RIYADH, Saudi Arabia—500 Global and Sanabil Investments Launch Eighth Cohort of Sanabil Accelerator to Boost MENA Innovation
500 Global, a leading multi-stage venture capital firm, in collaboration with Sanabil Investments—a financial investment company wholly owned by Saudi Arabia’s Public Investment Fund (PIF)—has announced the launch of the eighth cohort of the Sanabil Accelerator. This batch highlights nine dynamic startups selected from over 430 applications across the MENA region, focused on sectors such as AgTech, Construction Tech, Health Tech, Mobility Tech, Fintech, RegTech, HR Tech, Proptech, and Insurtech.
Empowering Regional Startups for Global Impact
The Sanabil Accelerator by 500 Global is renowned for its commitment to fostering early-stage innovation. With a track record of helping startups scale regionally and globally, the program provides pre-seed and seed-stage companies with invaluable support through mentorship, resources, and networking opportunities. Over the years, the accelerator has empowered 89 startups that have completed the program, playing a significant role in shaping MENA’s vibrant startup ecosystem.
Amal Dokhan, Managing Partner at 500 Global MENA, expressed enthusiasm about the impact of Batch 8. “We are proud to introduce the entrepreneurs of Batch 8 to the innovation ecosystems in MENA and around the globe. We believe their maturity, clarity of offerings, and deep sector experiences reflect the region’s continued evolution. We’re excited to partner with these founders on their entrepreneurial journeys and look forward to continuing our work with exceptional innovators from MENA.”
A Sanabil Investments spokesperson also highlighted the growing demand for the accelerator. “Our leadership in venture capital is reinforced as more entrepreneurs apply to Sanabil Accelerator by 500 Global, seeking support to develop their ideas and succeed locally and globally. We’re thrilled to welcome this next wave of innovators, thinkers, and builders who will improve lives, strengthen the economy, and advance technology on a global scale.”
Key Startups in the Sanabil Accelerator’s Eighth Cohort
The chosen startups represent a range of high-impact solutions:
- Cultivaet (Egypt): Transforms agricultural practices with data-driven solutions to boost farmer incomes.
- Equiptal (Saudi Arabia): Optimizes idle machinery use in construction through intelligent operational tools.
- Hakeem Health (UAE): Delivers prescription medications on demand, anytime, from local pharmacies.
- Neo Mobility (UAE): Provides eco-friendly, integrated electric fleet solutions for delivery and taxi companies.
- Orbii AI (UAE): Facilitates hyper-accurate credit decisions for B2B lenders by analyzing financial behavior.
- Sahl (Saudi Arabia): Helps companies achieve digital compliance with automated, cost-effective solutions.
- Scooply (Saudi Arabia): Enhances employee training for F&B businesses using gamified learning.
- Smart Bricks (UAE): AI-powered real estate investment platform to maximize data-driven returns.
- Yasmina (Saudi Arabia): Embedded insurance provider enabling online businesses to offer customizable policies.
Program Details and Demo Day
The intensive 12-week accelerator program equips founders with focused mentorship in business strategy, fundraising, and growth. This cohort will conclude with a Demo Day on December 4, 2024, at the Four Seasons Hotel in Riyadh. The event will convene key stakeholders, including the venture capital community, corporate leaders, and industry professionals, and will be streamed live on YouTube.
About 500 Global
500 Global manages $2.3 billion in assets and invests in technology-driven companies worldwide. With over 5,000 founders and more than 2,900 companies across 80 countries, 500 Global has backed 35+ unicorns and 160+ firms valued at over $100 million. The team, spread across 25 countries, includes experienced entrepreneurs, investors, and tech experts.
About Sanabil Investments
Sanabil, a PIF-owned financial investment company, commits over $3 billion annually to global private investments, focusing on venture capital, growth, and buyouts. With a dynamic team of professionals, Sanabil supports innovators by providing patient capital and multi-round funding opportunities.
For more information on applying to future cohorts of the Sanabil Accelerator, visit Sanabil’s website.
