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SECOND EDITION OF MISK500 ACCELERATOR PROGRAM ENDS ON A HIGH NOTE

9 months 2 weeks ago

500 Startups and Misk Innovation recently hosted an invite-only Demo Day event at the prestigious King Abdullah Financial District (KAFD) Conference Centre to mark the conclusion of the second edition of the Misk500 Accelerator program. A total of 18 companies had the opportunity to pitch their business concepts to more than 300 investors, government representatives, delegates and members of the media, and to forge invaluable connections.

The Batch 2 companies came from across the MENA region including Saudi Arabia, United Arab Emirates, Bahrain, Jordan and Egypt. They represented a variety of sectors including Recruitment, Retail and eCommerce, Enterprise Resource Planning (ERP) software, Food, Fashion, Professional Services, Construction, Payments, Education, and Beauty.

Osama Alraee, Executive Manager at Misk Innovation, said, “At Misk, we’re on a mission to empower young people across the world to activate their entrepreneurial ambitions and achieve real impact. The quality of the startups taking part is testament to the depth of talent and ambition in the MENA region, and the success of this Demo Day is a testament to our partnership with 500 Startups, part of our commitment to working with sector-leaders to empower young people.”

“We are delighted to host the Demo Day for Batch 2 in partnership with Misk Innovation. Our partnership has fostered a collaborative environment that will continue to spur innovations and investments that contribute to the robust and highly innovative MENA ecosystem,” said Sharif El-Badawi, Managing Partner at 500 Startups MENA. “Misk500 Accelerator is a key element of our strategy to back the region’s most talented founders, help them create successful companies at scale. We are impressed with the quality of the tech startups present in this batch that are helping to solve real-world challenges.”

“Mentorship and technical support are crucial for a startup’s long-term success and by participating in our accelerator program we facilitate regional startups to have access to our global community of experienced mentors at any time. As a result of the program, many of the startups are already generating revenue and represent high-growth tech verticals. We are confident that our best-in-class global startup program will empower the startups to enjoy a prominent presence and become key players in the international arena in the near future.”

As part of the program, the participating companies underwent extensive training by 500 Startups’ global team of experts, covering multiple topics including: fundraising strategy, growth strategy, marketing strategy and ways to target and attract customers. They also received one-on-one mentoring with notable tech founders, pitch coaching, investment readiness training, investor introductions, and access to investment from 500 Falcons, which is dedicated to fostering the growth and development of diverse pre-seed and seed tech startups in the MENA region. 

The Batch 2 Demo Day built on the success of the Batch 1 Demo Day held in May. Also held at the KAFD Conference Centre, 19 tech startup companies pitched to more than 300 investors, invited guests and representatives of both local and international media as part of the groundbreaking collaboration between 500 and Misk Innovation.

About 500 Startups:

500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. It is one of the most active venture capital firms in the world.

Since its inception in Silicon Valley, 500 Startups has invested in over 2,300 companies via its 5 global funds and 15 thematic funds dedicated to either specific geographic markets or verticals. Its 120+ team members are located in 20 countries around the world in order to support the 500 Startups global portfolio of investments which spans more than 74 countries.

Notable 500 portfolio companies include: Twilio (NYSE: TWLO), Credit Karma, SendGrid (acquired by Twilio), Grab, GitLab (acquired by Microsoft), Bukalapak, Canva, Udemy, TalkDesk, Intercom, Ipsy, MakerBot (acquired by SSYS), Wildfire (acquired by Google), and Viki (acquired by Rakuten).

Beyond providing seed capital, 500 supports startups via their Seed Accelerator Programs which emphasize digital marketing, customer acquisition, lean startup practices, and fundraising for pre-Seed companies. 500 Startups further contributes to the development of innovation ecosystems by supporting startups and investors through educational programs, events, conferences, and partnerships with corporations and governments around the world.

About Misk Innovation:

Misk is a non-profit foundation devoted to cultivating learning and leadership in youth for the Saudi Arabia of tomorrow.

To this end, Misk focuses on the country’s youth and provides different means of fostering talent, creative potential, and innovation in a healthy environment that paves the way toward opportunities in the arts and sciences. Misk (in English “musk”) derived its name from the heart of our Arab and Islamic heritage. That ancient perfume has been used for centuries as a symbol of generosity and benevolence; used by one yet its perfume engulfs everyone.

The Foundation is invested in educating the youth in three wide fields; Education, Media & Culture. These pillars of knowledge will support and advance our country’s future. Enabling the Saudi people to learn is a means to develop and drive advances across the business, technological, literary, cultural, and social aspects of our nation.

Misk pursues these goals by both establishing programs and partnering with local and global organizations in diverse fields. Through a variety of incubators, the Foundation is helping to develop intellectual capital and unlock the potential of all Saudi people.

We believe that our organizational presence can support and enhance a knowledge-based society that values lifelong learning, which will bring fulfillment and value to the Saudi society. Our guiding principles are commitment, impact, and integrity.

Notes:

Figures are based on internal estimates and have not been independently verified. 

500 Startups programs, investor education services, strategic partnership consulting services and events are operated by 500 Startups Incubator, L.L.C. (together with its affiliates, “500 Startups”) and the funds advised by 500 Startups Management Company, L.L.C. do not participate in any revenue generated by these activities. Such programs and services are provided for educational and informational purposes only and under no circumstances should any content provided as part of any such programs, services or events be construed as investment, legal, tax or accounting advice by 500 Startups or any of its affiliates.

This press release  is intended solely to provide information regarding the Misk 500 Accelerator. All content provided in this press release is provided for general informational or educational purposes only. 500 Startups makes no representations as to the accuracy or information contained in this press release and while 500 Startups has taken reasonable steps to ensure that the information contained in this press release is accurate and up-to-date, no liability can be accepted for any error or omissions.

Under no circumstances should any information or content in this press release, be considered as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups or any of its affiliates or representatives. Further, no content or information contained in this press release is or is intended as an offer to provide any investment advisory service or financial advice by 500 Startups. Under no circumstances should anything herein be construed as fund marketing materials by prospective investors considering an investment into any 500 Startups investment fund

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