Madinah, December 12, 2021, SPA -- The MIT Enterprise Forum (MITEF) Pan Arab and in the Kingdom of Saudi Arabia has set December 27 as a date to announce 60 semi finalist teams of startups registered in the forum’s events and to compete in the penultimate stage of the competition. The qualified teams will compete in three different tracks of ideas, startups and social entrepreneurship as part of the penultimate stage of the forum that allocated financial awards for winning teams, in addition to supporting winners in training fields and benefiting from opportunities of communication and building up relations with a network of businesspeople, financers and investors. Secretary General of Madinah Chamber Eng. Abdullah Abu Al-Nasser stressed the chamber’s support for MIT Forum Competition to be partner in the competition whose closing ceremony will be held in Madinah in February 2022, adding that this partnership is based on the chamber’s role in stimulating and developing businesses and the growth of economies in Madinah region, as well as empowering business entrepreneurs, supporting owners of projects and distinguished ideas, attracting investors to invest in Madinah, and developing the business sectors in the region to match with the targets of the Saudi Vision 2030 in a bid to make Madinah a regional, technological and innovative hub. He pointed out that the competition will also contribute to building and enhancing the culture of entrepreneurship, and providing local and regional job opportunities, in addition to its being an opportunity for participants to communicate, build relations, train, receive guidance and secure funds. --SPA 15:54 LOCAL TIME 12:54 GMT 0015 www.spa.gov.sa/w1664005