MiSK 500, Saudi-Arabian accelerator has selected four Egyptian tech startups. The four Egyptian startups are construction marketplace El-Mawkaa , e-commerce startup In Your Shoe, food delivery startup Ordera, and jobs platform TechieMatter.
The program will see 20 companies from the Middle East and North Africa (MENA) participating and will hold in Riyadh, culminating in a demo day in December 2019.
The 14 week programme will see the companies undertake an intense curriculum structured to help pre-seed and seed-stage startups create successful companies and scale.
The participating companies will receive coaching, mentorship and USD 50,000 equity funding, for a 7% stake in each of their companies.
Managing Partner of 500 Startups MENA, Sharif El-Badawi, said, “At 500 Startups, we are excited to host our flagship MiSK 500 Accelerator programme in partnership with Misk Innovation in Saudi Arabia for the second time. As the region’s largest economy, the kingdom is a strategic market for us and for the MENA region. It’s strong government support, its inherent market dynamics and its young population structure is a testament to the robust buildup of its rapidly growing entrepreneurial ecosystem.”
He further said: “At 500 Startups our mission is to support the most talented entrepreneurs, help them create successful companies at scale and build thriving ecosystems. Our accelerator programme aims to empower regional startups by raising the level of training standards for young entrepreneurs in the region. On completion, we look forward to seeing our startups actively contribute to MENA’s burgeoning tech entrepreneurship ecosystem.”