500 Global, a venture capital firm, and Sanabil Investments, owned by the Public Investment Fund, have launched the eighth batch of the Sanabil Accelerator. This initiative focuses on fostering innovation in various sectors such as AgTech, Health Tech, and Fintech, selecting nine promising startups from over 430 applications across the MENA region.
The accelerator program supports pre-seed and seed-stage startups through mentorship and resources, building on the success of 89 previous graduates. The program aims to enhance the MENA startup ecosystem by empowering entrepreneurs to scale globally.
Amal Dokhan, a Managing Partner at 500 Global MENA, expressed excitement about introducing Batch 8 to global innovation ecosystems, highlighting the maturity and expertise of the selected entrepreneurs. A spokesperson from Sanabil Investments emphasized their commitment to supporting innovative ideas and technologies that improve lives and strengthen the economy.
The 12-week program includes personalized mentorship in business strategy, fundraising, and growth, culminating in a Demo Day on December 4th, 2024, at the Four Seasons Hotel in Riyadh, with live streaming available on YouTube.
- Cultivaet (Egypt): Enhances farmers’ earnings by modernizing agricultural practices.
- Equiptal (Saudi Arabia): Infuses intelligence into construction operations.
- Hakeem Health (UAE): Provides a 24/7 prescription delivery app.
- Neo Mobility (UAE): Offers integrated electric fleet solutions.
- Orbii AI (UAE): Facilitates instant credit decisions for B2B lenders.
- Sahl (Saudi Arabia): Automates digital compliance processes.
- Scooply (Saudi Arabia): Supports F&B businesses with gamified training.
- Smart Bricks (UAE): AI platform for maximizing real estate investment returns.
- Yasmina (Saudi Arabia): Provides customizable insurance solutions for online businesses.
Following the program’s conclusion, applications for the next batch will open soon, inviting new startups to join.
About 500 Global: This venture capital firm manages $2.3B in assets, investing in fast-growing tech companies globally. With a presence in 80+ countries, it has supported over 2,900 companies, including more than 35 valued over $1 billion.
About Sanabil Investments: A PIF-owned investment company, Sanabil commits over $3 billion annually to global private investments. It supports partners with patient capital and regional access, investing in innovative ideas and companies.
