Sanabil Accelerator by 500 Global Welcomes Batch 9 in Riyadh

Sanabil Investments and 500 Global have announced the commencement of the ninth batch of their flagship Sanabil Accelerator program in Riyadh, Saudi Arabia, selecting 14 promising pre-seed and seed-stage startups from across the MENA region and beyond.

Key Details

The latest iteration, Batch 9, features a cohort of 14 startups. These companies represent a diverse geographical spread, including founders from Saudi Arabia, the UAE, Egypt, Bahrain, Jordan, Kuwait, Morocco, Palestine, and extending to regions like the UK and USA. The accelerator program is based in Riyadh, leveraging the growing entrepreneurial hub in the Kingdom. The program is intensive, running over a 12-week period.

What the Program Offers

The Sanabil Accelerator by 500 Global is designed to provide founders with critical resources to accelerate their growth. Key offerings include:

• Investment: Participants receive an investment of $100,000 per company.
• Mentorship: Access to global mentors with deep expertise.
• Growth Support: Training and hands-on support focused on key growth areas like fundraising, product development, sales, and marketing.
• Networking: Opportunities to connect with potential investors, partners, and a peer network.

Company Focus & Sectors

Batch 9 continues to showcase innovation across multiple high-growth sectors critical to the region’s digital transformation. The selected startups operate in diverse industries, including:

• FinTech
• HealthTech
• EdTech
• PropTech
• E-commerce
• Logistics
• Future of Work
• Artificial Intelligence (AI)
• Software as a Service (SaaS)

The program specifically targets pre-seed and seed-stage companies, helping them build solid foundations for scaling.

Implications for the Ecosystem

The continuation of the Sanabil Accelerator program, now in its ninth batch, highlights the sustained commitment of 500 Global and Sanabil Investments to fostering the startup ecosystem in Saudi Arabia and the wider MENA region. By investing in and nurturing promising early-stage companies, the program contributes to:

• Capital Infusion: Injecting crucial early-stage funding into startups.
• Talent Development: Providing founders with essential skills and guidance.
• Regional Connectivity: Bringing together startups from different countries and connecting them with global networks.
• Innovation Drive: Supporting companies tackling challenges and opportunities across key sectors.

The program reinforces Riyadh’s position as a significant hub for venture capital and startup activity in the region.

About 500 Global and Sanabil Investments

500 Global is a prominent venture capital firm with a strong presence worldwide, known for its early-stage investments and accelerator programs. They have a significant track record in supporting startups across various sectors and geographies. Sanabil Investments is a wholly-owned company by the Public Investment Fund (PIF) of Saudi Arabia. Sanabil is focused on making investments that contribute to the growth and diversification of the Saudi economy, including significant participation in the venture capital landscape both locally and internationally. Their partnership represents a powerful collaboration aiming to drive innovation and entrepreneurship in the MENA region.

Looking Ahead

The 12-week program will culminate in a Demo Day, where the Batch 9 startups will have the opportunity to pitch to a network of investors. The success of previous batches suggests that this cohort is well-positioned to attract further investment and contribute significantly to the regional tech landscape in the coming years.

Source: Zawya

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