Entrepreneurship World Cup 2020 – Team UAE FAQs
FAQs for Team UAE Entrepreneurship World Cup 2020
- How many startups will be in Team UAE?
We will be picking 10 startups from across the UAE. We will then pick one national finalist to represent the country in Riyadh, Saudi Arabia during the Global MiSK Forum in October 2020 for the EWC Global Finals.
- When do I need to apply by?
Your EWC applications need to be fully submitted by August 20, 2020 in order to qualify for Team UAE.
To be considered for the Hub71 Incentive Program benefits, applicants should apply before August 2020 for the Q4 2020 cohort.
- Will I get to join the EWC accelerate 2 program?
The EWC accelerator session is for the UAE global finalist who will go on to the Global Finals. Run virtually by GEN Accelerates, the winner will receive training content provided by an array of knowledge partners as well as Misk Global Forum and the Global Entrepreneurship Network.
- When will you be selecting Team UAE?
We will start assessing all applications from startups mid-July onwards.
- When will I know if I’ve been successful in becoming part of Team UAE?
We will notify the winners in the first half of September 2020.
- When will I know if I’m the global finalist to represent the UAE?
We will be selecting the winner in September where our judges will pick the overall UAE winner to go to Riyadh.
- Do I have to apply to the Hub71 Incentive Program to be in Team UAE?
No, but you’re welcome to apply to receive those benefits, and all Team UAE startups will be shortlisted for the Hub71 Incentive Program.
- What are the benefits of the Hub71 Incentive Program?
Awarded startups will be receiving subsidized housing, health insurance and office space at WeWork x Hub71 as follows:
100% subsidy for Seed Stage Startups:
- 2 – 5 people
- $100k – $500k of capital raised
- Incentive for 2 years
50% subsidy for Emergent Stage Startups:
- Up to 25 people
- $500k or more capital raised
- Incentive for 3 years
- I’m an idea-stage startup, can I apply to the EWC 2020?
Unfortunately for 2020, we cannot accept applications from idea-stage startups. However, early-stage startups and growth stages across all sectors are encouraged to apply.
- What is the criteria for being on Team UAE?
- Building a product, establishing product-market fit and early revenue
- Has a Minimum Viable Product (MVP)
- Has not raised Post Series A
- Is initially commercializing their product/service in one or more target markets
- Has successfully incorporated/registered their venture
- Scaling customer acquisition and revenue
- Has raised Post-Series A or is generating recurring revenues (for the past three years) and experiencing sustained growth
- Showing clear, growing and measurable user / market traction in a large or rapidly expanding market
- Secured VC funding within the last three years
- If I’m in Team UAE, will I automatically get to compete at MiSK Global Forum’s EWC?
There will only be one national winner going to MiSK Global Forum’s EWC. We will be selecting that winner through the National Finals Competition at Hub71 at the end in September.
- Will the UAE winner get free flights and accommodation to go to the EWC in Riyadh?
The global finals will be held at the Misk Global Forum in Riyadh, Saudi Arabia, with finalists’ travel and accommodation costs covered by the Forum. The finalists will also benefit from a pre-finals EWC Bootcamp at the King Abdullah University of Science and Technology (KAUST). For more information on the Misk Global Forum, visit miskglobalforum.com. For more information on Global Entrepreneurship Week, visit genglobal.org/gew.
- Are there any rules to EWC that I should know about?
Yes, please read the competition rules here.