(MENAFN - Khaleej Times) Lebanons The Little Engineer team won this years Massachusetts Institute of Technology, or MIT, Arab Business Plan Competition, topping eight other groups from the region as one of the most promising entrepreneurs in the Middle East and North Africa region.
The competition is hosted annually by the MIT Enterprise Forum of the Arab Region, in partnership with Abdul Latif Jameel Co.
The Little Engineer was awarded with 50,000 as start-up capital during a gala event in Cairo. The team will also receive mentoring support from already-established business leaders and consultants.
Egypts BioBusiness was first runner-up, receiving a 15,000 fund. Yemens Arabic Coach and EG-Bioinformatics, also from Egypt, were declared second runners-up, both given 5,000. All these teams will also receive mentoring support.
The Little Engineer is an after-school edutainment centre that introduces kids and teens to pre-engineering courses such as robotics, physics, electricity, electronics, renewable energy and more. Students enrolling in any of the offerings will visit the centre once a week, for eight successive sessions, and closing with a competition.
The Little Engineers centre guarantees a friendly atmosphere where children can have fun while learning, and building skills with the help of qualified staff.
Taking part in the MIT Arab Business Plan Competition has enabled us to refine our entrepreneurial vision while really understanding the dedication and attention to detail required to create and manage a successful business, said The Little Engineer General Manager Rana El Chemaitelly.
We hope to help inspire our fellow entrepreneurs in the Middle East and encourage them to be a part of the 2011 competition " its been an incredible learning and development experience, he added.
The five other finalists were other finalists were IB-Interneting Behavior from Egypt; Mulch and More and Dental Vision from Lebanon; LeNO for IT and Business Solutions from Palestine; and Vastry from the UAE.
By Alvin R. Cabral