Monaqasat takes the 2nd place at ArabNet 2011 Startup Competition

BEIRUT, LEBANON – March 24, 2011 – Monaqasat.com, the leading eTendering provider in the Middle East, today was named 2nd place winner of the ArabNet Startup Demo Competition 2011 out of the 10 finalists. The competition supports early-stage start-ups from across the region and helps them grow their businesses. The final decision was made by panel of business personalities.

There were 10 finalists and each of them had 5 minutes on stage product presentation with the main focus on emphasizing product’s strong market potential, effective business model and potential socioeconomic impact.

Monaqast.com has attracted over 620 companies to use its platform, including some of most important construction-related companies in the UAE such as ADCE (the engineering branch of ADCB), KEO, ACG, Helal & Partners, Syrconsult, Heberger Engineering, Dar Al Omran Abu Dhabi Architectural Engineering Consultancy and Al Meedan, Al Fara’a, Dhafra Intl Projects, Dhafir Development & Contracting LLC, Group 3, Q Construction LLC and Al Mezin General Contracting. So far it has processed over USD 4.9B worth of bids and saved over 4.5 million pages of paper in less than 2 years of operation.

The ArabNet 2011 Startup Competition is part of the the ArabNet Shift Digital Summit 2011, a four day event, March 22 – 25, taking place in Beirut, Lebanon, under the Patronage of H.E. General Michel Suleiman, President of Lebanon and in collaboration with the Central Bank of Lebanon. The startups that participated in the competition had a working product, a customer base and revenue stream, and were looking for taking their companies to a new level, through funding, exposure, or strategic partnership. This is a great opportunity for all of them to network with investors and media and build relationships they need to help them grow since they are given exhibition spaces during the conference.

About Monaqasat
Monaqasat.com was officially launched in 2009 in the UAE and is an end-to-end eTendering solution that has been developed with the sole goal of making the tender process easier, more secure and more transparent for all its users. The system enables project owners, consultants, project managers and bidders to manage the entire tender process online. More about Monaqasat.com can be found at www.buildhuman.com.