Batch 6 Graduates from the Sanabil 500 MENA Seed Accelerator Program

Batch 6 Graduates from the Sanabil 500 MENA Seed Accelerator Program

Yesterday, December 5, 2023, witnessed the demo day for the 6th batch of the Sanabil 500 MENA Seed Accelerator Program, a partnership between 500 Global, a leading global investment capital company, and Sanabil Investments, a Saudi company specialized in investing in startups.

The event commenced with an opening address by Amal Dokhan, the General Partner at 500 Global Accelerator, who welcomed the attendees and spoke about the nine companies and their founders, possessing extensive experience in government, corporate, and entrepreneurial fields.

Subsequently, Sarah AlMubarak, Head of Business Development at Sanabil Investments, discussed the objectives pursued by the Sanabil 500 accelerator, which include:

  • Assisting startups in developing and scaling their businesses.
  • Providing support and guidance to startups through a team of experts and investors.
  • Connecting startups with potential funding and growth opportunities.

Following this, Courtney Powell, CEO of Operations and Managing Partner at 500 Global, shared the company’s experience in supporting startups worldwide. She emphasized the significance of the Middle East and North Africa region for the company and its commitment to supporting startups in the region.

6th batch of the Sanabil 500 MENA Seed Accelerator Program

Abdulrahman AlJiffry, a partner at 500 Global, introduced and acquainted the nine participating startups.

Following the opening remarks, representatives from the selected nine startups of the sixth batch delivered a presentation about their businesses. These companies cover a wide range of sectors, including financial technology, food technology, software as a service (SaaS), real estate technology, e-commerce, and legal technology.

The nine selected companies from the sixth batch of Sanabil 500 accelerator program are:

  1. Reachware is an integration Platform for medium and large enterprises that connect different data systems in one click.
  2. Blink helps restaurants break their dependency on food delivery aggregators and boosts their profitability by building and managing their online ordering systems.
  3. Behja Rent to own service that enables a flexible path to home-ownership without the burden of commitment.
  4. NQOODLET A digital platform for companies to manage their expenses by providing their employees with prepaid cards
  5. Qanoniah enables companies to find, understand, and manage accurate up-to date legal content in seconds
  6. SOCIALEE a video commerce platform, connecting beauty content creators & consumers, through honest product reviews
  7. Mile helps fleet operators supercharge their processes with an integrated logistics & commerce platform.
  8. Ejari offers a Rent Now, Pay Later service that gives tenants the convenience of flexible payment options.
  9. FIFOplus maximizes restaurant profits and efficiency with an AI powered all-in-one procurement solution.

At the conclusion of the event, a dinner was held to honor the investors and participating experts alongside the selected startups from the program.

It’s worth noting that the Sanabil 500 accelerator program provides a diverse array of benefits to participating startups, including:

  • A cash investment of $100,000 per company.
  • A 12-week training program.
  • Access to a wide network of investors and experts.

The sixth batch of the Sanabil 500 accelerator is considered one of the most competitive batches since the program’s inception, with the nine selected companies chosen from over 700 participation requests from the region.

The selected startups expressed their satisfaction with participating in the Sanabil 500 accelerator program, highlighting how the program provides them with the necessary support and guidance needed for growth and success.

Read Also: Abu Dhabi Investment Office and Faraday expand AI solutions in Abu Dhabi

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