The second edition of Falak Investment Hub’s intensive programme is set to raise the stakes (and the investments) after its 2019 debut.
Following a 2019 that saw it invest a total of SAR4.2 million in tech startups around the GCC, Saudi Arabia’s Falak Investment Hub is set to up the ante with the second round of its three-month ‘Flagship Acceleration Program’, which is set to be held virtually, starting from November 15th.
The angel investor has announced that it plans to invest a total of SAR5 million in up to 10 tech startups, while also providing the chosen startups with the chance to take their first steps into other GCC markets.
The intensive program intends to help the enrolled hone their skill and knowhow in the fields of management and strategy, marketing and growth hacking, finance and accounting, and legal and intellectual property, through mentorship and advisory sessions.
Launched last year, the Flagship Acceleration Program is the first angel-backed programme of its kind in Saudi Arabia. According to Falak Investment Hub, the programme’s 2019 batch benefited from over 70 mentorship sessions, 26 training sessions and eight founder-to-founder sessions, which in turn produced over 300% portfolio growth, 100-plus new jobs and over SAR50 million in sales for the seven participating startups.
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