UAE and Saudi Companies seek International Investments
The MIT Enterprise Forum Arab Startup Competition, in partnership with Abdul Latif Jameel Community Initiatives, will take thirty entrepreneurs from the Arab region to Silicon Valley, USA for a week-long immersive entrepreneurship program from June 9 - 14, 2014, as part of its Global Track- an 'eye-opener' on Silicon Valley's massive resources. This new track gives the entrepreneurs the possibility to participate in premier conferences and take part in diverse workshop, mentorship, and pitching sessions with experts, industry leaders, investors and other successful entrepreneurs.
The eighteen Arab companies from the United Arab Emirates, Saudi Arabia, Lebanon, Jordan and Egypt span several different industries and include ShopGo, an eCommerce platform that offers the opportunity for offline stores to go online in just one click; Instabeat, a swimming-tracking device mounted on goggles to provide real-time feedback of performance; CardioDiagnostics, a wireless cardiac monitoring device; Wuzzuf, an online recruitment platform focused on job matching algorithms, superior UX and customer service + SaaS-like business model; and KarmSolar, that implemented the first high-capacity solar pumping solution in the Middle East & North Africa.
The highlight of the week-long events is the two-day Pan Arab Startup Showcase at MIT Technology's Review flagship conferences, The Digital Summit, which will take place in San Francisco, California on June 9 and 10, will gather leading industry experts from companies like Evernote, Expect Labs, Facebook, IBM, Intel, Kaggle, Microsoft, and more. The Startup Showcase provides a platform for conference attendees to interact with the entrepreneurs from the Arab region, provide feedback on their technologies, and build connections for potential future partnerships. Hala Fadel, Chair of the MIT Enterprise Forum Pan Arab, will present from onstage and Amr Saleh, cofounder and CEO of Integreight, will discuss how his company is developing novel hardware that will disrupt the electronic hobbyist and education markets.
"The Global Track creates a bridge between our region and Silicon Valley. The Arab companies will benefit from interaction, feedback, and connections that they will build with local VCs and successful entrepreneurs. In addition to our partnership with MIT Technology Review, we are working with leading organizations in the US such as TechWadi, Google for Entrepreneurs, Endeavor, the MIT Club of Northern California, and LebNet to accelerate and provide high impact mentorship," said Hala Fadel, Chair of the MIT Enterprise Forum Pan Arab.
Fady Jameel, President of ALJCI International commented: "It is very encouraging to see the large number of entrepreneurs travelling to Silicon Valley, testament to our talent in the region. As ALJCI we are always in support of people taking their lives into their own hands and create ways to become self-sufficient. Start-ups and innovation are the ideal way to combat unemployment. Silicon Valley is a seat of innovation, and I wish our entrepreneurs all the best in making the right connections to grow further, come back with new ideas, and in turn be able to employ more people at home in their flourishing companies."
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About the MIT Enterprise Forum of the Pan Arab Region
Founded in 2005, the MIT Enterprise Forum of the Pan Arab Region is one of the 11 international chapters of the MIT Enterprise Forum Global, an avid promoter of 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, attracting approximately 4,000 applications a year. The competition has trained over 900 entrepreneurs and has helped start more than 200 knowledge-based and technology-driven companies in Yemen, Jordan, Lebanon, Saudi Arabia, UAE, Tunisia, Egypt and others. Other activities of the Forum include the recognition of top innovators in the region in partnership with MIT's Technology Review, and the collaboration with the Kauffman Foundation to host Global Entrepreneurship Week.
About Abdul Latif Jameel Community Initiatives
In 2003 Abdul Latif Jameel Community Initiatives (ALJCI) was founded as the Corporate Social Responsibility arm of the Abdul Latif Jameel Group, the largest independent distributor of Toyota and Lexus vehicles in the world. Today ALJCI runs a considerable set of initiatives. From individual, community and Arab life as a whole in Saudi Arabia and beyond, ALJCI has the welfare of its people at heart. By promoting Arab arts and culture in the Middle East and around the world, working against the unemployment epidemic, enabling research for poverty alleviation, and providing education and training opportunities, ALJCI has successfully promoted positive social change.
ALJCI supports and partners with global institutions, which employ hundreds of people, all aiming to provide people with op¬portunities and training in the following areas:
• Job Creation - Bab Rizq Jameel
• Global Poverty Alleviation
• Arts and Culture - Art Jameel
• Education and Training - Education Jameel
• Health and Social - Social Jameel
For further information, please check www.aljci.org
© Press Release 2014
