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Startups Track

Startups Track

For Legally Registered Companies

Eligibility Criteria for the Startups Track

• Each team should have at least two members
• The team should have a working prototype and ideally some user traction and some sales
• The startup should not have generated more than $500K in annual revenues and must have been operational for less than 5 years
• The startup should be legally registered in an Arab country
• The startup can be in ANY industry

Criteria

Team: The team takes up an important part of the total grade. Judges look for experience, value added, and the relevance of each team member to the project.
Innovation: The idea must be either new, or demonstrates a marked improvement to an existing solution or a business process. Innovation does not necessarily mean technology.
Scalability: A startup should not be limited to a local market. At a minimum, a nationwide market should be targeted. Preferably, the business should be easy to replicate regionally or globally as the company expands.

Selection of Semifinalists

30 teams of the Startups Track will be shortlisted for the second round of the competition.

Teams are expected to work on and submit specific deliverables prior to the workshop and conference. Qualified teams are not required to pay a participation fee for any of the workshop or conference. Each of the participants is expected to pay for their own flight ticket. The MIT Enterprise Forum Pan Arab will be paying all other expenses for up to two members per team, including accomodation, lunch and coffee breaks, ground transportation to and from the event venue. Other members attending the event can benefit from our special rates.

Prizes

Three winning teams will be selected and will receive cash prizes: $50K for first place, $10K for second place, and $5K the third place. Beside prize money, all qualifying teams would be benefiting from top tier training, coaching, mentorship, and great networking opportunities.

For more info about the application Form, selection of the qualifying and winning teams, and the disbursement of prizes, carefully read the Terms & Conditions.