5 Saudi startups qualify for the Entrepreneurship World Cup, the $5 million competition

MAGNiTT News 1 year ago - Mon, Jul 8, 2019, 7:03 AM

5 Saudi startups qualify for the Entrepreneurship World Cup, the $5 million competition
Author: MAGNiTT

The Saudi regional contest of the Entrepreneurship World Cup has concluded, and five exciting startups have qualified for the global competition. Each of these startups has received a cash prize of $50,000 and will get a shot at winning $5 million at the international tournament.

All five startups were founded by graduates of the King Abdullah University of Science and Technology (KAUST) entrepreneurship program. The winner list included: DHAD audio books in Arabic; Fahim, a platform for teachers and students to connect with each other; Red Sea Farms, a desert agriculture technology; Sadeem, a flood management, traffic control and air quality startup, and telemedicine platform Cura.

“Seeing these technological innovations is impressive,” said Dr. Kevin Cullen, KAUST’s vice president of innovation and economic development. “It is an indication of the great appetite for entrepreneurs and companies to promote innovation.”

The organizers of the competition are Misk, a foundation set up by Crown Prince Mohammed bin Salman, and the Global Entrepreneurship Network. The Misk foundation was established in order to empower the Saudi Youth, and the regional event of the Entrepreneurship World Cup is a cherry on top of its brilliant initiatives. For the final event, over 100,000 international participants will compete for 3 grand prizes, 15 finalist stage prizes and 100 national prizes.

The winners will also receive investment opportunities and mentorship along with cash prizes. The final is scheduled to take place during the Misk Global Forum in Riyadh, in November.


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