MIT Enterprise Forum Arab Startup Competition (ASC) is a yearly competition initiated by the MIT Enterprise Forum Pan Arab since 2006. This annual competition is designed to empower entrepreneurs and foster an eco-system of innovation and entrepreneurship in the Arab Region. ASC pits entrepreneurs in three different tracks: Ideas, Startups, and Social Entrepreneurship Track. The winning teams are awarded 160K USD in an equity-free fund and benefit from a range of other activities including top tier training, mentorship, coaching, media exposure, and great networking opportunities.

The  MIT Arab Startup Contest is open in three tracks: (i) Idea (ii) Startup and (iii) Social Entrepreneurship. The Idea track is open for participants with an innovative concept that is scalable in the long run. Further, the Startup and Social Entrepreneurship track are for the participants who are running a Startup. However, these startups haven’t generated sufficient revenue.

Why participate in the MIT Arab Startup Competition?

The winner of the 2020 MIT Arab Startup Competition will receive an equity-free cash prize of $160,000. Further, the MIT Enterprise Forum Pan Arab is an opportunity to expand the professional network as well as gain insights from established entrepreneurs.

• Top Tier Training
• Mentorship
• Media Exposure
• Networking Opportunities
• Equity Free Prize Money

Eligibility for the Arab Startup Competition

Participants are eligible for either of the three tracks in the MIT Arab Startup Competition if they meet the eligibility criteria.

Ideas Track

• At least two members
• Proof of concept and Prototype
• Validate the business model as well as a clear plan to grow
• Also, have a mentor/industry expert
• Should be in Tech or Digital industry

Startup/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 or Digital industry
• Additionally, for Social entrepreneurship track, the startup must be addressing a social challenge.

How to apply for the MIT Arab Startup Competition?

In order to apply for the 2020 MIT Arab Startup Contest, participants will need to complete the online registration process. Since the participants can only apply in one track, the participants must be sure which track is most suitable for them.  Further, there is a separate application form for all three startup track:

• Ideas Track
• Startup Track
• Social Entrepreneurship Track

Deadline

MIT Enterprise Forum Pan Arab will accept the application for the Arab Startup Competition until 10 December 2019. However, applications arriving after the deadline are ineligible for participation.