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MITEF ¶¶Òõ¶ÌÊÓƵ, part of the MITEF global network, has announced the winning teams at the finals of the MITEF Saudi Startup competition.
Participants were competing in three tracks — Startup track, Social Enterprise track, and Ideas track. The winners were:
l In the Startup track, the first prize went to Quantum Solutions, with Avokado taking second prize and Ironix third. Quantum Solutions received SR100,000 ($26,666), with second place receiving SR25,000, and third SR15,000.
l Labayh took first prize in the Social Enterprise track, with Aquaponica second and Blooming Bs third. The first prize winners received SR100,000, SR 25,000 for second place, and third place SR 15,000.
l In the Ideas track, first place was awarded to Duleb, with Cucumber second and Qisma third. The first prize winner received SR20,000, with second and third taking SR15,000 and SR10,000 respectively.
The nine top-placing participants have now won the right to participate in the 11th MITEF Pan Arab competition, which will be held in Oman in April, where the best entrepreneurial ideas from across the region will be showcased.
During her welcoming speech, Sarah Ghaleb, senior general manager of education and entrepreneurship initiatives at Community Jameel, expressed her delight at hosting a selection of national and international guests, investors and entrepreneurs at the final event of the MITEF ¶¶Òõ¶ÌÊÓƵ. She said this is the third year a new generation of Saudi entrepreneurs have shown their work in the field of ideas, startups and social enterprise.
The Saudi StartSmart conference was also held as part of the finals event, where distinguished speakers such as Princess Banderi Al-Faisal, chief executive officer of King Khalid Foundation, encouraged local entrepreneurs to keep developing successful social and commercial ideas and projects.
The MITEF Saudi Startup competition is staged by MITEF in partnership with Bab Rizq Jameel (a Community Jameel initiative), Zain ¶¶Òõ¶ÌÊÓƵ, and Dulani Business Center.
The closing ceremony was held in Riyadh on March 3. The event was attended by Majid bin Abdullah Al-Qasabi, minister of commerce and investment, as well as prominent Saudi and Arab figures, investors, entrepreneurs, and media representatives.