Madinah, Saudi Arabia, November 17, 2021, SPA -- The MIT Enterprise Forum (MITEF) Pan Arab and MIT Enterprise Forum (MITEF) Saudi Arabia announced that the Startup Competition has already launched. This year´s cash prize will be USD 160,000 awarded to the winners from three different tracks: Ideas, Startups, and Social Entrepreneurship. Additionally, there are many benefits like the Bootcamp (top-tier training), media exposure, and most importantly the networking opportunities with world-class investors, judges, and entrepreneurs. The Bootcamp will be hosted by Taibah University, welcoming 60 semifinalist teams in Al Madinah Al Munawara on February 17 and 18, 2022. The Bootcamp will help the semifinalist teams to prepare their pitches, build their business model, develop ideas, and much more. On December 27, 2021, 60 semifinalists (20 from each track) will be selected from the pool of applications to proceed to the next steps. These teams will have the opportunity to attend the final event in Al Madinah, Saudi Arabia, during which this year’s Startup Investment Forum (SIF) will also take place. The winners will announced during the Final Awards Ceremony taking place in king Salman International Convention Center in Al Madinah Al Munawara on February 23, 2022. Applications are open for submissions until December 6, 2021. --SPA 13:28 LOCAL TIME 10:28 GMT 0008 www.spa.gov.sa/w1653086