For entrepreneurs with innovative ideas
- Each team should have at least two members
- Teams are required to have a proof of concept for their idea
- Teams are not required to have a prototype
- Similarly, teams are not required to have had any sales or have their company registered. The winners however will be required to incorporate their company in an Arab country before receiving their prize
- The ideas can be in ANY industry
SELECTION OF SEMIFINALISTS
ROUND 1 JUDGING PROCESS
- In Round 1, applications are accepted in English, French, and Arabic
- In Round 1, each application is graded by at least 2 different judges. Judges place more importance on certain criteria, depending on the track you are applying for (Judging criteria below)
- In Round 1: 20 semifinalists teams are selected for second round of the Ideas track. These teams will have scored the highest average score on their application forms
- MITEF Pan Arab reserves the right to modify the number of selected teams
- To be eligible for Round 2, the semifinalists teams must submit certain deliverables that will be communicated with them in due time. The semifinalists teams must also sign the “intent of incorporation” form. All members whose names are mentioned as part of the team must sign the form.
- Semifinalists Teams are expected to work on and submit specific deliverables prior to the workshop and conference. Qualified teams are not required to pay a participation fee for any of the workshop or conference. Each of the participants is expected to pay for their own flight ticket. The MIT Enterprise Forum Pan Arab will be paying all other expenses for up to two members per team, including accommodation, lunch and coffee breaks, ground transportation to and from the event venue. Other members attending the event can benefit from our special rates
ROUND 2 JUDGING PROCESS
- In Round 2, the selected semi-finalist teams are required to attend a pre-boot camp, the final award ceremony and conference. The pre-boot camp training is led in English. At least one of the team members who will be attending the workshop must be fluent in English
- The semi-finalist teams are required to pitch in front of a Round 2 jury panel during the 2 day final event where they will have 3 minutes to present/pitch, followed by 7 minutes of Q&A
- The oral presentations of the final round should be delivered in English.
- After the oral presentations of the second round, the jury will deliberate and select 10 finalist teams that qualify to the final round of the Ideas track
FINAL ROUND JUDGING PROCESS
- In Round 3, the finalists teams are required to pitch in front of a Final Round Jury panel where they will have 3 minutes to present, followed by 7 minutes of Q&A
- The oral presentations of the final round should be delivered in English
- After the oral presentations of the final round, the jury will deliberate and select the three winners of the Ideas track
- Team: The team takes up a considerable percentage of the total grade. Judges look for experience, value added, and the relevance of each team member to the project
- Innovation:The idea must be either new, or represents a marked improvement to an existing solution or a business process. Innovation does not necessarily mean technology
- Financial Sustainability: The project should be demonstrate the ability to be financially sustainable on the long term.
- Scalability: A business idea or a startup should not be limited to a local market. At a minimum, a nationwide market should be targeted. Preferably, the business should be easy to replicate regionally or globally as the company expands
The three winning teams will receive cash prizes:
- $15K for first place
- $10K for second place
- $5K for third place
Beside the prize money, all qualifying teams would be benefiting from top tier training, coaching, mentorship, and great networking opportunities.
For more info about the Application Form, Selection of the qualifying/winning teams, and the disbursement of prizes, please carefully read the Terms and Conditions.