Wednesday 17 October 2018

3 Egyptian teams win top honours at MIT Enterprise Forum contest

MANAMA, May 3, 2017

Three Egyptian teams scooped the top prizes at the MIT Enterprise Forum Arab Startup Competition held last week in Bahrain.

The competition was organised by the MIT Enterprise Forum (MITEF) for the Pan Arab Region and the final award ceremony was held at the Bahrain International Circuit.

The ceremony welcomed public figures, investors, media personnel and business entrepreneurs from across the globe.

This year’s competition was organised in partnership with Community Jameel, a social enterprise organization that operates a wide range of initiatives which promote and contribute towards positive societal change and economic sustainability; Zain Group, a leading telecommunications innovator in eight markets across the Middle East and Africa; and Tamkeen, an organisation tasked with developing Bahrain's private sector and positioning it as the key driver of economic development.

Prior to the final award ceremony, the 74 semi-finalists from 11 Arab countries underwent a round of training and presented their work over a three-day period from April 25 to 27 to a jury that brought together some of the Arab world’s key investors and business people.
The winners selected by the jury from three tracks: Startups, Social Entrepreneurship and Ideas are:
Ideas Track – Winner: Blink App (Egypt) - $15,000; 1st Runner up: SpicaTech Academy (Lebanon) - $10,000;
2nd Runner up: Nano Green Hub (Egypt) - $5,000

Social Entrepreneurship Track- Winner: Kiliim (Egypt) - $50,000; 1st Runner Up: Mind Rockets (Jordan) - $10,000; 2nd Runner up: Carpolo (Lebanon) - $5,000

Startups Track - Winner: Money Fellows (Egypt) - $50,000; 1st Runner up: Trukker (UAE) - $10,000; 2nd Runner up: Riego (Lebanon) - $5,000

Aside from the monetary rewards, the talented winners will also benefit from advanced training sessions, personal mentorship and guidance, as well as receiving a great deal of media coverage and excellent networking opportunities.

During the ceremony, Hala Fadel, chair of the board of MITEF Pan Arab, said: “It is time to invest more in the infrastructure that helps young people to hone and develop their entrepreneurial ideas, stressing the importance of utilizing technological innovation towards the modernization and development of tools that enable entrepreneurs to create technological solutions. This will in turn contribute to the revitalization of the economy and encourage the inauguration of partnerships that can eventually transform into large institutions that will house impeccable talent and capacities with opportunities to grow and develop.”

This year's edition, which is of special importance as it celebrated the competition’s 10th anniversary, registered years of success and excellence while serving generations of young Arabs and their creative entrepreneurial ideas.  – TradeArabia News Service

Tags: arab | Egyptian | MIT Forum |

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