Misk Accelerator Program Boosts 19 Saudi Startups To New Heights
The Mohammed bin Salman Foundation and innovation experts Plug and Play have collaborated for the Misk Accelerator Program, from which 19 entrepreneurs are moving forward with their initiatives. These recent alums are part of Cohort 3 of the program, which gives young startups in the MENA area access to a yearlong instruction curriculum. The program also includes providing guidance and resources designed to catalyse explosive expansion. These entrepreneurs come from a wide range of industries, including IT, finance, aerospace, tourism, culture, academia, and retail. The accelerator program’s final showcase, known as “Demo Day,” concluded a few days ago.
What is the MISK Acceleration Program?
When it comes to seed-stage tech startups, Misk Accelerator is the global leader. Aiming to accelerate the development and expansion of startups in the Kingdom of Saudi Arabia, the program provides a rigorous three-month curriculum with no equity. Regarding accelerator programs, the Misk Accelerator Program now ranks among the best in the region. More than 60 startups, with this program’s help, have secured over $40 million in funding, resulting in a total market cap of over $300 million. The Misk entrepreneurship division’s goal of facilitating the creation of 10,000 new employment has also benefited from the initiative.
Nasser Almutairi, director of Misk, and Henrik Baerentsen, director of Plug and Play Saudi Arabia, both gave opening remarks. The 19 startups then gave presentations to potential backers. Almutairi was ecstatic to see many ambitious entrepreneurs graduate from the third cohort of the Misk Accelerator Program. He then remarked that they could form a new generation of homegrown startups more quickly because of their strategic partnership with Plug and Play. To sum up, all of these factors will aid in realising Saudi Vision 2030 and the rapid development of the Kingdom’s economy.
Baerentsen expressed that they are excited to continue working with the Misk Foundation. He was also pleased to report that the third iteration of the Misk Accelerator Program had concluded without incident. He stated that they plan to stay in touch with all alumni after the program ends. He added that more than sixty talents and entrepreneurs from their cohorts have benefited from the program. With the help of Misk, Saudi Arabia can aim high and make strides toward realising its 2030 vision.
Takeaways
Through its Misk Entrepreneurship programs, Misk will continue to play a crucial role in assisting and empowering young people in the Kingdom. Misk Entrepreneurship, in conjunction with Plug and Play, has just introduced its fourth Misk Accelerator program. Twenty startups that meet the criteria will make up this group. This cohort will participate in a hybrid 12-week program designed to help Saudi Arabian entrepreneurs grow and expand as quickly as possible. The deadline for Misk applications is in January.
Last Updated on 9 months by News Editor
