The 10th edition of the prestigious MIT Enterprise Forum (MITEF) for the Pan Arab Region kicked off in Bahrain today, with 74 semi-finalists from 11 Arab countries competing for cash prizes exceeding $160,000.

The semi-finalists include three teams representing Bahrain in each of the competition’s three tracks: Startups, Social Entrepreneurship, and Ideas.

A press conference was held at Tamkeen headquarters at the Bahrain Chamber of Commerce and Industry, attended by senior officials from MITEF, Tamkeen, Zain, and Community Jameel, who are strategic partners of the event.

Speaking at the event, Tamkeen acting director – marketing communications Dr Abdullah Alsada commented: “As a constant enabler of the private sector, helping it to become the kingdom’s key engine for economic growth, Tamkeen is proud to take this significant role in this year’s MIT competition, which is being hosted in the Kingdom of Bahrain and coincides with its 10th anniversary in the Arab region. Tamkeen’s support for the competition stems from its belief in its ability to inspire entrepreneurs to challenge themselves and develop and present their ideas in a competitive environment, leading them to further ambitions and expansion. It is also worth mentioning how proud Tamkeen is of the 3 Bahraini teams that made it to the finals."

Zain Bahrain general manager Mohammed Zainalabedin added: “Zain is proud to support the Arab Startup Competition which fosters the spirit of entrepreneurship across the Arab region, and we are particularly proud to be hosting such a prestigious event in Bahrain for the first time ever. Zain is a firm believer in the power of innovation to drive economic and social progress, solve problems, and create exciting new possibilities, which is why we have nurtured the local entrepreneurial ecosystem for the past ten years, encouraging this country’s future thought leaders and ideas which hold the potential to potentially transform our region, and even the world.”

The semi-finalists will undergo another round of training in Bahrain and present their work over the next three days to a jury that brings together some of the Arab world’s key investors and business people. In addition to the cash prizes, the winners will also benefit from advanced training sessions, personal mentorship and guidance and excellent networking opportunities. - TradeArabia News Service