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, a home doctor service App; Melltoo, second hand goods marketplace App; Mr Draper, personalised 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 programme each new startup will receive an investment of up to $150,000 in funding from 500 Startups Mena focused fund and 500 Falcons, in addition to significant hands on mentorship and advice on growth. 500 Startups Mena partner Hasan Haider said, “The selection for the programme 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 Programme 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 programme is on growth metrics to set the startups up to raise stronger funding rounds at the next stage.”
He added, “In line with this strategy, our internal growth team of internationally renowned experts transfers knowledge and best practices around rapid growth and distribution during the one-on-one mentor sessions.
The growth techniques help startups to fine-tune their product positioning and prioritise the next stage of development on their roadmap to scale their key metrics.”
Dr Maher Hakim, executive director at the Qatar Science and Technology Park, said: “We have some absolutely outstanding talent in Qatar and the Mena region.
We congratulate the second batch of the Mena Dojo Series A Programme, who emerged successful after a very rigorous selection process. He added, “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 Programme is a growth focused programme that invests and trains startups all around the world.
This year, the programme is being held in collaboration with Sirdab-labs in Kuwait.
The first Doha Dojo programme was held by 500 Startups, in collaboration with QSTP in May 2017.
Nine companies participated in the programme and were able to raise significant funding after Investor Day.
To name a few, Souqalmal raised $10mn, Eventtus ($2mn), and eat ($1.8mn). With the first investment in the Mena region in 2012, 500 Startups has since committed to investments in over 80 startups across the region.
With the launch of 500 Falcons, a Mena-focused fund in 2017, 500 Startups plans to invest in approximately 100 to 150 companies over a three year period, in addition to follow-on investments into the top performing companies.