500 Global, Sanabil Investments announce Batch 4 of MENA-focused accelerator
At Demo Day on December 4, 15 companies will present their ideas live on at the Four Seasons Hotel in Riyadh.
Riyadh-based global venture capital firm 500 Capital and Sanabil Investments, a financial investment company, unveiled the 15 startups in Batch 4 of the Sanabil 500 MENA Seed Accelerator Program.
The programme received over 590 applicants from the MENA region. One of the most competitive batches to date, it had an acceptance rate of less than 2.5%, according to reports.
It offers mentorship and incubation to pre-seed and seed-stage startups across the Middle East and North Africa region to validate and scale their business at both regional and global levels.
The 12-week programme offers founders one-on-one mentorship with a focus on business strategy development, fundraising, and growth. The Demo Day—scheduled for December 4, 2022, at the Four Seasons Hotel in Riyadh—will be the finale where the 15 applicants will present to a live audience of key stakeholders, including accredited investors, corporates, and industry professionals. The event will also be live-streamed to a wider audience on YouTube.
The 15 companies are based out of Saudi Arabia, the UAE and Egypt, with the highest number of applications for the programme coming from the former—clocking at 159.
Companies selected in the batch are developing solutions for sectors including fintech, food and beverage, agtech, healthtech, and insurtech.
Amal Dokhan, General Partner at 500 Global MENA, said, “We have been working closely with Batch 4 founders since September 2022 to help pave their way to success. They join the 39 companies that have already graduated from the Sanabil 500 MENA Seed Accelerator Program since our launch more than a year ago. Despite global economic headwinds, we continue to strongly believe in the potential of the Saudi and MENA startup ecosystem."
Edited by Kanishk Singh
