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Ideas Track

Ideas Track

For entrepreneurs with innovative ideas

Eligibility Criteria for the Ideas track

• Each team should have at least two members
• Teams are not required to have a prototype, just an idea for a product or service is enough
• Similarly, teams are not required to have had any sales or have their company registered. The winners however will be required to incorporate their company in an Arab country before receiving their prize.
• The team must not have received any previous funding for the idea they are submitting
• The ideas can be in any industry

Judging Criteria

Team: The team takes up a considerable percentage of the total grade. Judges look for experience, value added, and the relevance of each team member to the project.
Innovation: The idea must be either new, or represents a marked improvement to an existing solution or a business process. Innovation does not necessarily mean technology.
Scalability: A business idea or a startup should not be limited to a local market. At a minimum, a nationwide market should be targeted. Preferably, the business should be easy to replicate regionally or globally as the company expands.

Selection of Semifinalists

20 teams of the Ideas Track will be shortlisted for the second round of the competition.

Teams are expected to work on and submit specific deliverables prior to the workshop and conference. Qualified teams are not required to pay a participation fee for any of the workshop or conference. Each of the participants is expected to pay for their own flight ticket. The MIT Enterprise Forum Pan Arab will be paying all other expenses for up to two members per team, including accomodation, lunch and coffee breaks, ground transportation to and from the event venue. Other members attending the event can benefit from our special rates.

Prizes

Three winning teams will be selected to receive cash prizes: $15K for first place, $10K for second place, and $5K for third place. Beside prize money, all qualifying teams would be benefiting from top tier training, coaching, mentorship, and great networking opportunities.

For more info about the Application Form, Selection of the qualifying/winning teams, and the disbursement of prizes, carefully read the Terms & Conditions.