Riyad Season pushes hotel occupancy rate to 90%
Women-led startups among finalists for PIF’s Sanabil 500 Global Accelerator Program
RIYADH: Sanabil Investments, 100% owned by the Public Investment Fund, and 500 Global, a leading global venture capital firm, unveiled 11 startups on Sunday in the second batch of the Sanabil 500 seed accelerator program MENA 2021.
The founders lead a third of the pack, signaling 500 Global’s commitment to continue to support diversity. The program provides pre-seed and seed-stage startups in the Middle East and North Africa with the foundation they need to validate and grow their businesses regionally and globally.
Selected from 500 applicants, the finalists work across a wide range of industries, including FinTech, e-commerce, NFT, healthcare tech, and real estate tech.
“The Sanabil 500 MENA Seed Accelerator aims to create a resilient, integrated and sustainable entrepreneurial ecosystem that attracts start-ups from across the region and contributes to its growth. We are delighted to support such talented founders as they embark on a promising journey, ”said Bedy Yang, Managing Partner at 500 Global.
More than 60% have their main operations in Saudi Arabia or have a Saudi-born founder, while startups without a head office in the country have indicated their intention to establish operations in Saudi Arabia within the next three years.
“Our 11 finalists reflect the ever-evolving breadth and depth of today’s entrepreneurial ambitions and where the founders believe their products and services could soon make a difference in our daily lives,” said a spokesperson for Sanabil.
The 12-week program, which ended in Riyadh with Demo Day, provided the founders with dedicated mentorship focused on business strategy development, fundraising and growth.
Here is the list of start-ups for batch 2:
Bring: Allows customers to buy and claim insurance online with just a few clicks.
Nuqtah: NFT Marketplace for Creatives in Saudi Arabia.
Améen: Certified therapist in the comfort of your home.
Jingle Pay: Digital banking app that simplifies the daily financial needs of expats.
Below: Direct-to-consumer sales focused on men’s waist hygiene products in MENA.
Playbook: Edutainment platform and professional network that accelerates the career progression of women.
Nitros: Multi-carrier shipping software that enables online merchants to automate their shipping operations.
Let’s go to work: A digital marketplace and membership that connects users to on-demand workspaces, private offices and meeting rooms.
Juleb: SaaS for pharmacies that helps increase sales and ensures compliance with an enterprise resource planning system that streamlines point-of-sale processes.
As a team : Event management application for organizing and sharing sports competitions.
Twin health: Enables early detection of disease using imaging and AI tools to extend healthy human lifespan.