MIT Arab Business Plan Competition

The MIT Arab Business Plan Competition is the first of its kind in the Arab world. The Competition is designed to encourage all entrepreneurs in the region to start their own company and, ultimately, create a nest of leading firms in the Arab world. It also brings to the Arab world all the MIT expertise in entrepreneurship and in running such competitions.

The equivalent of the MIT Arab Business Plan Competition in Boston is called the MIT 50K Entrepreneurship Competitions and has created a number of leading firms and thousands of jobs.

(AAA note: Please note this event is organized by the MIT Enterprise Forum of the Pan Arab Region)

HOW TO APPLY:
Teams interested in joining the Competition must secure a username and password per team by clicking on the “Apply Now” button on the home page of the website. The website will be open for registrations starting Monday, November 10, 2008. Using their credentials, users are required to fill the online application form consisting of 16 questions that summarize their business idea and the means of implementing it. The application is available in English language only and should be filled in English too.

The user may save the application as many times as necessary to fill it. Once duly completed, the application will be considered for grading by pressing the “Submit” button.

The deadline for submitting the applications is Thursday, January 8, 2009 at 23:59, Beirut time.

AWARDS:
The winner of the Competition will receive prize money of USD 50,000. The check will be issued in the name of the company. , the members of the winning team will be given the opportunity to attend the MIT Global Startup Workshop (GSW).

The first and second runner-ups will receive a check of USD 10,000 and USD 5000 respectively.

Besides the financial reward, the winning teams will be provided with coaching/mentoring from the members and network of the MIT Enterprise Forum who will also help the winners get their businesses up and explore further funding opportunities by introducing them to business development centers, financing institutions, and similar organizations.

For more details on the competition and eligibility to apply see:  http://www.mitarabcompetition.com/