Sanabil 500 MENA

Seed Accelerator

Frequently Asked Questions

Q. Are there any fees for this program?

A. No, there are no fees for participating in the program.

 

Q. What level of English is required for attendees?

A. This program is conducted in English. Participating startups will need to have a strong verbal and written understanding of the English language.

 

Q. How will the program take precautions during Covid-19?

A. In order to prioritize the health and safety of our founders and program team, the program will be run entirely online until further notice.

 

Q. Who are the mentors?

A. The mentors are drawn from 500’s global team and network.

 

Q. How long does the program last?

A. The program will last 12 weeks.

 

Q. When is the application deadline?

A. March 7, 2021.

 

Q. What startups qualify for this program?

A. We are looking for early-stage, tech-enabled startups with some traction, and which already have a working product. Companies currently operating or planning to operate in Saudi are recommended to apply.

 

Q. How do I know if I am qualified to apply?

A. The program is designed for early-stage startups that have a working product, demonstrated traction and the necessary team members. However, depending on your sector, team, product, or service, we may select your team as early as the MVP or prototype stage.

 

Q. How many team members can join a team?

A. In addition to the founders, two additional team members per company will be allowed to participate at any given time. The CEO and founders are expected to participate in each of the program activities and sessions.

 

Q. Who evaluates the teams?

A. Applications will be reviewed by a dedicated team from 500 Startups. Unfortunately, we may not be able to provide feedback to each team that applies.

 

Q. Is this an investment program?

Yes, this is an investment program. Selected startups will receive a USD $100,000 investment for 10% equity.

 

Q. Am I eligible to re-apply if I have been rejected from a 500 program in the past?

A. Yes absolutely! We always recommend founders to apply even if they haven’t been successful in the past.

Have more questions? Feel free to contact us at menaaccelerator@500startups.com