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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.
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)