Saudi Winner of MITEF Arab Startup Competition Virtual Edition 2021
A Saudi company wins first runner up in the 14th MIT Enterprise Forum Arab Startup Competition
Jeddah, Saudi Arabia, March 31, 2021: The Saudi project Genomez, winner of the third place in the ideas track in the fifth edition of MITEF Saudi Startup Competition was among the 6 winners of the 14th edition of MIT Enterprise Forum Arab Startup Competition, announced last Thursday March 25 at the virtual conference and awards ceremony that attracted over 500 attendees from all over the world.
Genomez, first runner up in the 14th MIT Enterprise Forum Arab Startup Competition, is a project of Medical Diagnostic Assays Designs PCR Tests & integrate Data science powered by Artificial Intelligence, Machine Learning technologies to multiply capacity of existing molecular laboratory infrastructure. The concept of pooling is not new, but its clinical dependability was questioned as next step if results were positive, with advancement of AI, ML technologies it became possible to tune pooling strategies based on datasets where an increase of lab testing productivity increase from 5 up to 30 folds with same infrastructure.
On the occasion, Dr Fawaz Abdulrahman Abdullah Linjawi, founder of Genomez project: “We were awarded 1st Runner Up at MITEF Arab Startup Competition 2021, which like an endorsement for us to move forward, pursuing the plan to become a potential game-changer in Molecular Based IVD Testing. The experience at MITEF Saudi Arabia Accelerator program from January 9 to 15 February was rich and intensive in exploring entrepreneurial excellence. The coaching & support, helped us refine our business model canvas, improving our company’s roadmap and pivoting our growth strategy from a linear business model into an exponential growth model – as transformative scalability was also explored.”
In his speech at the final award ceremony, Hussein Jameel, Deputy CEO of Bab Rizq Jameel stated: “The Arab Startup Competition is more than just an annual competition; it is a platform to meet and celebrate entrepreneurs in the region and their success. The participants of this competition are a perfect example of the inspirations, ambitions, and excellence that we seek to establish and achieve to become a culture rooted in youth and talents in the Arab world.”
The 9 winning Saudi teams invited to participate in the 14th edition of MIT Enterprise Forum’s Arab Startup Competition are: Hudhud Al; Nugttah and Taffi in the Startup track, as for the Ideas track, SARsat, Themar, and Genomes. For the Social Enterprise track, Ad Astra, to Cube DX, and Baleegh.
Abir Ben Bechir