Riyadh, Saudi Arabia – November 9 – After five days of intense competition showcasing the top 100 startups from 52 countries and territories, three innovative companies have emerged as champions of the 2024 Entrepreneurship World Cup. Each winner will receive a share of USD 1 million in cash prizes for their respective categories.
In the growth stage category, MisMar (Saudi Arabia), an automotive tech startup reshaping the car after-sale market, won the top $200,000 prize.
Yumari (Mexico), a cross-border on-demand platform connecting global businesses with Latin American producers and manufacturers, received a $100,000 first-place prize in the early-stage category.
The idea stage champion, Nomiq (Armenia) wins $50,000 to take their company to the next level. The company offers an AI-driven, low-code platform that leverages domain-driven design (DDD) principles to revolutionize software development.
“These founders and their teams are bold problem solvers making a positive impact on a changing world,” said Jonathan Ortmans, president and founder of the Global Entrepreneurship Network. “We are proud to connect them with investments and connections to grow that impact.”
The competition, co-hosted by the Global Entrepreneurship Network and Saudi Arabia’s Small and Medium Enterprises General Authority, Monsha’at, is one of the largest and most diverse pitch competitions and support programs of its kind. Every year, tens of thousands of entrepreneurs from 200 countries and territories compete for US$1 million in cash prizes and millions more worth of investment, support and publicity.
The top 100 finalists from around the world were invited to pitch at the 2024 Global Finals following months of competition in national and regional qualifiers, global pool selections, and a bootcamp for the top 250 companies. The Global Finals, an attraction of Biban24, concluded on the eve of Global Entrepreneurship Week, an annual movement that celebrates and empowers entrepreneurs in every country and community around the world.
“The Entrepreneurship World Cup has been an amazing learning experience for Yumari,” said Andres Diaz Bedolla, founder and CEO of Yumari. “Every finalist was outstanding, so being recognized with the first place [in the early-stage category] is an immense honor and responsibility to keep building and growing."
"It’s hard to put into words the emotions we’re feeling—pride, joy, and an immense sense of responsibility to keep pushing forward,” said Tatevik Avagyan, CEO of Nomiq. “This achievement is only a milestone in our journey, and we know there is still a long road ahead. Thank you for believing in us. We’re excited for what’s next and can’t wait to keep growing and making a difference.”
Since launching in 2019, the competition has attracted more than 430,000 registrations from 200 countries and connected founders with over US$5M in cash prizes and another US$266M worth of free support and services. The competition is supported by more than 100 partners world-wide.
In addition to the champion prizes, 11 startups from 11 countries received cash prizes of $25,000-$140,000 to take their innovative solutions to the next level.
Entrepreneurship World Cup 2024 Results
Growth Stage Category
- Growth Stage Champion ($200,000): MisMar, based in Saudi Arabia, is an automotive tech startup reshaping the car after-sale market through digitization and reengineering the conventional customer journey.
- 2nd Place ($140,000): N&E Innovations, a Singapore-based company turning food waste into a powerful antimicrobial substance/additive.
- 3rd Place ($70,000): Sommalife, a Ghana-based social enterprise that leverages software technology to create value for smallholder farmers and the stakeholders that engage them.
Early Stage Category
- Early Stage Champion ($100,000): Yumari, based in Mexico, is a cross-border manufacturing-on-demand platform that allows global businesses to connect with Latin American producers and manufacturers.
- 2nd place ($75,000): Encapsulate, a United States-based company developing advanced tumor-on-a-chip systems that personalize chemotherapy selection, providing rapid, actionable, evidence-driven insights for effective treatment outcomes.
- 3rd place ($60,000 prize): amplifAI Health, a Saudi Arabia-based company that integrates AI with thermal and hyperspectral imaging to detect early signs of health conditions, starting with diabetic foot ulcers.
- 4th place ($45,000 prize): MyoGene Bio, a United States-based biotech startup on a mission to develop therapies to save the lives of patients with muscle diseases. Their first approach is a gene editing therapy for Duchenne muscular dystrophy.
- 5th place ($35,000 prize): Hormona, a UK-based company reinventing hormone health for women through AI and at-home testing.
Idea Stage Category
- 1st place ($50,000): Nomiq, an Armenia-based AI-driven, low-code platform that leverages domain-driven design (DDD) principles to revolutionize software development.
- 2nd place ($25,000): Audiomatic, a company based in the United Arab Emirates that leverages AI to instantly generate tailored music and sound effects, enhancing content creation for ad agencies and video producers, and eliminating the need for manual music searches.
Sector Category
- Health + Wellness: ($50,000): VitruvianMD, a South Africa-based company revolutionizing fertility with the world’s first AI that selects the best quality sperm for IVF.
- Economies of the Future: ($50,000): Salutes Space, a Germany-based company specializing in robot-on-chip for autonomous operations in space and on Earth.
- Energy + Industrial Leadership ($50,000): EnergyX, a South Korea-based company creating tech-enabled architecture solutions to build a sustainable future for humanity.
- Sustainable Environment + Supply of Essential Needs ($50,000): Marine Innovation Co, a South Korea-based company transforming marine algae as material into first-of-its-kind ESG-value products.
The Entrepreneurship World Cup will return in 2025 with new prize categories including a specialized track for spacetech startups. Be the first to know when applications open.