Deadline: 10 December 2018
Entries are open for 12th edition of the MITEF Arab Startup Competition and lead with bigger steps. MIT Enterprise Forum Arab Startup Competition (ASC) 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
- The three winning teams will receive cash prizes:
- $50K for first place
- $10K for second place
- $5K for third place
- Beside the prize money, all qualifying teams would be benefiting from top tier training, coaching, mentorship, and great networking opportunities.
- The three winning teams will receive cash prizes:
- Ideas Track
- The three winning teams will receive cash prizes:
- $15K for first place
- $10K for second place
- $5K for third place
- Beside the prize money, all qualifying teams would be benefiting from top tier training, coaching, mentorship, and great networking opportunities.
- The three winning teams will receive cash prizes:
- Social Entrepreneurship Track
- The three winning teams will receive cash prizes:
- $50K for first place
- $10K for second place
- $5K for third place
- Beside the prize money, all qualifying teams would be benefiting from top tier training, coaching, mentorship, and great networking opportunities.
- The three winning teams will receive cash prizes:
Eligibility Criteria
- Startups Track
- Each team should have at least two members
- The team should have a working product/service, traction and sales
- The startup should be generating yearly revenues
- The startup should not have raised funding above 1,500,000 USD
- The startup should be legally registered in an Arab country or registered abroad and operating in an Arab country
- The startup should be in any Tech or Digital industry
- Ideas Track
- Teams are required to have a proof of concept (surveys, track record, clients list, etc.) for their ideas and a prototype
- Having the startup registered is a plus
- Ideas / Startups should have a validated Business model, with a clear plan on how to grow (In terms on team, markets, geographies, etc.)
- Reference/Recommendation from a mentor/industry expert
- The ideas should be in any Tech or Digital industry
- Social Entrepreneurship Track
- Each team should have at least two members
- The team should have a working product/service addressing a social challenge with a For-Profit model
- The startup should be legally registered in an Arab country or Registered abroad and operating in an Arab Country
- The startup should be generating yearly revenues
- The startup should not have raised funding above 1,500,000 USD
- The startup should be in any Tech or Digital industry
How to Apply
Interested applicants must apply online via given website.
For more information, please visit Arab Startup Competition.