DOHA: Silicon Valley-based 500 Startups, the most active early-stage Venture Capital firm in the Middle East and North Africa (Mena) region, has announced twelve pre-Series A regional companies participating in the second edition of the MENA Dojo Series A Program following a very rigorous selection process.
The startups in this batch include: Eyewa, online glasses and contact lenses retailer; GymNadz, fitness app for millennials; Keno, on-demand car wash app; La Reina, marketplace for renting dresses; Medihealth, at home doctor service app; Melltoo, second hand goods marketplace app; Mr Draper, personalized clothing stylists for men; MyU, education platform for parents, teachers and students; Nawah, scientific outsourced laboratory service; Plantshop, online nursery commerce; SocialDice, HR platform for recruiters; and VBOUT, marketing technology platform.As part of the program each new startup will receive an investment of up to $150,000 in funding from 500 Startups Mena focused fund, 500 Falcons, in addition to significant hands on mentorship and advice on growth.
Commenting on the announcement, Hasan Haider, Partner, 500 Startups MENA said: “We are extremely proud to announce the second batch of amazing startups at the Series A stage from all across the Mena region.
The selection for the program uniquely includes not only whether the startup is investible, but additionally whether our team of growth experts can significantly help the trajectory of the business. At 500 Startups, the Series A Program is focused on building a base growth mindset and structure in each startup, in addition to providing one-on-one active growth mentorship and support. Our focus in the program is on growth metrics to set the startups up to raise stronger funding rounds at the next stage.”
Dr Maher Hakim, QSTP Executive Director, said: “We have some absolutely outstanding talent in Qatar and the Mena region. We congratulate the second batch of the MENA Dojo Series A Program, who emerged successful after a very rigorous selection process.
“Our partnership with global ecosystem builders, such as ‘500 Startups’, reflects Qatar Foundation’s mission to foster innovation locally and regionally. Innovation is a wealth-creation engine. By tapping into the talent of our region and investing in it, we believe that new wealth will be created.Together, we aim to nurture such culture that empowers people to develop interest in technology and product development, and entrepreneurship.”
500 Startups Series A Program is a growth focused program that invests and trains startups all around the world. This year the program is being held in collaboration with Sirdab-labs in Kuwait. The first module of intense growth hacking sessions was held from 1-12 April 2018 and was handled by 500’s internationally renowned growth mentors.The second session commenced on April 29 April and will run till May 9. The first ‘Doha Dojo’ program was held by 500 Startups in collaboration with the Qatar Science and Technology Park (QSTP) in May 2017. Nine companies participated in the program and were able to raise significant funding after Investor Day.
