Misk 500 ACCELERATOR
Q. Why Misk500 Accelerator?
A. 500 has deep roots in the MENA region with the 500 Falcons Fund and is excited to support pre-seed and seed-stage companies in a more significant way through the programming; driving additional innovation and entrepreneurship to the region.
Please note that participants in the program will receive mentoring, growth hacking learnings, and access to 500 Startups’ extensive ecosystem, as well as consideration to receive an investment by 500 Startups and Misk Innovation and their affiliates.
Q. What is the background of the program?
A. The 14-week program is based on 500 Startups’ leading flagship accelerator program based in San Francisco and tailored for startups from the MENA region. 500 Startups’ global team of mentors work directly with participating startups to help them build a strong foundation and provide them with all the tools to build a successful tech-enabled company.
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 provided in English, however, some content may be available in Arabic during or after the program. Participating startups will need to have a strong verbal and written understanding of the English language.
Q. Who are the mentors?
A. The mentors are drawn from 500’s global team and network of entrepreneurs. Speakers are still being added, so the full list is not yet available.
Q. How long does the program last?
A. The program will last 14 weeks, with 2 break weeks (‘Sprint Weeks’). Participants are required to be on-site during the duration of the 12 active weeks of the program.
Q. When is the application deadline?
A. The application due date is December 7th, 2019. Notice of acceptance or rejection will be sent on or before January 6th, 2020.
ABOUT THE SCHEDULE
Q. What is the timeline of this program?
A. The accelerator program itself will run from February 2020 to May 2020, with two 1-week long breaks (‘Sprint Weeks’). It ends with a Demo Day in Riyadh during the week of May 3rd, 2020.
**Schedule will be finalized to best meet the needs of the participants and is subject to change.
ABOUT STAYING IN RIYADH
Q. How does participation work?
A. The program is open to startups working full-time. Full-time participants have access to an office at the program location in Riyadh for 5 days a week and for the duration of the program to interact with the mentors, except for the ‘Sprint Weeks’ when the accelerator space will be open while the 500 team will be available for questions remotely.
Q. Do I need to take time off from work to attend this program?
A. The program is designed for startup companies that are working full-time on their startup. Occasional absence for work-related meetings and travel is permitted with prior approval. All participating startup founders and relevant team members are expected to fully participate in all activities of the program on-site.
Q. Is there anything scheduled on the weekends?
A. There are no sessions on weekends.
Q. Can I stay in Riyadh during the break weeks?
A. You are welcome to remain in Riyadh for the break to work on your company, but can also travel during this time.
Q. What accommodation is available for participants?
A. Accommodations will not be provided to participants, however, the program organizers may arrange for discounted apartments for participants to stay in. The cost of these accommodations is solely the responsibility of the participants.
ELIGIBLE CANDIDATES & QUALIFICATION
Q. What startups qualify for this program?
We are looking for pre-seed and seed-stage tech-enabled startups in the following fields: B2B, B2C, E-Commerce, FinTech, EdTech, HealthTech, IoT, Robotics, Artificial Intelligence, SaaS and Messaging services. Conditions: Startups with some traction, and which already have a working product.
Q. How do I know if I am qualified to apply?
A. The Misk 500 Accelerator Program is designed for startups at the pre-seed and seed stage 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 the majority of program activities and sessions.
Q. Who evaluates the teams?
A. The applications will be reviewed by an investment committee from 500 Startups in conjunction with the Misk Innovation team. Unfortunately, we may not be able to provide feedback to each team that applies.