Orbit Startups and Sanabil Investments have launched the Sanabil Accelerator by Orbit, a program that they say is aimed at supporting early-stage startups in Saudi Arabia, the Middle East and North Africa (MENA) region, as well as global companies looking to expand into these markets.
The program will focus on sectors such as fintech, healthcare, e-commerce, mobility, and logistics, according to the companies. Participating startups are expected to receive an initial investment of $100,000, access to follow-on funding, and a four-month training program focused on sales, marketing, and product development.
The companies stated that the initiative also includes lifetime membership in the Orbit and Sanabil ecosystem, providing startups access to a network of partners, mentors, and investors.
Orbit Startups said the accelerator program builds on its work in the region, where it claims to have supported 45 portfolio companies since 2020. Sanabil Investments added that the program aligns with its efforts to foster entrepreneurship and economic development in Saudi Arabia and beyond.
Sanabil also highlighted its previous program, Sanabil Accelerator by 500 Global, which focuses on seed-stage startups. In contrast, the new initiative will target pre-seed investments, the company noted.
Selected startups will begin with an in-person market orientation in Riyadh. Orbit Startups emphasized that the program is designed to help startups expand into Saudi and MENA markets, with guidance from mentors and opportunities to connect with investors.
William Bao Bean, Managing General Partner of Orbit Startups, said, “Entrepreneurship plays a vital role in economic transformation, and our partnership with Sanabil allows us to support startups in scaling across borders. By providing resources and fostering innovation, we hope to enable these companies to contribute to industry growth and economic potential in Saudi Arabia and the MENA region.”
A spokesperson for Sanabil Investments stated, “Sanabil Accelerator by Orbit reflects our commitment to empowering early-stage startups across sectors like technology, healthcare, and mobility. This initiative underscores our focus on driving sustainable development and fostering innovation in Saudi Arabia’s startup ecosystem.”
Details about the application process for the Sanabil Accelerator by Orbit were not immediately provided.
