Egyptians Winning First Prizes In All Three Tracks of MIT Arab Startup Competition

Three Egyptian teams won the first prizes in all three tracks of the 10th MIT Enterprise Forum Arab Startup Competition.

The competition was held in Bahrain this year, with teams from across 11 Arab countries competing across three tracks: startups, social entrepreneurship, and ideas. Egyptian teams won first prize in all the three tracks.

MoneyFellows, online group savings and lending platform, won the first prize in the startups track. The Egyptian winner startup received US$50,000 prize money.

While Kiliim, the Egyptian social enterprise and a lifestyle brand that aims to revive and sustain the local craft of handmade kilim making in Egypt, won the first prize in the social entrepreneurship track. Kiliim also received US$50,000 prize money.

And finally in the ideas track, the first winner was the augmented reality app development startup Blink. It was awarded US$15,000 as first prize.

The 3 Egyptian winning teams at MIT

As two runners up were selected across each track, the 2nd runner up in the ideas track was also Egyptian team: NanoGreen Hub and it received US$5,000.

Aside from the monetary rewards, the talented winners will also receive advanced training sessions, personal mentorship and guidance, as well as receiving a great deal of media coverage and excellent networking opportunities.