests, will seek and identify successful social enterprises.
The winning teams will receive SAR 325,000 in funding, in addition to which, they will also get a chance to enroll in an extensive series of workshops, training, and mentoring sessions overseen by business and social enterprise leaders from across the region and beyond.
“We are eagerly awaiting the new edition of the MITEF Saudi Startup Competition and the upcoming group of Saudi entrepreneurs and talent. This event provides knowledge, networking, and training for entrepreneurs,” said Fady Jameel, President of Community Jameel International.
He added: “We invite all Saudis with creative ideas or enterprises to register in the competition to receive mentoring, meet high-profile speakers from the region and beyond, network with potential partners and win one of the cash prizes.”
Held in collaboration with Bab Rizq Jameel, a Community Jamil initiative, the 2019 edition of the competition will be hosted under the theme “Challenge Yourself”. The primary focus of the competition will be to give participants global visibility and help them evolve into significant contributors toward Saudi Vision 2030.