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The MIT Forum for Entrepreneurship in the Arab World and Saudi Arabia has announced the launch of registration for the MIT Forum Startup Competition 2021-2022, which is the product of the cooperation between the MIT Forum Arab Startup Competition and the MIT Forum Startup Competition in Saudi Arabia . With the support and organization of the Saudi community Jameel and Bab Rizq Jameel, under the patronage and supervision of the emirate of the region of Al Madinah Al Munawwarah.
This annual competition aims to empower entrepreneurs and foster an ecosystem of innovation and entrepreneurship in Saudi Arabia and the Arab region, with a focus on the Medina region this year. The Startup 2021-2022 competition places entrepreneurs on three different tracks: Ideas, Startups and Social Business Track. The winning teams receive financial prizes in the form of unrequited investments, and they also benefit from a range of other activities such as: obtaining high-level training, as well as guidance, counseling and media exposure of participants, and unique opportunities for knowledge, relationship building and communication.
The MIT Forum Startup Competition in Saudi Arabia and the Arab World, hosted this year under the slogan “We Empower Today for a Better Tomorrow,” is a seven-month trip filled with excitement, training, opportunities for networking, networking, media exposure, mentoring, and access to funding. The final events of this competition will be held at the Start Smart Conference in Medina in March 2022, during which the Startup Investment Forum (SIF) will conclude with the announcement of this year’s winners.
Registration for the contest begins September 15 and continues through December 6, 2021 by visiting the contest website. Entrepreneurs from Saudi Arabia and the Arab world of all ages and from all economic sectors can apply to participate in one of the three components of the competition: the ideas component, the startups track, and the social enterprises track, depending on the conditions of the competition. competition . The organizers will organize a series of orientation visits, to Saudi Arabia and a number of Arab countries, which will introduce entrepreneurs to the criteria and mechanisms for applying for the competition and assist them in their application.
On this occasion, Muhammad Sanad Al-Yousef, CEO of the Economic Development Center of the Emirate of Al-Madinah Al-Munawwarah, said: “Based on the development role of the emirate of Al-Madinah Al -Munawwarah and its efforts to advance the local economy and support the national product, which represents a central element of the entrepreneurship system and in line with the goals of Vision 2030 as part of the existing efforts of the Development Center in the emirate of the region to increase the attractiveness of investment and improve the ease of doing business, which contributes to the implementation of various programs achieving the vision and in alignment with the strategic objectives of the region that support and stimulate the entrepreneurship sector as it is one of the most important factors aimed at growing the size of the private sector in the region. In this regard, Community Jameel Saudi Arabia, through the combination of the MIT Forum Arab Startup Competition and the MIT Forum Startup Competition in Saudi Arabia, has achieved many successful milestones, which help to improve the entrepreneurial environment and the success of startups, by supporting ideas and sponsorship of investment projects, a role that The Expansion Trend serves to support innovation and entrepreneurship.
He added, “We are pleased to welcome the forum as the culmination of showcasing Al-Madinah Al-Munawwarah as a global destination to launch businesses and attract quality investments to achieve sustainable development, if God wants it, under the directives of His Highness the Emir of the region and his deputy, that God grant them success and under the direction of the guardian of the two holy mosques and of his trusted crown prince, that God preserve them, by realizing a prosperous economy and by contributing to the achievement of a prosperous economy. in the economic development of the region and of this dear country.
Hala Fadel, Chair of the Board of Directors of the MIT Forum for Entrepreneurship in the Arab World, said: “We are pleased to announce our partnership with the MIT Forum in Saudi Arabia this year to officially launch the Startup Competition 2022, which will be held in Medina. After the remarkable successes of 15 editions of the Arab Startup Competition in different Arab cities, we learned the importance of supporting entrepreneurs in the region through appropriate training and educational courses, and discovered the impact of their efforts. in strengthening the entrepreneurship ecosystem. Based on the Arab Entrepreneurship Maturity Index 2020: Our previously published Insights and Outlook report shows that the Arab Startup Competition customer base has grown by 43% over the past two years and 45% of startups have expanded geographically to new markets, especially in the United States of America and Canada and Latin America, Europe, Africa and East Asia. Our efforts in previous years stem from our firm belief that investing in human capital in this region is essential to long-term economic and social movement. We look forward to this next edition of the competition and the change it will bring to societies in the Arab world.
Hassan Jameel, Vice President of Community Jameel, said: “We are proud to be partners of this competition and we are delighted to participate in the extraordinary session of the MIT Forum Startup Competition 2021-2022, which will host entrepreneurs from the Arab world. . . With the establishment of over 550 start-up projects and the creation of over 15,600 job opportunities, the MIT Forum Arab Startup Competition and the MIT Forum Startup Competition in Saudi Arabia have proven to be an example of exceptional entrepreneurial environment, especially in the Medina region.
Watch the video of the MIT Startup Forum Competition 2021-2022 at this link:
For more information on the MIT Startup Forum 2021-2022 competition registration process, as well as eligibility criteria and judging, please visit the competition website:
Stay tuned for more information and developments on social media:
Instagram @mitefsaudi
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