https://arab.news/4wmb7
The Saudi company, Genomez — A Project of Medical Diagnostic Assays, was among the six winners of the 14th MIT Enterprise Forum (MITEF) Arab Startup Competition, announced on March 25 at a virtual conference and awards ceremony that attracted more than 500 attendees from all over the world.
Genomez, which previously won third place in the ideas track at the fifth edition of MITEF Saudi Startup Competition, was announced as the first runner-up at the 14th MITEF Arab Startup Competition.
The company has designed a PCR test that integrates data science powered by artificial intelligence and machine learning technologies to multiply capacity of existing molecular laboratory infrastructure. In the past, the concept of pooling test strategy did not achieve its true potential due to false positive results. However, the innovative solution developed by the Genomez’s team has made it possible to tune pooling test strategies, increasing lab testing capacity by up to thirtyfold with the same infrastructure.
Dr. Fawaz Abdulrahman Abdullah Linjawi, founder of Genomez project, said: “We were awarded first runner-up at MITEF Arab Startup Competition 2021, which is 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 Jan. 9 to Feb. 15 was rich and intensive in exploring entrepreneurial excellence. The coaching and support, helped us refine our business model, 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, said: “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 nine winning Saudi teams invited to participate in the 14th Arab Startup Competition include: Hudhud Al, Nugttah and Taffi in the startup track; SARsat, Themar and Genomez in the ideas track; and Ad Astra, Cube DX and Baleegh in the social enterprise track.