Timeline

• The MIT Enterprise Forum Saudi Startup Competition has 3 tracks:  Ideas, Startups, Social Entrepreneurship.  Each of the first 3 mentioned tracks have 3 Rounds.
• In Round 1, teams must fill and submit an online application that consists of two sections:
  • Management Team: accounts for 30 points of the Grade
  • Project/Startup Profile: accounts for 70 points of the Grade
• In Round 1, Applications are accepted in English and Arabic.
• In Round 1, each application is graded 3 times by 3 different judges with preferences given to the following criteria depending on the track you are applying for:

Team	The team composition takes an important share of the grade. Judges look for experience, value add, and relevance of each team member.
Innovation	Creativity and improvement of existing solutions and/or business processes with respect to current competitors or comparable. Within this definition, innovation does not necessarily mean technology.
Scalability	A business idea or a startup should not be limited to a local market. At a minimum, a nationwide market should be targeted. Preferably, the business could easily be replicated regionally or globally as the company expands.
Social Impact	The extent to which your project benefits the community ( for Ideas and Startups who are interested in social enterprise track)
Financial Sustainability	How the social enterprise, startups and ideas are maintaining its financial sustainability on the long term (applies to both for-profit and non-for-profit social enterprises)

 

• In Round 1, 15, 15 and 15 teams are respectively selected for the Ideas, Startups, and Social Entrepreneurship Tracks. These are teams that got the highest average score on their application forms.  MITEF Saudi Arabia reserves the right to modify the number of teams selected.
• Teams will receive Coaching prior the Workshop. Details will be communicated in due time
• To be eligible for Round 2, the semifinalist teams must achieve the certain deliverables required (see following table). The semi-finalist teams must also sign the “intent of incorporation” form.  All persons whose names are mentioned as part of the team must sign the form.

Idea	Startup
Developing a prototype (Model or built product or service to test a concept or a process)	Submitting 2 pages executive summary
Submitting 2 pages executive summery	Securing More than 1 client
Securing 1 client	10-12 business plan
Submitting oral presentation	Submitting oral presentation
Submitting financial feasibility sheet	Submitting financial feasibility sheet