50 innovative startups from all around the world participating in the Startup Investment Forum from March 4-6

Jeddah, Saudi Arabia, February 14, 2021: On the sidelines of the fifth MITEF Saudi Startup Competition, coming in a fully digital version under the patronage of the Ministry of Communications and Information Technology, the Startup Investment Forum will be launched for the second year in a row from March 4 to 6, 2021.  The forum is open to all startups from outside the Kingdom of Saudi Arabia. Those would discover the opportunities available in the Saudi market, get to learn about investors, and benefit from the insights and ideas offered by the StartSmart Conference that is held along with the forum.

The forum, which will last for three consecutive days, represents an opportunity to attract regional and international startups to the Kingdom of Saudi Arabia and allow them to present their projects and ideas to a network of investors, businessmen, and governmental agencies. By creating a kind of interaction between existing startups and potential investors, financing opportunities will also be there. In addition to 27 teams qualified for the finals of the MITEF Saudi Startup Competition fifth edition, the Startup Investment Forum will host 23 innovative startups from all around the globe that seek to enter the Saudi market.

On this occasion, Bayan Abdullah Alghamdi, Head of entrepreneurship programs & MITEF Saudi, said: “Through the MITEF Saudi Startup Competition and many of our programs that support the entrepreneurship sector, we do believe in the role startups play in enhancing economic growth. We are, thus, keen to work hand in hand with all public and private entities, such as the Ministry of Communications and Information Technology, the Ministry of Investment and the General Authority for Small and Medium Enterprises (Monsha’at), to support the goals of the Kingdom of Saudi Arabia 2030 Vision and enhance the contribution of small and medium enterprises to the gross domestic product.”

Winners of the MITEF Saudi Startup Competition fifth edition will be announced on March 6, 2021.

For more information, please visit the competition website.

Stay tuned for more news and developments on social media:

Instagram @itefsaudi

Facebook @MITEFSaudi

Twitter: @mitefsaudi

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Notes to editors about MITEF Saudi Arabia:

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 over 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.

For more information, please contact: 

Abir Ben Bechir

Email: abir@communityjameel.org