Riyadh, Kingdom of Saudi Arabia, April 18th, 2022: Following on the heels of a successful first edition held in 2021, Misk Foundation in partnership with Plug and Play, the world’s leading innovation enabler, brings back the Misk Accelerator. It was launched as part of the Foundation’s vision and initiatives to further support the Kingdom’s startup ecosystem, foster innovation in the tech industry, enable growth, empower the entrepreneurial talent of local-based startups, and support global-based startup expansion plans to the region.
For its 2nd cohort, the Misk Accelerator will run a 12-week non-equity-based seed-stage accelerator focused on providing local and regional startups with mentorship, resources, and business building tools that aims to accelerate their growth in the Kingdom of Saudi Arabia. Earlier this year, Misk Accelerator held a global call for applications which welcomed 680 applicants from 25 different countries.
As part of the 2nd cohort, 20 exceptional tech-based startups have been selected to join this program and access an intensive hybrid program bringing together various training modules including product development, business development, finance, marketing, and tech-based tools required to successfully expand in the region.
Alongside this, the selected startups will also receive mentorship from world-class experts, meet local and global venture capital firms, and gain the opportunity to work with both Misk Foundation and Plug and Play networks. Post the 12-weeks program, the 20 startups will gain access to advisory support and a Misk Entrepreneur Alumni status.
Commenting on the launch of the 2nd Cohort, Eng. Omar Najjar, Chief Programs Officer at Misk Foundation, said:" After the amazing success of the first cohort, we are excited to launch the second cohort of this highly selective accelerator program by Misk and powered by Plug & Play. Recognized as the most familiar accelerator locally and as one of the 10 most notable startup accelerators in MENA in terms of quality and competitiveness, 20 early-stage and tech-enabled start-ups looking to expand and grow their business in Saudi Arabia, have been selected and will be put through a rapid growth path through a 12-week intensive training. The selection was not easy, as the success of Cohort 1 has also translated into high applications, not only did we receive almost 700 applicants but the quality of the startups applying have made it extremely difficult for our Selection Committee to decide on the new cohort."
Babak Ahmadzadeh, Managing Director, Plug and Play Middle East, said: “After a successful 1st edition, we are honored to continue our partnership with Misk Foundation, further supporting them in identifying and encouraging exceptional tech talent and startups to grow in the Kingdom. The launch of the 2nd edition of the Misk Accelerator – Powered by Plug and Play brings together a unique batch of startups that have standout teams and technologies with real market-fit and scalability. Our aim through this 2022 Accelerator is to enable their go-to-market plans to drive digital transformation that aligns with the bold objectives of Vision 2030; while developing more exciting venture investment opportunities in the Kingdom of Saudi Arabia. The cornerstone of our Accelerator with Misk Foundation is collaboration, collaboration, collaboration. Without the great investors, mentors, potential B2B clients, government enablers and academia that we are engaging, the Accelerator can’t flourish. So, a big thank you to the ecosystem for engaging and welcoming us. We could not have asked for a better partner than Misk to make the magic happen. We love working with them. With our shared values to drive real impact and keeping agile, we are confident that we will find and empower many KSA unicorns together. With that being said, we’re excited to be part of this journey further cementing our commitment to a tech-savvy, youthful country and region.”
The leading array of 20 selected Misk Accelerator cohort 2 startups that operate in a multitude of sectors including Fintech, Health-tech, E-commerce, Data Analytics, Sustainability, logistics and more, are:
- Alod - (KSA): a tech-enabled logistics platform that connects logistic service providers with businesses and individual customers through a digital platform to provide on-demand delivery, moving and handling, storing services.
- DermaX - (KSA): A teledermatology platform that aims to streamline the consultation, diagnosis and prescription of dermatology medications and treatments.
- EdfaPay - (KSA): The first Saudi fintech company that builds & integrates Soft POS Saudi Made technology that turns mobile phones Into POS that accept payments.
- Estshara - (Egypt): A healthtech startup specialized in providing virtual and at home services to its users.
- Flash Lead - (Egypt): A cloud-based solutions startup that is revolutionizing how sales and marketing are done.
- GrintaHub - (KSA): An online ticket exchange and resale platform, that allows users to buy and sell sporting, entertainment, and concerts' tickets.
- Hamples - (UAE): A "Try before you Buy" platform, that allows its users to order samples of products to try before purchasing.
- HRCom - (KSA): An applicant tracking system, helping organizations speed up the recruitment & Talent Acquisitions processes.
- Ithnain - (KSA): An online one-on-one goal oriented coaching service designed to support diabetic patients in establishing a better lifestyle, habits, and behaviors.
- Kleen Solutions - (KSA): An integrated technical solutions system catering to the Kingdom’s laundry sector.
- Logexa - (KSA): An on-demand warehousing service for SME's looking for flexible storage without long-term contracts and minimum storage volumes.
- MobiSense - (KSA): A software-based solution that uses your mobile network data to offer insights on how people move, their mode of transportation, places they visit, and their mobility behavior.
- MoneyLoop - (KSA): A fintech platform designed to help people save & lend money through a trusted and secure loop or Jamaih.
- Nadeera - (UAE): A social enterprise startup that leverages digital technology to promote recycling by encouraging behavioral change.
- Qawafel - (KSA): A B2B marketplace for coffee and confectionery products such as chocolate and sweets.
- Rehla - (KSA): A ride-sharing mobile application that offers a new transportation solution for long distances by linking drivers and passengers heading to the same destination at the lowest cost.
- Squadio - (KSA): A staffing marketplace solution that supports SMEs in building their projects and managing their tech teams.
- Swiitch- (KSA): A bartering platform created for users to exchange physical goods or services.
- Takalam - (UAE): An online counseling and well-being platform, offering a private and personalized digital experience through a highly secured technology.
20.360Moms - (Jordan): A platform aimed at creating a supportive community for mothers in the MENA region, through expert information, education, and offerings.
Earlier this month, the Misk Accelerator team hosted the 20 selected startups in Riyadh for the onboarding week and to officially kick off the 2nd edition.