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Announcing Sanabil 500 MENA Seed Accelerator Program Batch 7 by 500 Global

Announcing Sanabil 500 MENA Seed Accelerator Program Batch 7 by 500 Global

500 Global, a multi-stage venture capital firm, and Sanabil, a financial investment company owned by the Public Investment Fund (PIF) in Saudi Arabia, have revealed the seventh round of their Sanabil 500 MENA Seed Accelerator Program. This program is designed to support emerging companies in growing across the Middle East and North Africa.


 

The chosen companies are working on solutions in various fields like finance technology (Fintech), food technology (Foodtech), software as a service (SaaS), machine learning & software (ML), online commerce (E-Commerce), agricultural technology (AgTech), advertising technology (AdTech), and property technology (Proptech). These twelve companies were picked from about 400 candidates, primarily from the Middle East & North Africa, with Saudi Arabia, UAE, and Egypt leading in submissions.

 

The Sanabil 500 MENA Seed Accelerator Program supports early-stage startups in the Middle East and North Africa to grow and expand their businesses. So far, 77 companies have completed the program successfully.

 

“This batch represents the 7th edition of the Sanabil 500 MENA Seed Accelerator, and showcasing these startups at the upcoming demo day fills us with pride. Their maturity and the exciting, diverse opportunities they offer, coupled with the keen interest from numerous international investors looking to engage with the region, highlight the vibrant theme of this era in the region. We are privileged to be contributing significantly to the development of this ecosystem as a global platform is exhilarating,” mentioned Amal Dokhan, Managing Partner at 500 Global MENA.

 

“This is our seventh Sanabil 500 MENA Seed Accelerator Program and the competition is as intense as we have ever seen it. With around 400 applicants, this year’s 12 finalists represent come from a diverse range of sectors including, food and agritech and other solutions-based tech from their industry. We believe the program will help shape their entrepreneurial journey and we remain committed to supporting and guiding them as they validate their product and plot a path to profitability,” said a Sanabil spokesperson.

 

The 12-week program provides entrepreneurs personalized guidance in business strategy, fundraising, and growth. It concludes on May 29, 2024, with Demo Day at the Four Seasons Hotel in Riyadh, showcasing to a live audience of important stakeholders from the venture community, corporations, and industry experts. The event will also be streamed live on YouTube for a wider audience.

 

The following is the list of Batch 7 companies that have made it through to the final round:

 

The seventh round of the program ends in May, and we’re now open for applications for the next round. Innovative startups are welcome to apply for our upcoming batch and join us on this exciting journey by clicking here.

 

About 500 Global

500 Global is a venture capital firm managing $2.4 billion in assets as of March 31, 2024. We invest in tech companies with high growth potential, focusing on markets where technology, innovation, and investment can create lasting value and boost economies. We collaborate closely with key players and advise governments on supporting startup ecosystems for their success. We’ve supported over 5,000 founders from 2,900+ companies across 80+ countries. Our investments include 35+ companies valued at $1 billion+ and 160+ companies valued at $100 million+ (private, public, and exited). Our team of 200+ members worldwide brings expertise from top tech firms as entrepreneurs, investors, and operators.

 

About Sanabil Investments

Sanabil is a financial firm owned by the Public Investment Fund (PIF). Each year, we invest over USD 3 billion in global private ventures, focusing on growth and small buyout assets. Our skilled team offers patient funding, supports multiple investment rounds, and connects partners with regional opportunities. Sanabil backs innovative ideas, talented individuals, and promising companies. For more information, please visit sanabil.com.


 


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