MITEF announces top Saudi entrepreneurs

MIT Enterprise Forum winners were selected from among 2,200 entrants this year.

MIT Enterprise Forum (MITEF) Saudi Arabia has announced the winners of the three tracks in the MITEF Saudi Arabia competition, during the final ceremony of the competition held on Saturday.
Startup track first place winner Madad Services LLC received SR100,000; runner-up iBoat received SR25,000; and second runner-up Nushmi Services received SR15,000.
Social Enterprise first place winner Tadweer received SR100,000; runner-up Banafsajeel received SR25,000; and second runner-up Ketaby Lak Application received SR15,000.
Ideas first place winner Aquaponica won SR20,000; runner-up Stitches False Wall received SR15,000; and second runner-up Packageha won SR10,000.
All nine teams will now advance to the 10th MITEF Pan Arab competition, which will be held in Bahrain next month.
The winners were selected from among 2,200 entrants this year. The judging panel comprising business experts and academics from Saudi Arabia and beyond assessed their business models according to the contest criteria.
MITEF Saudi Arabia was established in 2015. It is part of the MITEF Global network of chapters dedicated to promoting entrepreneurship and innovation worldwide, and to provide knowledge, communication, and training for entrepreneurs, enabling them to quickly turn ideas into world-changing companies.
Now in its second year, the event was organized by Community Jameel’s Bab Rizq Jameel initiative and Zain Saudi Arabia.
The closing ceremony was hosted by King Abdullah Economic City (KAEC) under the auspices of the Small and Medium Enterprises Authority (SMEA).
Sarah Ghaleb, senior general manager, education and entrepreneurship initiatives at Community Jameel, and project manager of the program, praised the role of government organizations and private companies in supporting entrepreneurship.
“The slogan of MITEF Saudi Arabia is ‘You are Tomorrow’ because when we create new entrepreneurs we contribute to developing the solid foundation for tomorrow’s economy — a strong economy that is based on new innovative ideas, discovering new resources, creating jobs, and trying to provide innovative technology, industries, and products.”
Sultan bin Mohammed Al-Shahrani, chief human resources officer at Zain Saudi Arabia, said: “Zain believes in the importance of investing in young entrepreneurs, and being a strategic partner in the MIT Enterprise Forum competition is strong proof of that. We are committed to playing our part in delivering Saudi Vision 2030 by providing the latest services in telecommunications, as well as investing in Saudi talent.”