Win equity-free Prize money for Arab Startups in the MIT Enterprise Forum Arab Startup Competition 2021

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Register your startup or refer a startup for the 14th edition of the Arab Startup Competition set to take place virtually, for a chance to win prize money and more. 

All registered startups will participate under the three different tracks- Ideas, Startups and Social Entrepreneurship Track, and gain media exposure and great networking opportunities. 

Application Deadline: December 15, 2020. 

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Benefits

The winning teams will be awarded equity-free prize fund. 

Other benefits of participating include:

  • Coaching.
  • Top Tier Trainings. 
  • Mentorship. 
  • Media Exposure. 
  • Networking Opportunities.

Eligibility

In order to be consider for the contest, Startups have to satisfy the following eligibility criteria. 

For 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/Digital industry. 

For 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/Digital industry. 

For 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/Digital industry. 
  • Addressing a social challenge. 

Requirements/Specifications 

  • Startups are to apply through the track most relevant to them as described below:
    • Startups Track: For registered companies, that have generated revenues and have a working product/service, traction, sales.    
    • Ideas Track: For entrepreneurs with innovative ideas. Applicants should have a working prototype.
    • Social Entrepreneurship Track: For Registered companies, with a working product/service that addresses a social problem, traction, sales and have generated revenues. 
  • Each team/entrepreneur is allowed one entry.
  • The organizers reserve the right to place startups in a different track than what entrants have selected, if deemed more suitable.
  • To be eligible for consideration for the Startups Track, the startup has to have sales and a database of user traction.
  • Startups not registered in an Arab country but that operates in one, can still apply.
  • Entrepreneurs from all ages may apply.
  • Applications will be accepted in English, French, and Arabic.

Free Worksheet and Checklist

Here at Camberene, we go the extra mile to make sure you win. So we have designed a beautiful checklist to help you keep track of your progress and make sure you’re doing things correctly.

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Application Instructions

To apply for the MIT Enterprise Forum Arab Startup Competition 2021- 

Click here to apply through the website.

Note that the track registered in cannot be changed once submitted.

About the MIT Enterprise Forum Arab Startup Competition 2021

Launched in 2006 by the MIT Enterprise Forum Pan Arab, the MIT Enterprise Forum Arab Startup Competition (ASC) is an annual contest designed to empower entrepreneurs. 

The competition seeks to promote and  foster an ecosystem of innovation and entrepreneurship in the Arab Region. 

Entrepreneurs are pitted in three different tracks: Ideas, Startups and Social Entrepreneurship Track. 

Key Dates and Order of Program

The deadline for application is December 15th, 2020. 

Semifinalists will be announced by January 14th, 2021. 

Semifinalists bootcamp will take place between January to February 2021. 

The Virtual conference and awards ceremony will take place by March 2021.

A total of around 70 teams will get selected from the 3 tracks – Startups, Ideas and Social Enterprises.

Each application will be graded remotely by at least 2 different judges from technology, investment, acceleration, and tech savvy backgrounds.

Up to 50 semifinalist teams from different tracks that have scored the highest average score on their application forms, will be selected for the second round. 

The selected semi-finalist teams are required to attend virtually the boot camp, final round judging process, the final award ceremony and conference.

The semi-finalist teams are required to pitch virtually and in private in front of a final round jury panel, where they will have 3 minutes to present/pitch, followed by 5 minutes of Q&A in English.

After the oral presentations, the jury will deliberate and select the two winners of the Startups Track, the two winners of the Social Entrepreneurship Track and two winners for the Ideas Track.

The Judging Criteria are:

  • Team
  • Innovation
  • Scalability
  • Financial sustainability 
  • Social impact(For social entrepreneurship track)

Selected semifinalist teams will participate virtually in a full day boot camp training designed by MIT Enterprise Forum Pan Arab.

The boot camp is an intensive full day virtual training to bootstrap teams for the final judging round. Participation is mandatory for at least 1 member from the founding (or management) team of the startup.

Teams will also be provided with mentorship activities where they get the chance to network with professionals and investors.

Then, the semifinalist teams will have to virtually pitch in front of a final round jury panel.

During the final event, all semifinalist teams will get online booths to exhibit their project/startup.

Winners will be announced by the end of the event.

For the boot camp, up to 2 team members are required (Founder/CEO) included.

For the final round judging, up to 2 team members (Founder/CEO) included.

For the final event, all team members are welcome to virtually attend.

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