Saturday June 15th, 2024
Download SceneNow app

500 Global & Sanabil Announce Selection for Seed Accelerator Program

12 finalists have been selected for the seventh round of the programme, from which 77 startups have already graduated.

Startup Scene

500 Global & Sanabil Announce Selection for Seed Accelerator Program

Multi-stage venture capital firm 500 Global (formerly 500 Startups) has announced the seventh batch of companies selected for their Sanabil 500 MENA Seed Accelerator Program, operated in partnership with Saudi-based Sanabil, an investment company wholly owned by the Public Investment Fund (PIF). The 12 selected companies include startups from fintech, foodtech, SaaS, and proptech industries among others, with the programme intended to help them scale up.

The 12 startups were selected from around 400 applicants from across the MENA, with Saudi Arabia, UAE, and Egypt taking podium spots for most applicants. The accelerator targets pre-seed and seed-stage startups from the region, providing them with valuable resources to increase their footprint. Thus far, 77 companies have graduated from the programme.

On May 29th, a Demo Day will be held at Riyadh’s Four Seasons Hotel, giving the selected finalists a chance to present to key stakeholders, including venture community members, corporates, and industry professionals. The event will also be streamed live on YouTube.

With the finalists for this round of the programme already selected, applications are already open for the next batch, inviting yet more regional startups to apply.