Terms & Conditions
Please read these competition rules carefully. If you enter our competition, we will assume that you have read these rules and that you agree to them
- The “MIT Enterprise Forum Saudi Arabia Competition” (Competition) is being run by the MIT Enterprise Forum for the Saudi Arabia region (MIT EF Saudi Arabia ).
- By entering the Competition, you hereby warrant that all information submitted by you is accurate and complete in every respect.
- Entering the Competition and accessing our website is free of charge.
- Only one entry per team is accepted
- Every competing entry must comprise at least one Saudi national. Additional eligibility criteria are listed for each of the 3 tracks (Ideas, Startups, Social Entrepreneurship)
- To enter the competition, you must apply through our website www.mitSaudicompetition.org. The steps are to 1- Select a track, 2- Sign-up, 3- Select the Language of the Application Form, 4- Fill out the application Form, and 5- Submit the application before the deadline.
- If you are selected to be a semi-finalist, we will notify you by email on the date specified in the calendar of the competition. If you do not respond within 48 hours of being notified, you will forfeit your right to compete for the second round. If you do not provide the required information needed for the next phase of the competition within the deadline specified by the management team, you will also forfeit your right to compete in the second round.
- The team composition declared in the application form must remain for the duration of the competition. However, adjustments shall be accepted.
- Semi-finalist teams must attend in person the Workshop, Conference & Final Award Ceremony held each year in a different Saudi capital. At least one member per team must attend the workshop.
- Teams are expected to work on specific deliverables required from them prior to Workshop & Conference. Each member of the qualifying team will not be paying a participation fee. The MIT Enterprise Forum Saudi Arabia will be paying all other expenses for up to one member(s) per team including Accommodation, Lunch & Coffee breaks, Ground Transportation from/to the event venue, Workshop and Conference tickets. Other members attending the event can benefit from our special rates.
- The calendar of the competition will be posted on our website, and we reserve the right to change any date at any time.
- Personal information collected about you is used for the purpose of the Competition, and will not be distributed to third parties without your consent.
Organization of the Competition
- 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
- 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.
- 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 for each of the tracks happens during the 2nd round judging.
- 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,the final round Oral Presentations are to be held in English and Arabic languages
- Information about the Final Round Judges will be available on our website as soon as the names are finalized.
- Cash prizes will be awarded to three winner teams for the Ideas, Startups, Social Entrepreneurship Tracks.
- Prize money will NOT be transferred to individuals. MITEF Saudi reserves the right to modify if they see otherwise.
- MITEF Saudi Arabia will endeavour to send prizes within a month of the competition end date but cannot guarantee this delivery time.
- MITEF Saudi Arabia reserves the right to disqualify any entry at any phase of the competition. The reasons for disqualification are breach of any of the Rules, breach of eligibility criteria, breach of any applicable law, bad conduct or offensive behavior, and application combining invalid/not serious answers.
- MITEF Saudi Arabia reserves the right to amend these Rules at any time.
- In the event of any mis-interpretation regarding these Rules, the conduct or results of the Competition, or any other matter relating to the Competition, the decision of MIT EF Saudi Arabia shall be final and unchallengeable.
- While every care is taken for the good functioning of the competition, the MIT EF Saudi Arabia will not be held responsible for any loss, damage, inconvenience, or disappointment of any kind suffered by any entrant in entering the Competition.
- The MITEF Saudi Arabia does not endorse any external linked sites and is not responsible for their content.
- MITEF Saudi Arabia reserves the right to not disclose reasons, grades and judge’s names in round 1 judging to the applicants.