MIT Enterprise Forum and HUB71 launch MENA growth competition
MIT Enterprise Forum Pan Arab Region has announced the launch of the second edition of the Hub71 MENA Growth Competition in partnership with Hub71, one of the largest innovation and entrepreneurship enablers in the region. Building on last year’s huge success and the growing appeal of Abu Dhabi as a place for entrepreneurs to launch their businesses, we are even more confident that this year will be bigger and more impactful than ever before.
In recent years, Abu Dhabi has played an active role to encourage entrepreneurship and innovation-led initiatives across the board. Whether it was through strategic partnerships, competitions, conferences, or incentive policies, the Emirati capital aims to attract talent from around the world to launch and grow their businesses from there.
Given the current situation with the COVID-19 outbreak, the organizers have decided to design this year’s edition around an all-digital experience, allowing stakeholders from across the globe to learn about Hub71’s offerings and the impact that such programs are creating in this part of the world. The competition will award winners drawn from a pool MITEF Arab Startup Competition semifinalists of the past three editions. MITEF’s global alumni will also be able to apply and benefit from attractive incentive packages offered by Abu Dhabi’s tech ecosystem, HUb71, which includes subsidized housing, office space, and medical insurance as well as access to huge market potential and capital. Only eligible candidates will be able to apply for the competition.
Last year’s winners Addenda, Provenmed, and Furnwish have all leveraged the prizes offered by Hub71’s incentive program which includes subsidized housing, office space, and medical insurance. Relieving entrepreneurs of such financial burdens at an early stage significantly affects their potential to improve and develop solutions that truly serve the market. Our role as ecosystem enablers has always been to support entrepreneurs and mentor them throughout their journey of creating long-term businesses.
Commenting on the launch, Maya Rahal (Managing Director at MIT Enterprise Forum Pan Arab) said: “Renewing this partnership with Hub71 is yet another proof that we are doing the right thing, especially during when entrepreneurs and small businesses are struggling to stay afloat amid these strange times. Our hearts and minds are with all medical personnel and front-liners who are ensuring things continue to operate until we go back to normalcy. Our team is really excited about this challenge, particularly as it would be our first all-digital program that we design from the ground up. We hope that such initiatives will continue to inspire everyone that things will always get better and that resilience in the face of adversity will only make us stronger and capable of working together.”
Also, Nader Museitif (Head of Partnership and Business Development at Hub71) said: “We’re thrilled to be joining forces again with our partners, MIT Enterprise Forum Pan Arab, for a bigger and better second edition of the Hub71 MENA Growth Competition. Through this partnership, we’ll be offering winners the chance to join our global community which supports innovative startups with access to more funding and global market opportunities. We were pleased with the outcome of the 2019 edition and were happy to see the winners like Addenda and ProvenMed fully embracing these opportunities at Hub71. This year, with a virtual twist to our engagement, we’re back on the hunt for the best startups across the MENA region and we look forward to some great interaction.”
The organizers will be holding an online webinar on Wednesday, April 22, to introduce candidates and any interested individuals to Hub71, the competition, and all the benefits they will receive. Register here for further information and details
