Six Lebanese projects qualify for MIT Arab business contest

04Mar09

logoSix Lebanese projects were among the 30 top projects that qualified for the MIT Arab Business Plan Competition, which is organized by the MIT Enterprise Forum for the Arab region. In a statement to the press, the organizers of the event said the first round of the competition closed on January 22 of this year.

The forum received 1,241 applications from 17 Arab countries. A 30-member committee from 11 Arab states assessed carefully all the applications and projects for the competition.
Out of all these applications, only 30 projects were qualified to advance to the final.

Egypt managed to get seven of its projects to qualify, followed by Lebanon and Saudi Arabia with six each, three from the United Arab Emirates, two from Qatar, two from Jordan, one from Bahrain, one from Yemen, one from Palestine, one from Tunisia and one from Morocco.

Half of the qualified projects focused on technology and IT while the rest dealt with environment, health care and media.

The final results will be announced in Dubai on June 12 of this year.

MIT Enterprise Forum will grant the first-place winner a cash prize of $50,000, while the second will receive $10,000 and the third $5,000.
All of the winners will also have the chance to take part in a MIT university workshop which will be conducted by the university’s professors. – The Daily Star



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