500 Startups and Misk Innovation Kick off Second Cycle of Their MENA Accelerator Programme

500 Startups in collaboration with Misk Innovation have welcomed the 20 startups participating in the second cohort of the Misk 500 Accelerator programme currently taking place in Riyadh, Kingdom of Saudi Arabia.  The programme, which kicked off in September, is scheduled to conclude with a Demo Day on December 3, 2019.

“At Misk Innovation, we believe that innovation is vital for the future of humanity, creating a path to economic prosperity. With this vision in mind, our work focuses on transforming Saudi Arabia into a global hub for purpose-driven technology and innovation, both by supporting the next generation of Saudi innovators, as well as attracting global talent to the region,” says Osama AlRaee, Director of Entrepreneurship at Misk Innovation.

Managed by the 500 Startups global team of experts, the 14-week immersive high-growth techniques curriculum is designed to help pre-seed and seed stage startups to create successful companies and scale. For the current run of the programme, 20 innovative emerging entrepreneurs are being coached and mentored, emphasising growth by preparing to raise funding and define their customer base.

Each of the participating startups will receive an investment of $50,000 in exchange for 7% equity from the 500 Startups regional fund, 500 Falcons. With the inclusion of this diverse batch of MENA-based startups, the total number of investments will be on 120 companies in the region.

“The Misk 500 Accelerator program is a key component of this strategy. Through this program, we strive to bring to Riyadh the most innovative, early stage tech startups in the MENA region. Our partner, 500 Startups, provides Silicon Valley-style curriculum, mentors and resources to help these founders build their businesses into a global scale. Ultimately, we hope that these startups thrive in Saudi and the region, creating a positive domino effect that attracts more talent, capital, and resources that strengthen the Saudi tech ecosystem,” adds AlRaee.

The highly-talent list of startups currently participating in the accelerator programme include:

XCUTE: is a MENA-based freelancing platform focuses on high quality in areas like design, IT, and translation.

OTO: is newly-established tech startup that’s building innovative solutions in the logis-tech industry to allow retailers convert their offline stores to online fulfillment centres and change the way orders are being fulfilled and delivered around the city.

Hulexo: is a Service as a software (Saas) company that automates the entire operations of a meal planning company.

Funnelll: is a no-code/low-code platform for companies to build and ran SaaS products and online businesses that are tuned to acquire, engage and convert customers. 

Simplifai Labs: is a marketing platform driven by artificial intelligence to target micro moments that matter by combining image, sentiment and emotional recognition that allows brands to reduce their digital marketing waste by 30% and increase brand safety and communication relevancy by 99%.

Tee Arabia: is an online customizable item store that helps individuals and companies bring their ideas to life. From branding to corporate uniform to simple birthday t-shirts, they got it all.

YallaParking: is an application that allows individuals, businesses and fleet managers to rent available private parking spaces through a monthly subscription.

Akalati: is a food application marketplace for parties, events and gatherings by enabling corporates and individuals to cater for all kinds of events.

IN YOUR SHOE: is a unique footwear manufacturer and e-commerce platform focusing on creating diverse statement products to allow people to express themselves through fashion.

WorkHint: a web-based platform that connects companies with independent management consultants on demand.

Spareslab: is a digital procurement platform for industrial equipment and component parts focused on the shipping industry.

Trteeb: is a marketplace with the biggest pool of tailors, making thobe buying experience easier, faster, trackable and efficient.

Greenish Co.: is an e-store that offers a wide variety of affordable healthy and organic choices, shipped quickly and directly to the customer’s door in Saudi Arabia.

Esar: is a Jeddah-based startup providing of the MENA’s regions first peer-to-peer car rental marketplace.

The Scalable CFO: is an online platform that aims to leverage artificial intelligence (AI) technology and blockchain to match independent accredited Finance professionals to Small and Medium Entreprises, one-to-one in below 48 hours.

ElMawkaa: is an intelligent marketplace for construction industry materials to connect construction companies with suppliers.

TechnieMtter: is a technical recruitment web solution, that delives tech talent to employers quickly without hassle, thanks to our proprietary vetting system.

Ordera: is a mobile application that people can use to place and pay for their coffee and breakfast and pick them up on-the-go in less than a minute, whether from the counter or to be delivered to their cars.

Telp: (Teach + help), is an app that offers academic support through tutoring and academic programme bookings, making it easier and more reliable to find qualified tutors at affordable price. Telp is also tutors’ favorite tool to grow their business while focusing less on admins and marketing and more on teaching.

StyleNow: is an on-demand beauty service providing beauty solutions to our users at the comfort of their own location.