New Riyadh based Misk Innovation accelerator in call to North African startups

Misk Innovation is calling on startups from the Middle East and North Africa (MENA) region to apply to a new accelerator programme in the Saudi Arabian capital of Riyadh. Those startups selected will each score $100 000 in investment.

The programme is being run in partnership with Seedstars, a startup competition and investor in emerging market startups and Saudi Arabian venture capital (VC) company Vision Ventures.

Misk Innovation falls under the Prince Mohammed bin Salman bin Abdulaziz Foundation (Misk Foundation).

Applications close on 21 July.

MENA startups that have raised between $250 000 and $1-million can apply to Misk Innovation’s new accelerator

To qualify startups must have achieved product-market fit, must current generate over $10 000 in monthly revenue have previously raised between $250 000 and $1-million.

It’s not clear how much equity Misk and its partner organisations will take in each startup that it invests it.

The programme kicks off in September with a five-day bootcamp in Riyadh and will end with a bootcamp and demo day in December. All the expenses will be covered by the accelerator.

Those startups selected will have the chance to receive follow-on funding from Vision Ventures and Seedstars.

Meanwhile, according to an article yesterday by tech publication Menabytes, the first cohort of an acceleration programme for pre-seed and seed-stage startups that Misk last year launched in partnership with 500 Startups, graduated just a few weeks ago.

Featured image: Night skyline of Riyadh, Saudi Arabia (apriltan18 via Pixabay)