MIT Enterprise Forum Arab Startup Competition 2021

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MIT Enterprise Forum Arab Startup Competition 2021

Deadline: 15th December, 2020

Summary:

Applications are open for the MIT Enterprise Forum Arab Startup Competition 2021. The MIT Enterprise Forum Arab Startup Competition (ASC) is a yearly competition initiated by the MIT Enterprise Forum Pan Arab since 2006. This annual competition is designed to empower entrepreneurs and foster an eco-system of innovation and entrepreneurship in the Arab Region.

Details:

ASC pits entrepreneurs in three different tracks: Ideas, Startups and Social Entrepreneurship Track. The winning teams are awarded prize money in equity free fund and benefit from a range of other activities including top tier training, mentorship, coaching, media exposure and great networking opportunities.

ASC Bootcamp

An intensive 3-day bootstrapping training program designed specifically for the semifinalist teams of the competition to prepare them for their final pitches. The training is customized for each of the three tracks and covers topics including but not limited to scaling businesses, building business models and value propositions, customer journey mapping, fundraising, and pitching. ASC boot camps also include the flagship mentorship activity putting the participating entrepreneurs face to face with leading industry experts. Held in a different Arab city every edition, that boot camps gather over a 100 entrepreneurs and have so far offered top-tier training for a total of 2,400 entrepreneurs.

Benefits:

  • Top tier training.
  • Mentorship.
  • Media exposure.
  • Networking opportunities.
  • Equity free prize money.

Eligibility requirement:

The eligibility vary per track:

Startups Track

  • At least two members.
  • Working product/service, traction and sales.
  • Generating revenues.
  • Have not raised funding above 1,500,000 USD.
  • Legally registered / operating in an Arab country.
  • Should be in Tech or Digital industry.

Ideas Track

  • At least two members.
  • Proof of concept & prototype.
  • Validated business model & clear plan to grow.
  • Has a mentor/industry Expert.
  • Should be in Tech or Digital industry.

Social Entrepreneurship Track

  • At least two members.
  • Working product/service, traction and sales.
  • Generating revenues.
  • Have not raised funding above 1,500,000 USD.
  • Legally registered / operating in an Arab country.
  • Should be in Tech or Digital industry.
  • Addressing a social challenge.

Judging Process

Round 1

  • Applications are accepted in English, French, and Arabic.
  • Each application is graded remotely by at least 2 different judges from technology, investment, acceleration, and tech savvy backgrounds.
  • Up to 50 semifinalist teams from different tracks are selected for the second round. These teams will have scored the highest average score on their application forms. MITEF Pan Arab reserves the right to modify the number of selected teams.

Round 2

  • The selected semi-finalist teams are required to attend virtually the bootcamp, round 2 judging process, the final award ceremony and conference.
  • The semi-finalist teams are required to pitch virtually and in private in front of a Round 2 jury panel, where they will have 3 minutes to present/pitch, followed by 5 minutes of Q&A.
  • The oral presentations should be delivered in English.
  • After the oral presentations , the jury will deliberate and select 10 finalist teams that qualify to the final round of the track.

Final Round

  • The finalists teams are required to pitch virtually and in private in front of a Final Round Jury panel where they will have 3 minutes to present, followed by 5 minutes of Q&A.
  • The oral presentations should be delivered in English.
  • After the oral presentations, the jury will deliberate and select the two winners of the track.

Application

To apply,

  • Create an account or log in if you already have one.
  • Select the language in which you wish to apply with.
  • Select the track.
  • Fill out the application form.
  • Submit the application before the deadline.

Click to apply

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