From the Newsroom
São Paulo – Lebanese company DLOC Biosystems (pictured above) won the Arab Entrepreneurship Rally and was honored with a USD 50,000 prize. The winners were announced during the Arab Businessmen and Investors Conference (ABIC) last Tuesday (12) in Manama, Bahrain.
Egypt-based Smart Wheelchair came in second, winning a award of USD 25,000, while the third place was for Ghallah in Saudi Arabia, with a USD 10,000 prize. The contest was started three years ago by the Entrepreneurship Center at the Arab Academy for Science, Technology and Maritime Transport based in Egypt.
This was the fourth edition of the competition, which aims at helping young talents to create innovative projects. The prized was organized in partnership with the Investment and Technology Promotion Office in Bahrain and supported by the Bahrain Chamber of Commerce and Industry, League of Arab States, Union of Arab Chambers and Association of Arab Universities.
The Arab Rally Entrepreneurship is an opportunity for college students in the Arab world to present ideas for startups and compete for cash prizes. The competition offers an opportunity for participants to advance their communities through technological projects. The participants also get the chance to showcase their projects to foreign businesspeople and investors.
Over 750 teams from 18 Arab countries signed up to compete, and a team of judges selected a project from each Arab country that participated. The different areas of knowledges included agricultural technology, programming and apps, renewable energy resources, and smart technology.
ABIC ran from last Monday (11) till this Wednesday. The conference featured the Arab Brazilian Chamber of Commerce director Cláudia Haddad and Institutional Relations manager Fernanda Baltazar.
Translated by Guilherme Miranda