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, finalists work across a wide range of industries, including FinTech, e-commerce, NFT, health tech, and real estate tech.
âThe 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, âsaid 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.
âOur 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,â 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.
AmÃ©en: 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 marketplace and digital membership that connects users to on-demand workspaces, private offices and meeting rooms.
Juleb: SaaS for pharmacies that helps increase sales and ensures compliance through 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 a healthy human lifespan.