5 Reasons You Should Apply For MENA’s Biggest Startup Competition
Founded in 2005, the MIT Enterprise Forum of the Pan Arab Region, one of 28 worldwide chapters of the MIT Enterprise Forum Global, is an avid enabler of entrepreneurship and innovation targeting 21 countries in the Arab region.
In line with MENA’s entrepreneurial growth and booming startup ecosystem, the forum went on to launch its own competitive platform, the MIT EF Arab Startup Competition, which has attracted a total of 80,000 applicants over the past few years and is now back in its 10th and largest edition to date.
So whether you’re an aspiring entrepreneur or just have an interesting business idea in mind, here’s why you should consider applyingfor such an opportunity.
1. You’re in for one of the biggest entrepreneurship competitions in the MENA region.
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With over 6,000 applications from 21 Arab countries every year, the MIT EF Arab Startup Competition ranks among the top startup competitions in the region. “Organized by the MIT EF Pan Arab Region in partnership with Community Jameel and Zain, the 10th edition of the competition was opened for applications in October 2016 and the deadline for receipt is January 4, 2017,” MIT EF Pan Arab Project Manager Nadine Badreddine told Beirut.com.
2. You also get to pick between 3 different tracks.
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You do not have to be a registered startup to apply as the competition receives applications in Arabic, English, and French under three different tracks: the Ideas Track for entrepreneurs with innovative ideas, the Startups Tracksfor legally registered companies and the Social Entrepreneurship Trackfor social entrepreneurs.
3. Countless networking and mentorship opportunities await.
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So far, the competition has created more than 250 knowledge-based jobs and coached a total of over 1,600 entrepreneurs by engaging them in top-notch training and mentorship, all while providing them much-needed media exposure and countless networking opportunities.
4. And up to $160,000 in prize money!
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In addition to the aforementioned benefits, the first three ranked winners of each track will be awarded cash prizes totaling $160,000. “MIT EF is an avid promoter of entrepreneurship and innovation worldwide through the involvement of aspiring entrepreneurs in initiatives that help them start and grow sustainable businesses,” Badreddine explained.
5. This is your chance to be among the 70 semi-finalist teams to make the cut.
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Seventy semi-finalist teams will ultimately be announced in February 2017 and invited to an action-packed pre-bootcamp scheduled to take place in Egypt, Jordan, Morocco, and the UAE during the months of February and March 2017. “The competition will culminate in a four-day event in Bahrain between April 24 and April 27,” Badreddine concluded.
