Sixth edition of highly-anticipated MIT Enterprise Forum Arab Startup Competition in partnership with ALJ Community Initiatives kicks-off in Jordan
- Jordan: Wednesday, October 10 - 2012 at 15:17
- PRESS RELEASE
The Massachusetts Institute of Technology (MIT) Enterprise Forum of the Pan Arab Region brought together regional business leaders, policy-makers, students and budding entrepreneurs from the Arab world to officially launch the sixth MIT Enterprise Forum Arab Startup Competition, in partnership with Abdul Latif Jameel Community Initiatives 'ALJ' and hosted by Oasis 500.
The annual competition, which garners more than 4,000 new business plans annually in the form of applications from across the Gulf, Levant and North Africa, kicked off from the King Hussein Business Park in Amman.
The website is now open to receive applications from ideas-stage entrepreneurs and owners of startups and will close after selecting 50 semi-finalists.
Throughout the course of the evening, the region's leading minds gathered to debate relevant business topics, while encouraging the Middle East's raising business intellects and entrepreneurs to enter the prestigious competition.
The comprehensive agenda included a key note speech from the C.E.O. of Silatech Dr. Tarik Yousef, who discussed the status of entrepreneurship and innovation in the Middle East and also stressed on the importance of such competitions in empowering the youth of the region through the financing, mentorship and overall support that such initiatives provide to young entrepreneurs. The speech was followed by a panel discussion with entrepreneurs from Egypt, Yemen, Jordan, Lebanon and Algeria, all of whom discussed their personal experience in setting up their businesses.
Commenting on the occasion, Mrs. Hala Fadel, Chair of the MIT Enterprise Forum of the Pan Arab Region, said, "This year we are proud to be launching a new format for the competition, which we designed after collaborating with the major players of the entrepreneurship ecosystem in the region, to ensure that the competition is relevant to this changing ecosystem. We will be introducing two tracks; Ideas Track and Startups Track, and, most importantly, we have reduced the waiting time for entrepreneurs so that they are informed within three weeks if they are chosen as semi-finalists. The new format also allows applicants to have a rolling application, meaning they can continue to reapply while we are still accepting applications, which gives them a higher chance of being accepted and an opportunity to improve their application."
Following the launch event in Amman on the 9th of October, aspiring entrepreneurs can enter the competition as of today and win a prize to launch their business. They are encouraged to apply as early as possible to get selected among the 50 best ideas and startups the competition is looking for. Four months of coaching by experts in the field and top-tier trainings are awaiting the selected teams.
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