Business & Money | Monday 6 November, 2017 3:02 pm |

The MIT Enterprise Forum (MITEF) Saudi Arabia) is now accepting entries from Saudi entrepreneurs for its third annual competition. Under the theme ‘Create your tomorrow’, the competition is again in collaboration with Bab Rizq Jameel – a Community Jameel initiative.

Closing date for applications is November 25 and the winners will be announced at an awards ceremony on March 3 next year.

 

As part of the MITEF global network, MITEF Saudi, works to stimulate and inspire participation by Saudi entrepreneurs with the overall aim of working towards the Saudi 2030 Vision. By creating technology and developing creative ideas that are beneficial to the Saudi economy and the wellbeing of the country, the competition celebrates the achievements of Saudi entrepreneurs and helps promote their works abroad.

 

Fady Mohammed Jameel, President of Community Jameel international, said: “As Saudi Arabia actively encourages the growth of entrepreneurship, competitions such as MITEF Saudi Arabia are a platform for real change and give budding entrepreneurs the chance to contribute to our country’s future. MITEF Saudi Arabia and Community Jameel are proud to support entrepreneurs who are keen to contribute to a stable, diverse, and sustainable economy.”

 

Entries are accepted from Saudi and non-Saudi entrepreneurs of all ages and from all economic sectors. As usual, there are three categories: ideas, startup, and social enterprise.

 

The startup track targets the advancement of effective commercial enterprises already registered within Saudi Arabia. These startups need to have an established team as well as a strong and commercially viable concept with the potential to expand and grow with support from MITEF.

 

The ideas track aims to promote innovative concepts that are at the concept stage, but with the potential to grow and expand. These ideas must have the potential to develop into effective commercial or social solutions.

 

The social enterprises track aims to promote and support social projects officially registered at the KSA.

 

The competition as a whole offers cash prizes worth up to SR 220,000 but perhaps more importantly, gives entrants access to guidance, workshops, and training by experts and across all commercial and social sectors.

 

 

 

 

 

 

Participants who advance to the final stages of the competition will have the opportunity to participate in the Saudi StartSmart Forum – a MITEF programme that aims to encourage, motivate, and guide entrepreneurs to achieve success. This programme supports idea creation and commercial and social enterprises through workshops and seminars that are directly relevant to technology and innovation.

 

Nine of the winners will also be invited to participate in the 11th season of the MITEF Pan Arab competition seeking the best ideas, startups and social enterprise concepts across the Arab world. 

 

Applications are currently being received at the MITEF Saudi website http://www.mitefsaudi.org