Forbes and the Aviram Foundation have launched a US$500,000 competition to identify new businesses committed to driving significant, profound positive change through technological innovation.

The event – for which the top prize is US$500,000 – looks for original products or services that will result in positive social, environmental, or human impact. Last year’s contest saw hundreds of submissions, with Israeli startup RedC Biotech coming away with the top prize.

The challenge is open to startups based in Algeria, Egypt and Morocco, as well as Bahrain, Israel, Jordan, Saudi Arabia and the United Arab Emirates. Businesses are eligible to apply if they are at the pre-seed or seed phase, with an established concept that positively impacts humanity. They must not have exceeded US$5 million in total investment.

Click here to submit a startup for consideration. Submissions will be accepted until January 30.