500 Startups And Misk Innovation Team Up To Launch Accelerator Program In MENA
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Tech startups, here’s another opportunity for you. US-based venture capital firm 500 Startups is partnering up with KSA’s Misk Innovation to launch an early-stage accelerator program for the MENA region. Announced at the Misk Global Forum, the 16-week course will focus on “bringing growth hacking techniques and Silicon Valley expertise to emerging companies in the region.”
The accelerator program is open for applications for 15-20 tech startups across MENA that “have a working product and demonstrable initial traction”, with its first cohort set to begin in January 2019. The program’s main focus is on early-stage tech startups in the B2B, B2C, e-commerce, fintech, edtech, healthtech, IoT, robotics, AI, SaaS and messages services field. And the perks? Besides having the opportunity to meet some of MENA’s leading corporations through 500 Startups’ extensive ecosystem network, accepted participants will also be considered to receive an investment from 500 Falcons. Silicon Valley-based team members will also offer support and mentorship during the program on starting and growing a startup, growth marketing frameworks and more. Plus, startups who wish to set up operations will also be offered training and licensing assistance.
With 500 Startups’ involvement as an active investor in the MENA region since 2012, plus launching its MENA-based fund 500 Falcons in 2017, the VC firm is furthering its support for seed-stage startups in the region. “We hope to accelerate innovation, facilitate job creation, improve cross-border operations and build local GDP across the region,” said Sharif El-Badawi, Managing Partner of 500 Falcons, noting how to take step up these efforts and provide entrepreneurs with training and skill, it was an evident choice to partner with Misk. While Misk Innovation, an initiative of Misk Foundation, aims to elevate training qualifications of the youth to the highest international standards for training. Noting 500 Startups’ participation in building ecosystems and as a prominent investor in the MENA region, Deemah Al-Yahya, Executive Manager of Misk Innovation says the partnership was a natural choice, “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.”
Deadline for applications is on December 15, 2018. For more information and to apply for the program, head over to the website.