The 15 startups in Batch 4 of the Sanabil 500 MENA Seed Accelerator Program have been announced by Riyadh-based global venture capital firm 500 Capital and Sanabil Investments, a financial investment firm.
Over 590 applicants from the MENA region applied for the program. According to reports, it was one of the most competitive batches to date, with an acceptance rate of less than 2.5 per cent. It provides pre-seed and seed-stage startups in the Middle East and North Africa region with mentorship and incubation to help them validate and scale their businesses at the regional and global levels.
The 12-week programme provides one-on-one mentoring to founders with a focus on business strategy development, fundraising, and growth. The Demo Day, scheduled for December 4, 2022, at the Four Seasons Hotel in Riyadh, will be the culmination of the competition, with the 15 applicants presenting to a live audience of key stakeholders, including accredited investors, corporates, and industry professionals.
Companies in the batch are working on solutions for industries such as fintech, food and beverage, agtech, healthtech, and insurtech.
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