Registration open for 4th MITEF Saudi Startup Competition

Updated 04 October 2018
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Registration open for 4th MITEF Saudi Startup Competition

The Massachusetts Institute of Technology (MIT) Enterprise Forum Saudi Arabia, a chapter of the MIT Enterprise Forum (MITEF) Global in collaboration with Bab Rizq Jameel, the Community Jameel Initiative, has announced that registration is open for its fourth annual Saudi Startup Competition. 

This year’s edition will be held under the slogan “Challenge Yourself” and aims to nurture entrepreneurship and stimulate entrepreneurs in the Kingdom to contribute effectively to achieving the goals of Saudi Vision 2030.

Registration for the fourth edition of the competition opened on Sept. 24 and will continue until Dec. 25. Saudi and non-Saudi entrepreneurs from all age groups and business sectors may apply through the competition website, in one of the three categories: Ideas Track, Startup Track and Social Enterprise Track. The Ideas Track aims to help creative and scalable ideas with the potential by offering effective business and social solutions.

The Startup Track targets registered companies which have impact, have experienced teams and are scalable. The Social Enterprise Track, in collaboration with the King Khalid Foundation, recognizes successful social enterprises.

Speaking on the opening of registration, Fady Jameel, president of Community Jameel International, said: “We are eagerly awaiting the new edition of the MITEF Saudi Startup Competition and the upcoming group of Saudi entrepreneurs and talent. This event provides knowledge, networking and training for entrepreneurs. We invite all Saudis with creative ideas or enterprises to register in the competition to receive mentoring, meet high-profile speakers from the region and beyond, network with potential partners and win one of the cash prizes.”

He said: “This competition will challenge the fears that entrepreneurs have when they begin to make their dreams come true by starting up or expanding their businesses.”

Winners will receive funding of SR325,000 ($86,679). In addition, the participants will engage in workshops, training and mentoring sessions presented by business and social enterprise leaders. The nine winning teams will be invited to a further training course and to participate in the 12th MITEF Arab Startup Competition.

 


AHG denies link with Al-Habtoor Trading Enterprises

Updated 16 January 2019
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AHG denies link with Al-Habtoor Trading Enterprises

Al-Habtoor Group (AHG) has clarified that the group and all its divisions, including Habtoor Hospitality (Habtoor Hotels) have no link or relationship of any kind with Al-Habtoor Trading Enterprises (HTE) and its owner Rashid Al-Habtoor.

This is following news released in major Indian and Middle Eastern media about a potential acquisition of the Leela Group of Hotels in India (Hotel Leela venture) by Rashid Al-Habtoor, founder and owner of Al-Habtoor Trading Enterprises.

A spokesperson for Al-Habtoor Group said: “We feel obligated to clarify that Al-Habtoor Group in all its divisions and Al-Habtoor Trading Enterprises are two separate entities. Habtoor Hospitality, commonly known as Habtoor Hotels, is owned solely by Al-Habtoor Group in the UAE and overseas.”

“... Any actions or business decisions taken by Al-Habtoor Trading Enterprises or any of their associates are their sole responsibility, and Al-Habtoor Group is not liable under any circumstance for any damages or liabilities arising directly or indirectly from Al-Habtoor Trading Enterprises business ventures.”