Techawk

US-based venture capital (VC) firm 500 Startups has partnered with Saudi Arabia’s Misk Innovation to launch an early-stage accelerator programme for the Middle East and North Africa (Mena) region. The partnership announced at the Misk Global Forum will focus on bringing growth hacking techniques and Silicon Valley expertise to emerging companies in the region. The 16-week course is now open for applications and 15 to 20 technology startups from across Mena will be selected to be part of the first cohort in January 2019. 500 Startups has been invested in the region since 2012 and launched its 500 Falcons fund in 2017 focusing on seed-stage investments. “We hope to accelerate innovation, facilitate job creation, improve cross-border operations and build local GDP [gross domestic product] across the region,” said Sharif El Badawi, managing partner at 500 Falcons. Priority will be given to startups in the business-to-business, business-to-consumer, e-commerce, FinTech, EdTech, HealthTech, internet of things (IoT), robotics, artificial intelligence (AI), software as a service (Saas) and messaging services sectors. What do startups Get? Knowledge Access to mentors from the 500 Startups global team and partners. Mentors will be available for 1:1 meeting and can share wisdom from the Silicon Valley entrepreneurial experience. Lectures Lectures from members of the 500 team and notable guests on marketing, monetization, product design and more. Community Work with your team as part of a carefully selected community of awesome startups! Investment $50k investment per participating startup from 500Falcons and possibly additional investment from affiliates. Help Help in setting up your company in Saudi. Program Schedule: January 27th to May 16th, 2019
  • November 14th: Applications open
  • November 14th to December 30th: Application screening and interviews
  • December 16th: Application deadline
  • January 7th: Applications acceptance/ rejection letters
  • January 27th: Program Start – Module 1
  • February 22th to March 9th: Break Weeks
  • March 10th: Program Continues – Module 2
  • April 5th to April 20th: Break Weeks
  • April 21st: Program Continues – Module 3
“We are committed to amplifying innovation and it is our goal to invest in our remarkable founders and provide them with all opportunities they need to strive in this fast-paced world,” said Deemah Al-Yahya, executive manager at Misk Innovation. Deadline for applications is on December 16, 2018. Click here to apply.

Musa Suleiman
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