The 14-week intense curriculum is designed to help 20 start-ups from the region
A group of 20 start-ups are currently taking part in the second round of the Misk 500 Accelerator programme in Riyadh.
Managed by 500 Startups, in collaboration with Misk Innovation, the 14-week intense growth techniques curriculum is designed to help pre-seed and seed stage start-ups.
Over the next two months, the entrepreneurs will be coached and mentored with a focus on product design, defining their customer base and preparing to raise funding.
Sharif El-Badawi, managing partner, of 500 Startups MENA, 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 program aims to empower regional start-ups by raising the level of training standards for young entrepreneurs in the region.
Batch 2 of the Misk 500 Accelerator consists of a diverse group of start-ups coming from the MENA region, including companies from Saudi Arabia, Egypt, United Arab Emirates, Bahrain, and Jordan who are building technologies and products to impact B2B, B2C, e-commerce, FinTech, EdTech, HealthTech, IoT, robotics, artificial intelligence, SaaS and messaging services.
Each of the participating companies will receive training and an investment of $50,000 in exchange for 7 percent equity from the 500 Startups regional fund, 500 Falcons. Including the latest cohort, the total number of investments will be 120 companies from the region.
“On completion, we look forward to seeing our start-ups actively contribute to MENA’s burgeoning tech entrepreneurship ecosystem,” added El-Badawi.
The programme, which kicked off in September, is scheduled to conclude with a demo day on December 3 2019.