Seedstars is launching a Growth Accelerator for MENA tech startups in partnership with Misk Innovation and Vision Ventures. The Growth Accelerator, targeted at startups with product/market fit that are looking to scale, will take place from September to December 2019.
With three on-site bootcamps and a demo-day in Riyadh, the hybrid (virtual/on-site) program allows startups to stay close to their customers while benefit from constant coaching from in-house and external growth experts.
Seedstars and Vision Ventures will co-invest $100,000 in the participating startups and consider follow-on investments of up to $1 million.
“Being entrepreneurs ourselves, we know how founders suffer in their journey towards success. Our role is to try to add lighting and directions to the roads ahead of them. The co-investment model in this program gives startups two great institutions on their capitalization table, access to the strong local/regional network, and knowledge of Vision Ventures, in addition to the global Seedstars platform.”, Kais Al-Essa, Founding Partner and CEO of Vision Ventures.
The Growth Program is focused on helping startups with product/market fit to implement a process to deliver consistent growth. The program participants will also receive coaching on key topics such as talent management, leadership and fundraising strategy.
“Startups often have a misconception that growth comes from hacks, while in fact, it’s a process. Growth is a culture, a mindset and a methodology that needs to be implemented and that’s the main goal of the program,” Charlie Graham-Brown, CIO of Seedstars.
Applications to the program are now open and will be accepted until the 21st of July. To enroll in the program, startups should meet the following criteria:
- Tech startups from any sector in the MENA Region
- Raised funds between $250,000 and $1,000,000
- Have over $10,000 in monthly recurring revenue
- Have a product/market fit
The Growth Accelerator aims to build on the essential work of startup ecosystem enablers across the MENA region who have developed a healthy startup community and early-stage deal flow.
“Misk Innovation has been supporting early-stage startups through various initiatives such as events, bootcamps and acceleration programs. We now see a need to help startups make the jump to become ready for Series A round. We believe that the combined program of investment and the know-how can make a real difference,” Osama Alraee, Entrepreneurship Growth Director at Misk Foundation.
Find more details about the Growth Accelerator on the official program website.
ABOUT MISK INNOVATION
Misk Innovation is creating a world-class innovation ecosystem that will nurture, develop, and transform human capital into producers and economic value creators. Their vision is to instil the innovator in everyone and elevate our community to the forefront of global innovation. Their mission is to foster innovation to empower people, generate lasting impact and sustain social and economic development.
ABOUT VISION VENTURES
Vision Ventures is a Saudi VC firm by entrepreneurs for entrepreneurs. It invests in innovative startups in the early stages helping them realize their dreams and make a difference. Vision VC looks for highly driven founders who want to change the status quo. It focuses on the MENA region as we see the huge potential but invest globally as well. Vision VC is run by successful entrepreneurs who have helped many regional and international startups succeed and grow.