Deadline: 10 December 2019
Applications are now open for 13th edition of the MIT Enterprise Forum Arab Startup Competition (ASC) which is a yearly competition initiated by the MIT Enterprise Forum Pan Arab since 2006.
The winning teams are awarded 160K USD in equity free fund and benefit from a range of other activities including top tier trainings, mentorship, coaching, media exposure and great networking opportunities.
Tracks
- Startups Track
- Ideas Track
- Social Entrepreneurship Track
Prize Information
- Startups Track
- 50,000 USD
- 10,000 USD
- 5,000 USD
- Ideas Track
- 15,000 USD
- 10,000 USD
- 5,000 USD
- Social Entrepreneurship Track
- 50,000 USD
- 10,000 USD
- 5,000 USD
Eligibility Criteria
- 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
Applications are accepted in English, French, and Arabic:
- Each application is graded by at least 2 different judges. Judges place more importance on certain criteria, depending on the track applicants.
- 20 semifinalists teams are selected for second round of the Ideas track/Social Entrepreneurship Track and 30 semifinalists teams are selected for second round of the Startups Track. 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
- The semifinalists teams must work on and submit certain deliverables that will be communicated with them in due time prior to the workshop and conference. The semifinalists teams must also sign the “engagement letter” form. All members whose names are mentioned as part of the team must sign the form.
- 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 to the final event. The MIT Enterprise Forum Pan Arab will be paying all other expenses for up to two members per team, including accommodation, lunch and coffee breaks, ground transportation to and from the event venue. Other members attending the event can benefit from their special rates
How to Apply
Applicants must apply online via given website.
For more information, please visit https://mitarabcompetition.com/