Riyadh :- Global venture capital firm 500 Startups and Misk Innovation announced today that 16 companies in Misk500’s third batch have successfully completed the 14-week accelerator program.

With this batch, 500 Startups and Misk Innovation continue on their mission to discover and back the most talented entrepreneurs in the Middle East and North Africa, as they face unexpected challenges amid the COVID-19 pandemic.

In the name of safety and in support of founders, 500 Startups and Misk Innovation quickly pivoted their program to an online format to provide founders with the tools and guidance they need to succeed in a more challenging environment. Drawing lessons from 500 Startups’ successful Digital Demo Day in March at its San Francisco flagship accelerator, the Misk500 program will culminate on May 11 in a virtual demo day. 

Attendees from across the MENA region can watch the streamed event on YouTube at 9:30 pm KSA Time and engage directly with the founders. Attendees will also have first access to presentations, demo videos, team bios and more.

Batch 3 consists of a diverse group of MENA startups hailing from Saudi Arabia, Egypt, United Arab Emirates and Jordan. They are building B2B and B2C solutions to issues in several sectors, including fitness, recruiting, e-commerce and healthtech. With this batch, 500 Startups will have a total of 150 investments in the MENA region.

Misk Innovation, the key program partner in this endeavor commented on the partnership, saying, “The MiSK Foundation, in proud partnership with 500 Startups, shows its persistence to deliver.  Despite the obstacles of the COVID19 crisis, the accelerator is still producing results. No matter the situation, akin to the entrepreneurial spirit, the MiSK Foundation is committed to play its part in cultivating the entrepreneurial ecosystem through its diverse initiatives. We believe that our partnership with 500 Startups proves valuable in reflecting our commitment, especially during the current COVID19 situation, by taking our initiatives virtually.”

Sharif El-Badawi, Managing Partner, 500 Startups MENA, said: “I would like to congratulate our founders, their teams and our mentors for the smooth and seamless transition of the accelerator program to fully remote teaching. Despite the challenging times, the founders have gained valuable insights from the program.”

For more information about the virtual Demo Day or to register to attend, head to https://www.misk.500.co/demo-day 

The companies in Batch 3 are:

Appgain.io: Helps mobile marketers get more users and improve retention in one single platform.

Bankiom: A digital bank that allows customers to open a current account and quickly download a virtual debit card on your smartphone. 

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

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

COVETI: Enables independent fashion designers to produce on-demand garments in under 72 hours through a curated network of suppliers. 

DigitaSport: A SaaS platform that helps sports teams and leagues build their own mobile app to engage with their fans. 

ElCoach: A mobile app which helps you achieve your health goals through personalized fitness and nutrition plans. 

Elva: A wearable device that allows patients to adhere to their medication regimen.

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

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

Tammwel: An online gateway to find the best personalized loans for all your needs with instant approval. 

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

Wee: The first electrical scooter sharing provider in Saudi Arabia. 

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

Yovza: A SaaS platform that helps construction companies in MENA quickly digitize their approval workflow.

-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 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.

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.  ANY VIEWS OR OPINIONS OF MISK REPRESENTED IN THE ABOVE POST ARE THOSE OF MISK AND DO NOT REPRESENT THOSE OF 500 STARTUPS OR ANY OF ITS STAFF OR AFFILIATES UNLESS EXPLICITLY STATED. ALL CONTENT REPRESENTED ABOVE IS PROVIDED FOR INFORMATIONAL 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 April 24, 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.

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