Saudi startup among winners of MITEF competition

Among the winners of the virtual Arab Startup Competition was the Saudi platform Telp, founders of which went home with a monetary prize and several opportunities for growth.
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Updated 29 June 2020

Saudi startup among winners of MITEF competition

MIT Enterprise Forum (MITEF) Pan Arab has announced the six winners of the 13th edition of its Arab Startup Competition. Among the winners was the Saudi platform Telp, winner of the fourth annual edition of MITEF Saudi Startup Competition.

Telp is a tutor marketplace with high quality, vetted tutors, designed for busy parents that seek continuity in tutoring services through weekly lessons. During the pilot launch, more than 9,000 hours of tutoring were conducted worth over $182,000. Telp is now ready to start its regional expansion and has started operations in Riyadh.

The Arab Startup Competition, held in partnership with main partner Community Jameel, innovation partner King Abdullah University of Science and Technology, and digital partner Zain Group, ensured that attendees would benefit from a digitally immersive experience that closely emulates attending a real-life event. The virtual conference was attended by 400 attendees from 40 countries globally, who had all come to network, connect, and learn from the world’s most renowned tech speakers. The conference culminated with the announcement of the six winners (from Saudi Arabia, Lebanon, Egypt, Palestine, Syria, and Jordan), each going home with a monetary prize and several opportunities for growth.

Hussein Jameel, director of Community Jameel, addressed the entrepreneurs, saying: “You are the cornerstone of the world of entrepreneurship, and the real capital is your talents, capabilities and skills that we seek to support through the Arab Startup Competition and other initiatives of Community Jameel. We have been always striving to turn your creativity into startups that have today become one of the main pillars of the Arab world economies of both the developed and developing countries, not only because of their economic impact, but also for their social influence as a tool to tackle unemployment and other challenges.”

The virtual conference and awards ceremony this year marks a new turning point, especially being MITEF Pan Arab’s first fully-digital conference. The virtual event created unforeseen challenges to the organizers and endless opportunities to experiment and innovate.

MIT Enterprise Forum Arab Startup Competition is a yearly competition initiated by MITEF Pan Arab since 2006. This annual competition is designed to empower entrepreneurs and foster an ecosystem of innovation and entrepreneurship in the Arab region. The competition pits entrepreneurs in three different tracks: Ideas, startups and social entrepreneurship track. The winning teams are awarded $45,000 in equity-free funds and benefit from a range of other activities including top-tier training, mentorship, coaching, media exposure, and great networking opportunities.


Virtual BMG forum to spotlight Saudi investment

Updated 07 July 2020

Virtual BMG forum to spotlight Saudi investment

More than 20 high-level Saudi government representatives and 15 local and international CEOs will bring to light post-pandemic investment opportunities in Saudi Arabia at the 2020 BMG Economic Forum, which will go virtual this year.

The forum, with a 25-year history, will be held on July 15 from 2 p.m. to 8:45 p.m. KSA time.

The forum is organized by BMG Financial Group and its CSR arm, BMG Foundation, and is part of the BMG Summer Retreat, which always takes place in the UK and also hosts a polo match, with the presence of Saudi and British royals among participants.

“In the wake of the coronavirus outbreak, the Saudi economy needs foreign investment more than ever,” said Basil Al-Ghalayini, chairman and CEO, BMG Financial Group. “Saudi Arabia is on a journey of economic diversification, which offers many investment opportunities, and international investors have for several years been encouraged by the clear direction that Vision 2030 offers as well as by the huge improvement in the prestigious annual world competitiveness rankings by the Swiss IMD.”

Explaining the role and purpose of the 2020 BMG Economic Forum, Al-Ghalayini said: “Now that we are focused on post-pandemic recovery, the international investor community is keen to get a comprehensive update on the Saudi economy as well as on key industries — those that are the pillars of the transformation of the Saudi economy. Therefore, the timing of the annual BMG Economic Forum has never been better, and we are proud to host a very prestigious lineup of speakers and welcome over 500 participants.”

The recently launched tourism development fund and the opportunities for accelerating the recovery will be a leitmotiv for the virtual BMG Economic Forum this year. Saudi government officials and local and international business executives will discuss the investment opportunities for foreign investors and Saudi organizations.

In the tradition of BMG Foundation Classics’ charitable summer concerts in London, the foundation will this year unite an orchestra with musicians representing the G20 countries, including musicians from Nova Orchester Wien. The concert will be broadcast live digitally from Ehrbar Hall in Vienna, Austria, at the end of the BMG Economic Forum.

Reflecting international cooperation within the G20 group of nations, 20 young musicians will come together to play a concert of Eastern and Western music, conducted by Maestro William Garfield Walker, a young American conductor based in Vienna. The program features music composed by Syrian-Argentinian composer Diego Collatti, including traditional Arabic music, arranged specially for this concert, in the classical tradition of Western music.

Other sectors and themes featuring on the forum agenda include: The new mining law, what is next for Saudi capital markets, energy, international supply chains and food security strategy revisited.

The confirmed speakers include: Bander Al-Khorayef, Saudi minister of industry and mineral resources; Stephen Groff, governor, Saudi National Development Fund; Dr. Frank Appel, CEO, Deutsche Post DHL Group; Paddy Padmanathan, president and CEO of ACWA Power; Dr. Ali Parsa, founder and CEO of Babylon Health; Ali Alireza, managing director, Haji Husein Alireza and Co. Ltd.; Reema Al-Asmari, CEO, corporate and investment banking KSA, Natixis; Richad Soundardjee, CEO, Societe Generale Middle East; Nicholas Naples, CEO, Amaala; and Khalid Al-Hussan, CEO, Tadawul and Hussain Shobokshi, Businessman, Consultant and Columnist.

 

The prominent speakers will also cover topics such as privatization, partnerships and digitization in health care and sustainable investment trends.