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