500 Startups, one of the most active global early stage venture capital firms, has partnered with Sanabil Investments, a financial investment company focused on global private investments in venture capital, growth and small buyout, to launch the Sanabil 500 MENA Seed Accelerator Program in Riyadh.
This follows the recent announcement of the establishment of 500 Startups’ new MENA regional headquarters in Riyadh.
Led by General Partner Bedy Yang, the Sanabil 500 MENA Seed Accelerator Program will consist of six programs run by 500 Startups over a period of three years for a select group of pre-seed and seed stage startups from across the MENA region.
Startups participating in the program are expected to receive a USD$100,000 investment from the Sanabil 500 MENA Seed Accelerator Fund, a 500 Startups fund.
In addition to investing in program participants, the fund will also invest opportunistically in other pre-seed and seed stage startups throughout MENA.
The fund is expected to invest in approximately 100 startups.
Applications for the first batch of the accelerator kick off on February 22nd. 500 will select startups from Saudi Arabia and the wider MENA region, and its global network of expert mentors will deliver the program to help them scale and build regional and global connections.
Founders will participate in a 12-week program which begins with a two-week session on Foundations of Growth, followed by seven weeks of guided coaching and an additional three weeks of classes on fundraising and pitch prep. They will have access to investor office hours throughout the program, which culminates in Demo Day one week after its conclusion.
Interested startups can apply here. Deadline is March 7, 2021.