500 Startups and Misk Innovation host digital demo day

MENA:  San Francisco-based 500 Startups, the most active global early stage venture capital firm^[1], and Misk Innovation recently hosted their first-ever Digital Demo Day to  mark the conclusion of the third cohort of the Misk500 Accelerator Program for 16 high-caliber startups.  Following the government lockdown regulations, the in-person event transitioned to a digital format for the health and safety of the founders and the wider entrepreneurial community.

As part of the revised strategic plan, the high-profile event was streamed on YouTube, as well as on 500 Falcons and Misk Innovations social media channels. Approximately 12,000 viewers which included investors, government representatives, members of the media, and ecosystem stakeholders from across the MENA region and beyond, watched the presentations.  

The two-hour program had a fully packed agenda with Christine Tsai, Founding Partner and CEO of 500 Startups, delivering the opening keynote address which highlighted 500’s mission to uplift people and economies through entrepreneurship--a commitment that is even more critical during these difficult times. This was followed by an update by Sharif El-Badawi, Managing Partner, MENA, 500 Startups, on the success of the Misk500 Accelerator program and its positive influence on the rapidly growing Saudi startup ecosystem, in particular, and the MENA region at large.

Founder presentations kicked-off to a great start with a diverse group of 16 startups from Saudi Arabia, Egypt, United Arab Emirates and Jordan. The presentations were followed by a panel of prominent investors who gave key insights into industry trends, and Misk500 Batch 1 graduates who offered important market lessons.

Prior to Demo Day, events company Eventtus created private channels on the 500 Startups App for each startup to interact with attendees and share demo videos, team bios and more.

Commenting on the event, Sharif El-Badawi said: “We are delighted to have successfully hosted an exciting and memorable one-of-a-kind Demo Day. This batch certainly faced unimagined and unexpected difficulties, but their resilience and determination is a testament to the strength of these founders and it is our genuine pleasure to introduce them to a record number of global, regional and local high-profile audience in the entrepreneurial ecosystem.

“Holding demo day on a virtual scale was a challenge, but it turned out to be an advantage. More attendees engaged with founders than we expected. We look forward with confidence to see great partnerships come to fruition in the near future. It is evident that these companies offer key solutions that can be adapted in the wider technology world.”

500 Startups launched The Misk500 Accelerator in collaboration with Misk Innovation in January 2019. The program helps early stage tech companies scale.  Founders have access to a dedicated Entrepreneur in Residence, one-on-one mentoring with successful founders, pitch coaching, investment readiness programs, investor introductions, as well as the 500 Falcons team. To date, 53 pre-seed and seed stage startups across three batches have graduated from the program with most of them having already raised funds to scale their business to the next level.

The 16 innovative startups that participated in Digital Demo Day include:

Ajeer: an on-demand marketplace connecting homeowners with trusted maintenance service providers at competitive level of price and quality.

Appgain: is SaaS that helps mobile marketers get more users and improve retention in one single platform.

Bankiom: is digital bank that allows you to open a current account and get issued a virtual debit card, on your phone... in 3 minutes or less!

Bondai: is the first marketplace to help group travellers to discover and book curated experiences in Saudi Arabia.

Circle: is a mobile app that enables property managers to better engage with their tenants, handle their requests and reduce operational costs.

Coveti: brings front row fashion at your doorstep with a click of a button.

DigitaSport: is SaaS that helps sports teams and leagues build their own mobile app to engage with their fans inside and outside venues.

ElCoach:  an on-demand fitness app for MENA. We use AI to create custom fitness and nutrition plans—unique to each user—based on their current stats, workout preferences, and health goals.

Elva:  is the only fully remote medication management and monitoring solution with 7 granted patents that can work with any existing medication.

Johrh: is the leading online abaya store in the GCC, selling a range of quality designs at affordable prices.

MWJ:  is a marketplace to buy new and pre-owned certified luxury watches in Saudi Arabia.

Tammwel: is your online gateway to find the best personalised loans for all your needs with instant approval decision.

Tasaira: is a mobile app that helps Saudi drivers get tailored quotes from trusted repair shops.

Wee:  is the first Saudi provider for electrical scooter sharing services.

Wuilt: is a website builder where you can create your own Arabic website in under 5 minutes.

Yovza: is SaaS that helps construction companies from the MENA region digitize their approval workflow to save 70% of their time & efforts presently involved.

-Ends-

For any further information, please contact:

Neena Punnen
500 Startups MENA
Email: neena.punnen@500startups.com  

About 500 Startups:

500 Startups is a global early stage 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 in 2010, 500 Startups has invested in over 2,400 companies across more than 75 countries around the world. Notable investments in the 500 portfolio include Credit Karma, Twilio, Canva, Grab, Bukalapak, The RealReal, Talkdesk, Knotel, Udemy and Ipsy.

Beyond providing seed capital, 500 supports startups via its Seed Accelerator Programs which emphasize growth marketing, customer acquisition, lean startup practices, and fundraising for seed companies.

500 Startups further contributes to the development of innovation ecosystems by supporting startups and investors through educational programs, events 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.

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 POST IS INTENDED SOLELY TO PROVIDE INFORMATION REGARDING 500 STARTUPS. ALL CONTENT PROVIDED IN THIS POST IS PROVIDED FOR GENERAL INFORMATIONAL OR EDUCATIONAL PURPOSES ONLY.  500 STARTUPS MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR INFORMATION CONTAINED IN THIS POST AND WHILE 500 STARTUPS HAS TAKEN REASONABLE STEPS TO ENSURE THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AND UP-TO-DATE, NO LIABILITY CAN BE ACCEPTED FOR ANY ERROR OR OMISSIONS. FIGURES ARE APPROXIMATED BASED ON INTERNAL ESTIMATES AS AT MAY 16, 2020 AND HAVE NOT BEEN INDEPENDENTLY VERIFIED.

UNDER NO CIRCUMSTANCES SHOULD ANY INFORMATION OR CONTENT IN THIS POST BE CONSIDERED AS AN OFFER TO SELL OR SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES. FURTHER, NO CONTENT OR INFORMATION CONTAINED IN THIS POST 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.

ALL LOGOS AND TRADEMARKS OF THIRD PARTIES REFERENCED HEREIN ARE THE TRADEMARKS AND LOGOS OF THEIR RESPECTIVE OWNERS. ANY INCLUSION OF SUCH TRADEMARKS OR LOGOS DOES NOT IMPLY OR CONSTITUTE ANY APPROVAL, ENDORSEMENT OR SPONSORSHIP OF 500 STARTUPS BY SUCH OWNERS. THE TERM PARTNER IS USED IN ACCORDANCE WITH CUSTOMARY BUSINESS PRACTICE AND DOES NOT INDICATE A LEGAL STATUS AS A “PARTNER” IN A PARTNERSHIP.

500 STARTUPS HAS NOT TAKEN ANY ACTIONS TO QUALIFY THE DISTRIBUTION OF DEMO DAY UNDER THE SECURITIES LAWS OF ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS OUTSIDE OF THE UNITED STATES WHO VIEW THIS VIRTUAL EVENT MUST OBSERVE ANY APPLICABLE LAWS AND RESTRICTIONS RELATING TO VIEWING THIS EVENT AND ANY RELATED ACTIVITIES OUTSIDE OF THE UNITED STATES.

^[1] Source: PitchBook Data Inc., 2019 Annual Global League Tables ( https://pitchbook.com/news/reports/2019-annual-global-league-tables ), page 12, accessed on May 17, 2020 

© Press Release 2020