The Intel Egypt Corporation, together with the Nile University has announced the results of year long business plan competition that would help identify and support some of the most innovative students and graduates across Middle East and North Africa, in which winning projects hailing from Egypt have been short-listed for the Intel Business Challenge MENA 2014 in Bahrain ending today.
In conjunction with UNIDO, the competition that began on August 31st ended today 3rd September. Besides Algeria, Egypt, Morocco, and Tunisia, the other part of the nine countries competing in the Bahrain finals include Lebanon, Jordan, KSA and UAE.
Intel works to foster entrepreneurship and to advance innovation to address local challenges and to provide individuals the opportunity to obtain the skills, technology and resources they need to build successful businesses that drive innovation, create employment, accelerate economic growth and have a positive impact on society. Yet, the three winning teams were amongst thousands of submissions from 16 countries initially received for the Challenge.
Participating teams received coaching and support from international experts through the support of Intel partners throughout their preparations to refine their ideas, create viable business plans and hone their presentations to attract interest and investment.
One of the winning teams was that of QEYE, an Egyptian start- up specialized in the production of Smart Quality Inspection Systems based on Machine Vision technology in which smart cameras play the role of human eye in quality inspection. Owned by Mohamed Samir, Mustafa Abdel Fattah and Kareem Hussein, QEYE is a leading company in Egypt and the MENA region that works in Machine Vision applications.
All finalists developed business plans with a strong computing technology focus based on concepts which leverage disruptive computing innovations and impacts on systemic social challenges.
Winners will get the opportunity to compete at International Competition with UC Berkley in Silicon Valley where the best engineers and scientists present how they plan to make the world a better place through their innovations and entrepreneurial skills in November 2014 for a chance to win up to $50,000.
An awards ceremony will be held to identify and reward the top four winners who will win financial prizes of the values of $7500, $5000, $2500 and $1000 respectively for first, second, third and fourth place winners.