Layan Damanhouri

Saudi Gazette

JEDDAH — Bab Rizq Jameel, in partnership with MIT Enterprise Forum, has announced the launch of the second edition of the “Arab World Meets Silicon Valley” program.



The program offers entrepreneurs in the Arab region an opportunity to benefit from world-class training from the industry’s leading experts, as well as the possibility to secure investment in their companies. Fifteen companies will be selected to travel to Silicon Valley, US, to take part in the program that will run from Sept. 20 to 27 as part of the Arab Startup Competition’s Global Track.



Hala Fadel, MIT Enterprise Forum chair, said in a press release: “The Global Track creates a bridge between our region and Silicon Valley.



We are running the program for the second consecutive year with the support of Techwadi, LebNet, Google for Entrepreneurs and other leading organizations in the US.”



She added that qualifying Arab companies would benefit from live interaction and connections with successful entrepreneurs.



Founded in 2005, the MIT Enterprise Forum of the Pan Arab Region is one of the 28 international chapters of the MIT Enterprise Forum Global, advocating entrepreneurship and innovation worldwide.



The MIT Enterprise Forum-Pan Arab has a proven record in promoting MIT-style entrepreneurship by organizing the MIT Enterprise Forum Arab Startup Competition each year, in partnership with Abdul Latif Jameel Community Initiatives, targeting 22 countries of the Arab region and attracting approximately 4,500 applications.



Fady Jameel, president of Abdul Latif Jameel Community Initiatives International, said: “At Community Jameel, we are continually impressed with the quality of entrepreneurial initiative in the Arab region and we are always keen to support it – whether through education, training, mentorship, creating links, or opening doors for investment. The Global Track of the MIT Enterprise Forum Arab Startup Competition allows connections to be made between this talent and the hub of innovation that is Silicon Valley. We very much look forward to receiving applications for this year’s competition and we are confident that we will continue to provide unimaginable opportunities for some of the best creative talent in our region.”



Last year’s participants included companies from the United Arab Emirates, Saudi Arabia, Lebanon, Jordan and Egypt, and represented different industries and a wide variety of creative entrepreneurial projects.



Participants will have the chance to meet industry leaders and investors and attend forums by experts. Entrepreneurs will present their company profiles at the Arab Pavilion at the TechCrunch Disrupt San Francisco conference, which hosts venture capitalists and entrepreneurs from around the world.



Participants can also receive live feedback and potential investments from investors. Other events include meetings with top mentors, workshops and attending the Techwadi Forum.



Eligible companies must be legally registered for at least two years, have a global reach, and generate at least $500,000 annually.