14 companies will present live at Demo Day on June 1st at the Fairmont Hotel in Riyadh
RIYADH, Saudi Arabia, May 10, 2022–(BUSINESS WIRE)–500 Global, a leading global venture capital firm, and Sanabil Investments, a financial investment company focused on global private investments in venture capital, growth and small buyouts, unveiled today 14 startups in Batch 3 of the Sanabil 500 MENA Seed Accelerator Program 2022. They were selected out of more than 500 applicants from MENA – which represents an acceptance rate of less than 3%.
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The Sanabil 500 MENA Seed Accelerator Program provides pre-seed and seed-stage startups across the Middle East and North Africa with the foundation they need to validate and scale their business regionally and globally.
The finalists in Batch 3 are working to address solutions in a diverse range of sectors, including fintech, e-commerce, education, and NFTs. Applications were received from across MENA, with the top three countries being Egypt, Saudi Arabia and the UAE.
“Nearly 40 companies have graduated so far from the Sanabil 500 MENA Seed Accelerator since its launch a year ago. They represent the seeds of the future in an ecosystem that is gaining momentum rapidly. At 500 Global, we are thrilled to play our part in equipping founders with the tools they need to scale and contribute to the region’s economic development,” said Amal Dokhan, Partner, 500 Global.
“We are delighted with the quality of this batch of startups. Our finalists reflect the evolving breadth and depth of today’s entrepreneurial ambitions and where founders believe their products and services could soon make a difference in our everyday lives. We look forward to this exciting Demo Day to witness firsthand how the founders will articulate the transformation of their visions into commercial realities,” said Sanabil Spokesperson.
The 11-week program offers founders one-on-one mentorship with a focus on business strategy development, fundraising, and growth. It culminates on June 1, 2022 with Demo Day at the Fairmont Hotel in Riyadh, in front of a live audience of key stakeholders, including accredited investors, corporates and industry professionals. The event will also be livestreamed to a general audience on YouTube.
Here are the Batch 3 companies:
Ajjerni (Lebanon): Rental marketplace that allows users to rent everyday items from others in their community.
Amused (Saudi Arabia): Connects buyers and sellers of authentic pre-owned high-end luxury fashion.
Countd (UAE): Allows customers to pre-schedule healthy meals from favorite restaurants, based on fitness goals and diet preferences.
Drahim (Saudi Arabia): Manages wealth through auto-saving and investing based on a …….