SAGIA, Bab Rizq Jameel join forces to support entrepreneurs through MITEF Saudi Arabia startup competition

Jeddah – Saudi Arabia: MIT Enterprise Forum (MITEF) Saudi Arabia, part of the MIT Enterprise Forum global network, in collaboration with Bab Rizq Jameel, an initiative of Community Jameel, announced signing a new MoU with the Saudi General Investment Authority (SAGIA) under the theme "Invest in Saudi Arabia". According to the MoU, SAGIA is set to be the second strategic partner for the fourth edition of MITEF Saudi Arabia, following the joining of King Abdullah Economic City as the first strategic partner under the theme “Dream, Start, Inspire”.

Side by side with the competition's official partner, the Authority for Small and Medium Enterprises “Monshaat”, this strategic partnership with SAGIA reflects the role of government agencies in promoting the entrepreneurial environment in Saudi Arabia by providing and supporting various programs and creating a sustainable investment environment. The MITEF Saudi Arabia is a vital platform that brings together Saudi entrepreneurs and attracts a distinct quality of entrepreneurs in a variety of fields. Featuring an elite of promising startups from Saudi Arabia, the Arab countries and the world, this year's edition focuses on investing in startups by organizing Startups Investment Forum from March 5 to 7, 2020.

In this regard, Ibrahim Al-Suwail, SAGIA Deputy Governor, stated that the Authority welcomes its partnership with MITEF Saudi Arabia, which serves as an added value to a series of supportive programs to push entrepreneurship in Saudi Arabia towards a better future by supporting entrepreneurs and building their capabilities. "We continue to work with our strategic partners in the public and private sectors to turn their ideas into real promising projects", he said.

Engineer Mohamed Yahya Hakami, Executive Director, MITEF Saudi Arabia, expressed his pride in the support directed to the competition by SAGIA as well as the official partner “Monshaat”. "It reflects the keenness of MITEF Saudi Arabia in bringing together the efforts of all actors", he said.

The MITEF Saudi Startup Competition is supported by a large number of governmental and non-governmental entities such as the King Abdullah Economic City (strategic partner), King Abdullah University of Science and Technology (innovation partner), Prince Mohammad bin Salman College Business and Entrepreneurship (knowledge partner), Aero (technical partner), and EY (mentoring partner). Media partners include Entrepreneur ME, MIT Technology Review, and Destination Saudi Arabia; in addition to MIT Enterprise Forum (MITEF) Pan Arab as our regional partner.

Winners of the fourth edition of MITEF Startups Competition will be announced on March 7, 2020 at King Abdullah Economic City

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About MITEF:

MIT Enterprise Forum (MITEF) Saudi Arabia is part of a global network of chapters dedicated to the promotion of entrepreneurship and innovation worldwide. MITEF informs, connects, and coaches Saudi entrepreneurs—enabling them to rapidly transform ideas into world-changing companies. 

Founded in 2015 with the goal of promoting and enriching the entrepreneurship ecosystem in Saudi Arabia, MITEF aims to celebrate and support all potential startups and entrepreneurs in the Kingdom through Startups and Ideas Competition.

The MITEF Saudi startup competition has three tracks: Startups Track, Social Track and Ideas Track. The competition offers SAR 325,000 cash prize, in addition to workshops and training and guidance sessions supervised by specialists and experts in all economic and social sectors. The finalists will have the opportunity to participate in StartSmart, one of the MIT Global Forum’s programs which is organized before the announcement of the winners and attended by specialists from MIT University, USA. The aim of the program is to encourage, motivate and guide entrepreneurs to achieve success at the level of the three tracks: ideas, social enterprises and business enterprises through workshops and enrichment programs directly related to technology and creativity.  

As a part of the MITEF Pan Arab Region, the 9 winning teams of the MITEF Saudi Arabia Competition will be invited to participate in the MIT Enterprise Forum Arab Startup Competition.

Invest Saudi

Invest Saudi is the national investment promotion brand and platform, providing insights into the value propositions for targeted investment sectors within the Kingdom. In line with Vision 2030, Saudi Arabia aims to become a leading investment destination through diversifying its economy across different sectors. To learn more, please visit InvestSaudi.sa. 

Community Jameel 

Driven by a commitment to creativity, entrepreneurship, innovation, and youth, Community Jameel works across six major fields of development: livelihoods, the arts, education, health, climate, and evidence. Community Jameel is active worldwide by directly implementing programmes and by collaborating with major international institutions and grassroots organisations.

Community Jameel was established in 2003 to continue the Jameel family’s tradition of supporting the community, a tradition started in the 1940s by the late Abdul Latif Jameel, founder of the Abdul Latif Jameel business, who throughout his life helped tens of thousands of disadvantaged people improve their lives.

The term “Community Jameel” refers broadly to several distinct, separate and independent legal entities. Community Jameel is not itself a corporate entity, association or conglomerate run by

an overarching parent company but merely refers to a group of distinct and wholly independent separate legal entities that are collectively referred to as “Community Jameel.”

For more information, please contact:
Abir Ben Bechir,
Community Jameel International
Mobile: 971551012621+
Email: abir@communityjameel.org 

© Press Release 2020