-
Can I be disqualified?
The rules of the Competition are posted online at: http://www.mitarabcompetition.com/aboutmit.php
-
Where could I find the rules of the Competition?
On an application level, the jurors and the organizing committee reserve the right to disqualify any application not complying with the Eligibility Rules stated hereafter:
- The management team should consist of at least 3 members per application entry;
- At least two members of the management team should be Arab nationals;
- The business idea should be implemented in one of the Arab world countries with the potential to grow regionally and/or internationally
On a business plan level, a disqualification occurs if:
- The structure of the Business Plan does not follow the template shared among participants during the Entrepreneurship Workshop in Beirut.
- The team fails to submit the “Engagement Letter” form.
At any level, a disqualification occurs if:
- A jury member recommends disqualification and states a logical and exceptional reason. The organizing committee needs to deliberate on the situation and the jury recommendation and make the final disqualification decision.
-
Where could I find the rules of the Competition?
In Round 1,
- Applications are submitted on-line through the Competition’s website www.mitarabcompetition.com and no other documents are required
In Round 2,
- A fully developed business plan following the recommended template
- “Engagement Letter” form dully filled and signed by all team members
- “Privacy Disclaimer” form dully signed
In Round 3,
Winning teams,
- Proof of incorporation to claim the prize money
- Request to receive the prize money
- Any other record required by the organizing committee
NOTE: All documents will be accepted if sent via e-mail
-
Who Represents the Team?
The team should be represented by at least one team member at the Entrepreneurship Workshop in Beirut and the oral presentation of the final round in Tunisia. The attendance of the remaining members is optional.
Team members whose names have been submitted to the MIT Arab Business Plan Competition represent the team. These people are listed in the “Management Team” section of the application form and/or the business plan. Usually, once the idea becomes clearer in Round 2, the team composition could be adjusted accordingly.
The organizing committee will check for inconsistencies in the names listed between the rounds and reserves the right to request information and explanation about discrepancies in the team composition.
-
What is the language of the competition?
English and Arabic are the languages of the MIT Arab Business Plan Competition.
- Applications are submitted online in English through the Competition’s website
- Business plans are submitted in English
- Oral presentations of the third round are presented in Arabic (oral presentations could be accompanied by visual aids / Power Point presentations done in English)
-
Which idea is a better idea?
All well thought of ideas are potentially good ideas. The MIT Arab Business Plan Competition is seeking serious entries across all industries. While grading the application, jurors will take into consideration:
- Innovation:
Innovation is not necessarily always a new invention; innovation could be solving an existing problem using a new way.
- Scalability:
This means that the idea / project could be duplicated in other regions and countries
- Impact:
This also means growth; the idea/project needs to have the potential to grow into a big corporation or global company
-
Who is allowed to present in front of the final jury?
At least one member of the Management Team, whose name is mentioned in the “Engagement Letter” form, represents the team at the oral presentation of the final round. The attendance of the remaining members is optional. Each team has its unique style for the presentation; one or several could speak. Just remember that your team has 10 minutes to present and 20 minutes to answer questions. The organizing committee urges you to rehearse well before the presentation.
Are there any sample applications that can be of a help while composing the answers?
For that purpose we are providing you with two sample applications:
Does the MIT Arab Business Plan Competition legally protect my idea?
Yes. Our jurors are experienced professionals, who respect the intellectual property rights of the applicants. Jury members and the organizing committee will not spare any effort in exploring opportunities to provide applicants with additional support.
|
| Home
| FAQ