Cairo to host $50K-prize entrepreneur contest
Massachusetts Institute of Technology (MIT) - logo
By AHMED ABU SHADY

CAIRO: The Enterprise Forum for the Arab Region will be organized in Cairo from May 20-22 in cooperation with Abdul Latif Jameel Community Initiatives and M.I.T.

In the competition, 50 teams of entrepreneurs from across the Arab World will compete to be chosen as the best enterprises of the year, with three finalists winning $50,000.

The 50 final teams were chosen from 150 competitors who pitched their projects during networking events. The applications and pitches were assessed at the American University in Cairo. Sixty percent of the competitors are already in the start-up stage of their businesses, while the remaining 40 percent are still developing working prototypes. Eighty percent of the chosen pitches are projects dealing with education, healthcare, energy and creative sectors, while the remaining 20 percent deal with business plans and prototypes.

M.I.T. is one of the largest research and teaching centers in the world, and frequently regarded as the best university in the U.S. The ALJCI was founded as the community services arm of the ALJ Group to run initiatives from individuals and communities in the Arab World.

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