By Startup Scene
Seedstars World, the largest startup competition for emerging markets and fast-growing startup landscapes is coming to Kuwait for the second time. With the support of the local host Kuwait Foundation for the Advancement of Sciences (KFAS), Seedstars will be holding a dynamic pitch event on Sunday November 11th at 5:30 PM. Seedstars are now open for applications until November 4th.
The companies selected to pitch at the Seedstars Kuwait City event need to be less than two years old, have raised less than $500,000 in funding and built a minimum viable product, ideally with existing traction, and regional and global scalability. After a careful screening, the Seedstars team will shortlist around ten of the best seed-stage startups in Kuwait to pitch on November 11th for the opportunity to compete at the Seedstars Summit, that annually takes place in Switzerland, for a chance to compete for a $1 million cash prize among others.
Selected startups will give a five minute pitch in English, in front of a jury made up of local startup heavyweights, followed by another five-minute Q&A session. Members of the public and press are welcome to come join.
“Since this will be our second time organising the event at Kuwait City, the stakes are high and we are very excited," says Meghan Warner, Seedstars' Regional Manager for MENA. "We’ve been in this ecosystem for more than two years now and know there are companies in Kuwait developing high-quality products. We are looking for the best and will take it with us to Switzerland in 2019.”
In order to provide local entrepreneurs with this opportunity and aiming to deliver the best possible event, Seedstars is closely working with AlGhanim Industries, KFAS, and Sirdab Lab who are representing the initiative throughout the year.
“We firmly believe in the importance of investing in youth and empowering a new generation of Kuwaiti entrepreneurs," AlGhanim Industries says in a press statement; adding that their partnership with Seedstars is a great opportunity to give innovative ideas the support and opportunity they need to propel them towards the success they deserve.
On their part, KFAS says that it's their mission to develop the human capital of Kuwait especially in the areas of science, technology and innovation; therefore their vision and mission is well-inline with those of Seedstars World. "We are investing in initiatives that encourage the youth, entrepreneurs, and small business owners to create and develop new products and services based on science and technology," the statement says. "We are very keen to grow the size of the private sector in Kuwait and we strongly believe that building its scientific and technological capacities is the way to achieve this strategic goal. KFAS’s support of Sirdab Lab to host Seedstars Kuwait City is a translation of our objective to assist in achieving the national goal of creating knowledge-based economy in Kuwait. We saw Seedstars Kuwait City initiative as a good platform for the local startup community since it has the potential to open new doors to them for international opportunities.”
It’s Seedstars’ goal to place the spotlight on entrepreneurs from emerging markets, especially those targeting solutions that align with UN Sustainable Development Goals. With that in mind, Seedstars World is travelling to more than 65 countries to identify the most innovative seed-stage startups, awarding them the opportunity to win up to $1 million and network with investors and mentors from around the world at the global Seedstars Summit in Switzerland. Its previous participants have raised over $120 million collectively, providing employment to more than 2,100 employees worldwide.
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