Arab Startup Competition Prizes: What’s in it for me?

A combination of equity-free cash prizes and in-kind services makes the MITEF Arab Startup Competition an attractive opportunity for aspiring entrepreneurs.

By definition, a competition is a merit-based activity in which two or more participants contest an award or the honorary superiority that comes from ‘being the best at something.’ While this may be true to many competitions out there, the MIT Enterprise Forum Arab Startup Competition differentiates itself by offering holistic benefits to all who participate, ensuring long-term impact that reaches various members of society.

Over 14 years, MIT Enterprise Forum Arab Startup Competition has designed numerous bootcamp training programs alongside partners across the MENA region. Besides, the competition has provided entrepreneurs with a platform to showcase their innovations and connect with potential customers and investors. Particularly, the competition has grown to become one of the inflection points in many of the region’s ideas, startups, and social enterprises.

Prizes are simply an incentive for the entrepreneurs to continue developing their products and to potentially Lead for a Better World. The prizes are not a measure of a startup’s success, rather only to make things fun and engaging for everyone.

This year, like many before, we have partnered with numerous stakeholders across the MENA to offer our semifinalists and winners a combination of in-kind services and equity-free cash prizes.

First thing’s first, we’d like to thank our partners Community Jameel (Main Partner) and Zain Group (Strategic Digital Partner) for supporting the organization of the 14th edition of MITEF Arab Startup Competition.

Each competition track winner will be offered $10,000 in equity-free cash prizes, totaling to a sum of $30,000 for all three tracks.

Furthermore, Microsoft for Startups Middle East (Technology Partner) will provide eligible candidates the opportunity to join its prestigious Microsoft for Startups Program, in addition to Azure cloud credits and hands-on support. Also, Oracle MENA will be offering all semifinalist teams with cloud credit and ongoing support to migrate on the cloud and completely adopt digital transformation.

On the other hand, our Acceleration Partner Mohammed Bin Rashid Innovation Fund (MBRIF) will be giving a training session during our upcoming bootcamp, in addition to fast-tracking eligible candidates to its industry-leading accelerator program.

Lastly, we are particularly excited to be partnering with GrowIN Portugal (Prize Partner), an organization that offers support for entrepreneurs to expand to Europe, to offer €10,000 in services credit in addition to an all-expenses-paid ecosystem visit to Portugal, where the 6 competition winners (1 first-place winner from each track and 1 runner up from each track) will attend Web Summit in Lisbon (flight and accommodation covered).

The application deadline is nearing! Make sure to submit your Arab Startup Competition application before December 15, 23:59 Beirut time.

#ASC2021 #MITEFArab

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