Misk 500 Accelerator Program
January - May 2020, Riyadh
Misk and 500 startups are launching their third cohort of the accelerator program in January, 2020. Misk 500 is a pre-accelerator program that takes place semi-annually. The team of growth hackers, investors, and mentors are come to MENA for 14 weeks to impart knowledge on 15-20 hand-selected startups.
What Do Startups Get?
You’ll get access to mentors from the 500 Startups global team and partners. Mentors will be available for 1:1 meetings and can share wisdom from the Silicon Valley entrepreneurial experience.
Lectures from members of the 500 team and notable guests on marketing, monetization, product design and more.
Work with your team as part of a carefully selected community of awesome startups!
$50K Investment per participating startup from 500 Falcons and possibly additional investment from affliates.
Help setting up your company in Saudi.
Highlights: Batch 1
January - May 2019
Accelerated 19 companies in seed-stage from 6 countries: Saudi Arabia, UAE, Kuwait, Palestine, Egypt, Algeria
Sectors: AgTech, Developer Tools, eCommerce, EdTech, FinTech, HealthTech, HRTech, Security, Transportation, Travel/Hospitality and Social
Over US$ 5.5 Million raised following the program
50 new jobs created
Monthly Recurring Revenue grew between 80-400%
Demo Day brought in 300+ attendees
Highlights: Batch 2
September - December 2019
20 companies from 5 countries
Saudi Arabia, UAE, Bahrain, Jordan, Egypt
Sectors: Retail / eCommerce, ERP, Adtech / Martech, Consumer eCom, Real Estate / Transportation, Food, Fashion, Procurement, Ridesharing / Vehicle Rental, Professional Services, Construction, Recruiting, Payments, Education, Beauty
Why Misk 500 MENA Accelerator?
500 has deep roots in the MENA region with the 500 Falcons Fund and is excited to support pre-seed and seed stage companies in a more significant way through the programming; driving additional innovation and entrepreneurism to the region. Please note that participants in the program will receive mentoring, growth hacking learnings, and access to 500 Startups’ extensive ecosystem, as well as consideration to receive an investment by 500 Startups and Misk Innovation and their affiliates.
What is the background of the program?
The 14-week program is based on 500 Startups’ world leading flagship accelerator program based in San Francisco, and tailored for startups from the MENA region that want to learn from 500 Startups’ global team of mentors and network of entrepreneurs and build a strong foundation across all disciplines of starting a successful tech-enabled company.
Are there any fees for this program?
No, there are no fees for participating in the program.
What level of English is required for attendees?
This program is provided in English, however, some content may be available in Arabic during or after the program. Participating startups will need to have a strong verbal and written understanding of the English language.
Who are the mentors?
The mentors are drawn from 500’s global team and network of entrepreneurs. Speakers are still being added, so the full list is not yet available.
How long does the program last?
The program will last 14 weeks, with 2 break weeks (‘Sprint Weeks’). Please note that participants in the program will receive mentoring, growth hacking learnings, and access to 500 Startups’ extensive ecosystem, as well as consideration to receive an investment by 500 Startups and Misk Innovation and their affiliates. Participants are required to be on-site during the duration of the 12 active weeks of the program.
How does participation work?
The program is open to startups working full-time. Full-time participants have access to an office at the program location for 5 days a week and for the duration of the program to interact with the mentors, except for the ‘Sprint Weeks’ when the accelerator space will be open while the 500 team will be available for questions remotely.
Do I need to take time off from work to attend this program?
The program is designed for startup companies that are working full-time on their startup. Occasional absence for work-related meetings and travel is permitted with prior approval. All participating startup founders and relevant team members are expected to fully participate in all activities of the program on-site.
Is there anything scheduled on the weekends?
There are no sessions on weekends.
What accommodation is available for participants?
Accommodations will not be provided to participants this year, however, the program organizers may arrange for discounted apartments for participants to stay in. The cost of these accommodations is solely the responsibility of the participants.
What startups qualify for this program?
Applications are now open to MENA based pre-seed and seed stage technology startups. Companies that go through the Accelerator Program will not have to pay tuition to participate and will be considered for an investment by 500 Startups and Misk Innovation. We are looking for pre-seed and seed stage tech-enabled startups in the following fields: B2B, B2C, E-Commerce, FinTech, EdTech, HealthTech, IoT, Robotics, Artificial Intelligence, SaaS and Messaging services. Conditions: Startups with some traction, and which already have a working product.
How do I know if I am qualified to apply?
The 500 MENA Accelerator Program is designed for startups at the pre-seed and seed stage that have a working product, demonstrated traction and the necessary team members. However, depending on your sector, team, product, or service, we may select your team as early as the MVP / prototype stage.
How many team members can join a team?
In addition to the founders, a maximum of two team members per company will be allowed to participate at any given time. The CEO and founders are expected to participate in the majority of program activities and sessions.
Who evaluates the teams?
The applications will be reviewed by an investment committee from 500 Startups in conjunction with the Misk Innovation team. Unfortunately, we may not be able to provide feedback to each team that applies.