Saudi Gazette report

JEDDAH — Under the guidance of selected consultants and mentors, mentorship sessions supporting MITEF Saudi Startup Competition are under way.

In partnership with Olou, the permanent partner for guidance and consulting for the competition, the first session was in Riyadh and hosted by Dulani Business Center, one of the key Social Development Bank programs, supporting and advising the 45 teams who have qualified for the first stage of the competition.

Following the Riyadh leg of the orientation, the program moved on to the Abdul Latif Jameel Center for Continuous Learning in Jeddah and will go to the Aramco Center for Entrepreneurship in Dammam on Feb. 19 to continue supporting entrants.

The program focuses on a range of topics pertinent to any individual or company seeking to begin a business. Each team has been provided with mentors and guides specializing in all aspects of entrepreneurship and cover topics including the art of brainstorming, how to design business models, customer discovery, and marketing and financing. Entrepreneurs also study unique business models and inspiring entrepreneurship stories.

“Olou is happy for the ongoing partnership with MITEF Saudi Startup competition and Bab Rizq Jameel, we also thank all the mentors who volunteered their time and great experience to mentor and guide the entrepreneurs,” said CEO, Faris Alshareef. “Olou’s main mission is to develop people to be more successful whether as individuals, as a part of a corporation, or part of an organization. We are always looking for opportunities to design and implement capability development programs as they contribute to the creation of entrepreneurs – empowering practical skills and enhancing the quality of projects and ideas.

“This phase of the MITEF Saudi Startup competition is very important as it helps prepare the entrants for what is to come, and hopefully increases their chances of excelling and advancing to the next phase of the competition, winning over the judges, and succeeding long after the competition has ended.”

Olou presents ‘Rizq Entrepreneurship Program’ which is based on a practical methodology built on a scientific basis and experience, from which entrepreneurs benefit from direct advisory and specialized development programs.

Mohammed Yahia Hakami, executive director, International Operations and Business Development at Community Jameel, said: "We thank Olou for continued support, and recognize its commitment to the MITEF Saudi Startup competition in providing access to its network of consultants and mentors. One of Olou’s guiding principles is its commitment to building the capacity and understanding of entrepreneurs, by teaching concepts and mechanisms that are vital to the development of individuals and startups, encouraging the application of concepts important to professional development.”

The 2018 MITEF Saudi Startup competition, in partnership with Zain Saudi Arabia and Dulani Business Center, is under the theme ‘Create Your Tomorrow’ and has attracted a record number of entries.

The 45 teams qualifying in three categories — Ideas, Startups, and Social Enterprise — will face the second round of judging later this month when the 27 finalists will be announced. The winners will be announced on Saturday, March 3 in Riyadh.