500 Global and Sanabil Investments announce Batch 7 of the Sanabil 500 MENA Seed Accelerator Program

Multi-stage venture capital firm 500 Global and KSA-based Sanabil, a financial investment company [wholly owned by the Public Investment Fund (PIF)] announced the seventh batch of their Sanabil 500 MENA Seed Accelerator Program, aimed at helping up-and-coming companies scale up in the region.

The final selected companies are focused on developing solutions across a diverse range of sectors, including Fintech, Foodtech, SaaS, ML & Software, E-Commerce, AgTech, AdTech, and Proptech. The twelve companies were selected out of around 400 applicants. The applicants come from the Middle East & North Africa, with Saudi Arabia, UAE, and Egypt as the top three countries.

The Sanabil 500 MENA Seed Accelerator Program provides pre-seed and seed-stage startups across the Middle East and North Africa with the foundation they need to validate and scale their business regionally and globally. Seventy-seven companies have already graduated from the program.

“This batch represents the 7th edition of the Sanabil 500 MENA Seed Accelerator, and showcasing these startups at the upcoming demo day fills us with pride. Their maturity and the exciting, diverse opportunities they offer, coupled with the keen interest from numerous international investors looking to engage with the region, highlight the vibrant theme of this era in the region. We are privileged to be contributing significantly to the development of this ecosystem as a global platform is exhilarating,” stated Amal Dokhan, Managing Partner at 500 Global MENA.

“This is our seventh Sanabil 500 MENA Seed Accelerator Program and the competition is as intense as we have ever seen it. With around 400 applicants, this year’s 12 finalists represent come from a diverse range of sectors including, food and agritech and other solutions-based tech from their industry. We believe the program will help shape their entrepreneurial journey and we remain committed to supporting and guiding them as they validate their product and plot a path to profitability,” said a Sanabil spokesperson.

The 12-week program offers founders one-on-one mentorship with a focus on business strategy development, fundraising, and growth. It culminates on May 29, 2024, with Demo Day at the Four Seasons Hotel in Riyadh, in front of a live audience of key stakeholders, including venture community members, corporates, and industry professionals. The event will also be live-streamed to a general audience on YouTube.