Application for the MIT Enterprise Forum Arab Start-up Competition is closed, with less than a month left for the winners to be announced. Organized in partnership with Abdul Latif Jameel Community Initiatives, 50 semi-finalist teams from across the Arab region have been selected to gather in Cairo, Egypt, for the final round. The winners will be announced on May 22 after the final round which involves a three-day workshop that will start on May 20. Over 150 entrepreneurs will practice their pitches, receive one-to-one coaching and pitch their projects during the networking events. They will receive immediate feedback at the American University in Cairo. Sixty percent of the semi-finalists are entrepreneurs, who are in the start-up stage of their businesses, while the remaining 40 percent are at the "idea stage" and in the process of developing working prototypes. At least 80 percent are technology start-ups, spotting opportunities in the fields of education, healthcare, energy, and creativity. Another 20 percent have a social theme as a significant component of their business plans. Fifty-seven percent of the participating teams have at least one female member, out of which 47 percent play a leading role. This year's semi-finalists hail from several countries, majority of whom came from Egypt, the United Arab Emirates (UAE) and Saudi Arabia. A significant number came from Lebanon, Jordan, Algeria, Palestine, Bahrain, Morocco, Tunisia, Qatar and Sudan. “Besides the hands-on training given by experts, the event in Egypt is about providing our entrepreneurs with visibility, connecting them with the regional ecosystem, and opening doors for them,” says Hala Fadel, chairman of the MITEF Pan Arab. “We are thrilled to have such a diverse pool of entrepreneurs from the Pan Arab region who will meet to network, learn and share knowledge,” he added. “At ALJCI, we firmly believe in empowering young people to make a living for themselves. Entrepreneurship is a fantastic avenue to achieve this and encourages creative thought, an essential life skill," said Fady Jameel, president of ALJCI International. "We are encouraged by the high number of participants this year, proving the existing talent pool in the Middle East that has been waiting for a chance to be revealed and we are happy to be able to provide them a platform with this competition to move ahead.” The awarding ceremony will take place on May 22, at 6 p.m., at the American University in Cairo. Keynote speaker will be Bill Aulet, managing director of the Martin Trust Center for MIT Entrepreneurship at Massachusetts Institute of Technology (MIT) in Boston, USA. Aulet has taught thousands of entrepreneurs in the past decade and is the author of the book "Disciplined Entrepreneurship: 24 Steps to a Successful Startup" which has sold 2,450 copies in the first week of its release. There will be three winners from each of the Ideas and the Start-ups tracks. The first place in the Ideas track will be given $15,000 and the winner of the Start-Ups Track will receive $50,000. Three women-led start-ups will be rewarded and sponsored by Google for Entrepreneurs. Another three start-ups proving the best social impact will each receive $10,000 from Abdul Latif Jameel Community Initiatives, Mercy Corps and Skoll Foundation. — SG
