2nd edition of the MITEF KSA Competition:

Date
Activity
Date:15 Sep, 2016
Activity:Promotion of the competition and reach out to partners
Date:6 Oct, 2016
Activity:Open website for Online Submissions
Date:Oct 2016 - Jan 2017
Activity:Roadshows in KSA
Date:4 Jan, 2017
Activity:Deadline for Submissions
Date:10 Jan, 2017
Activity:Applications Dispatch
Date:19 Jan, 2017
Activity:Submission of the grades
Date:22 Jan, 2017
Activity:Announcement of the 45 semi-Finalist teams
Date:22 Jan, 2017
Activity:Assignment of mentors and deliverables
Date:23 Feb, 2017
Activity: Mentors KSA Session & SAIB Training "Banking for Entrepreneurs" Teams ONLY
Location: Abdul Latif Jameel Center for Continuous Learning (ACCL), Jeddah
Time: 12:00pm - 5:00pm
Date:27 Feb, 2017
Activity: Mentors KSA Session & SAIB Training "Banking for Entrepreneurs" Teams ONLY
Location: SAIB Academy, Riyadh
Time: 4:00pm - 9:00pm
Date:6 Mar - 7 Mar, 2017
Activity: 2 days training bootcamp for all teams
Location: Prince Mohammed Bin Salman College, King Abdullah Economic City (KAEC)
Time: 9:00am - 4:30pm
Date:8 Mar, 2017
Activity: Open Day for pitching and practice
Location: Bay La Sun Hotel, KAEC
Time: TBD
Date:8 Mar, 2017
Activity: Round 2 judging process + Announcement of finalists
Location: Abdul Latif Jameel Center for Continuous Learning (ACCL), Jeddah
Time: 9:00am - 4:00pm
Date:8 Mar, 2017
Activity: Round 3 Judging + Startsmart Saudi Conference & Winners Ceremony
Location: King Abdullah Economic City (KAEC), Jeddah
Time: 9:00am - 9:00pm

Round 1

  • The MIT Enterprise Forum Saudi Startup Competition has 3 tracks: Ideas, Startups, Social Entrepreneurship. Each of the first 3 mentioned tracks have 3 Rounds.
  • In Round 1, teams must fill and submit an online application that consists of two sections:
    • Management Team: that accounts for 30 points of the Grade
    • Project/Startup Profile: that accounts for 70 points of the Grade
  • MITEF Saudi Arabia will endeavour to send prizes within a month of the competition end date but cannot guarantee this delivery time.
  • In Round 1, applications are accepted in English, and Arabic.
  • In Round 1, each application is graded 3 times by 3 different judges with preferences given to the following criteria depending on the track you are applying for:
    • Team: The team composition takes an important share of the grade. Judges look for experience, value add, and relevance of each team member.
    • Innovation: Creativity and improvement of existing solutions and/or business processes with respect to current competitors or compSaudile. Within this definition, innovation does not necessarily mean technology. (applies for the Ideas, Startups & Social Entrepreneurship Tracks)
    • 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 could easily be replicated regionally or globally as the company expands. (applies for the Ideas, Startups & Social Entrepreneurship Tracks)
    • Social Impact: The extent to which your project benefits the community
    • Financial Sustainability: How the social enterprise, startups and ideas are maintaining their financial sustainability on the long term
  • In Round 1,15, 15 and 15 teams are respectively selected for the Ideas, Startups, and Social Entrepreneurship Tracks. These are teams that got the highest average score on their application forms. MITEF Saudi Arabia reserves the right to modify the number of teams selected.
  • Teams will receive Coaching prior the Workshop . Details will be communicated in due time
  • To be eligible for Round 2, the semi-finalist teams must achieve certain deliverables required from them that will be communicated to them in due time (e.g. having a working prototype and securing at least one client for the Ideas Track). The semi-finalist teams must also sign the “intent of incorporation” form. All persons whose names are mentioned as part of the team must sign the form.
Idea
Startup
Date:Developing a prototype (Model or built product or service to test a concept or a process)
Activity:Submitting 2 pages executive summary
Date:Submitting 2 pages executive summary
Activity:Securing More than 1 client
Date:Securing 1 client
Activity:10-12 business plan
Date:Submitting oral presentation
Activity:Submitting oral presentation
Date:Submitting financial feasibility sheet
Activity:Submitting financial feasibility sheet

Round 2

  • In Round 2, the selected semi-finalist teams attend the Workshop, Conference & Gala Dinner. The workshop is led in English, and Arabic. Teams are required to have at least one of their team members who will be attending the workshop.
  • The selection of the Finalist teams from each tracks will happen during the 2nd round of Judging.

Round 3

  • In Round 3, the finalist teams pitch in front of a Final Jury where they will have 10 mins to present followed by 5 mins of Q&A. After the final round oral presentations, the jury deliberates and selects the top three winners for each of the Ideas, Startups, and Social Entrepreneurship Tracks.
  • In Round 3, Oral Presentations will be held in either English and Arabic language
  • Information about the Final Round Judges will be available on our website as soon as the names are finalized.

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