“Don’t wait! Just go for it!” – Guy Kawasaki

In our last article we wrote about 8 global startup accelerators offering great funding and mentorship programs for startups to get off the ground. Further we mentioned that there are many other great accelerators and seed investment programs in the world, thus no matter where your location is you can still find great entrepreneurial advices, funding and networking with investors, business angels and venture capitalists in your region too. For that reason in today’s article we decided to present 8 startup accelerators relevant for MENA Region.

1. Oasis500: is an early stage and seed investment company in Jordan which offers entrepreneurship training, mentorship guidance, incubation and additional follow-up investment funds if required. The focus is mainly on entrepreneurship in Jordan and the region. “Our goal is clear: 500 startup companies in five years. It requires vision, focus and enthusiasm. It takes energy, effort and dedication”, writes Oasis500 on its official website. So, what do you get from Oasis500? Up to JD 10,000 (around $14,000) in the first round (for those who excel in training) and up to JD 50,000 (around $70,500) in the second round (for those who manage to grow after the first stage of incubation) of funding, plus free training, office space for the incubation period at the King Hussein Business Park including internet and hosting,  legal advice, mentoring during incubation, networking opportunities with successful businessmen and businesswomen, and finally a round of Angel funding for the companies who are ready for it. How do you get selected for the first round of funding? First: you submit the idea online as simple as possible because the first requirement is description of your idea in 140 characters. Second: fill out a general assessment form that will be sent to you once the idea is read by Oasis500. Third: go for an informal, or as they say “a relaxed get-together” interview. Fourth: if you go through the previous step’s criteria then your whole file will be reviewed and if your score is within the acceptable range you will join the Oasis500 Boot Camp (a six-day intensive training workshop). Finally if you excel in the training you will get to the first round of funding which is up to 4 months long and if you manage to get to the second round of funding then you could stay up to 8 months. What does Oasis500 get from you? “In exchange for the help and services that we provide for the entrepreneur and the Company, Oasis500 receives a 10% equity stake in your company”, writes Oasis500 on its official website. For more details on this program’s services visit its official website and their FAQ section.  

2. Meydan: “is a new age accelerator focused on reducing the time from idea to revenue. We offer more than money. The value we create is 80% from wisdom and knowhow, and 20% from money. Our obsession is to create value@speed using packaged knowledge, proven tools, smart and hard work, and above all passion to make a difference” , writes Meydan in its brochure. So what does the whole process look like? The pioneers go through a selection process and the selected companies have 22 weeks period to release their business. “Meydan will guarantee the owner of the business, during this short period of time, the release of his or her company in the market and building it on a stable foundation”, writes Zawaya.com. And what does Meydan get in return? It gets ownership of 5% of that company. For more information on Meydan and its program follow this and this link.

3. SeedStartup: is a UAE based startup accelerator and seed venture fund. Their main focus is on digital media (web, mobile, software) startups. Entrepreneurs from anywhere in the world can apply under one condition: if they get selected then they have to live in UAE for 3 months while the program takes place. This year’s program starts on September 30, 2011. So what’s the deal? If you get selected then besides mentorship, advices, help to get the first customers, and close collaboration among different teams, you get funding up to $25,000 (92,000 UAE Dirhams) too  in return for a flat 10% equity stake.  If your team has 2 co-founders then you will get $20,000 and if there are 3-4 co-founders then you could get $25,000. “The last day of the program is investor day, where the founding teams will pitch their now fundable businesses to a large audience of investors and the media.  In the weeks leading up to investor day we’ll work on refining your pitch and the content of your presentation in order to maximize the chances of securing further funding”, writes SeedStartup on its official website. Follow this link to find out more about this program’s details.  

 4. PnP(Plug and Play) Egypt: a Silicon Valley startup accelerator based in Cairo and Sillicon Valley that “provides three main services for regional startups: acceleration, mentorship, and most importantly funding” writes VentureBeat. “When your company is ready to grow, Plug and Play will offer the needed capital. Whether you need $10k of seed capital to test a new business model or $1M to revolutionize the internet, we can support you”, writes PnP on its official website. Moreover, 4 times a year they choose the best companies from PnP Egypt to attend Silicon Valley Acceleration programs at PnP Headquarters in Sunnyvale, California.  Funding for expanding the most promising companies will come from Rising Tide Fund, a Silicon Valley-based venture capital firm led by Dr. Hassanein, as well as a network of VC partners, writes TechWadi.  Plug and Play Egypt is a joint initiative led by Dr. Ossama Hassanein, Chairman of Rising Tide Fund; Saeed Amidi, founder and CEO of Plug and Play International; and Hazem El Wassimy, Managing Director of Plug and Play Egypt.

5. Seeqnce:  is a web & mobile startup accelerator – with offices in Beirut, Lebanon – that provides enhanced coworking spaces for entrepreneurs, alongside a collaborative environment for the digital innovation community. As an accelerator, Seeqnce directs a unique experience-centric program that takes startups from idea, to prototype, development, marketing, launch, funding, and through growth. Seeqnce applies culturally-adapted best practices of seed-stage enablers like Y Combinator, Founder Institute, HackFWD and Plug & Play, to kickstart and accelerate Arab World web startups. Monaqasat, iSpicePhotos, Cinemoz, Sarab, and Transterramedia are some of the Seeqnce advised companies.  Samer Karam is the Founder and CEO of this accelerator.

6. iPark: is a technology incubator specialized in Information Technology and telecommunication (ICT). iPark provides “the needed catalyst to fuel the entrepreneurial process that is pivotal to Jordan’s economic development”, is reported on its official website. As reported by 4east4west’s Weblog, “The incubator aims at helping entrepreneurs to establish their own companies, in the most critical stage: The first two years,” said Omar Hamarneh, director of iPark, adding, “start-ups fail in their early stages not because their ideas are not innovative but because the founders fail to think and act as businessmen instead of thinking as engineers.” So what do you get out of this deal? First, logistical services: companies are ready to move in office space and full logistical facilities. Second, strategic support services: an experienced network of advisors with a proven track record in supporting ICT start-ups. And third, operational support services: networks of operational services providers such as marketing, auditing, legal, and technical services. iPark dose not acquire a share in the startup. 4east4west’s Weblog reports: “Unlike western-based incubators, iPark does not provide funding but tries to arrange funding from different sources: National Fund For Enterprise Support(NAFES)to help small- and medium-sized businesses of HCST; individual or corporate investors,” Hamarneh said.

7. Tenmou: is Bahrain´s first Business Angels Company, which provides both mentorship and capital to high-potential, innovative Bahraini entrepreneurs from the seed stage. The whole process takes 3 steps: Step 1 is selection, Step 2 is mentorship program and Step 3 is investor day when you present your company in front of later stage investors who could possibly take you to a next level if needed. The usual investment is around BD20,000 (around $53,000), in return for between 20% and 40% of the company. Followthislink to learn more about this program.

8. Tahrir2: is a technology incubator based in Alexandria, offering office space (free of charge ), seed funds and mentorship for web and mobile startups. “Tahrir2 is all about doubling the energy of the youth and getting their ideas to the second step. We try to lower the risk on entrepreneurs while offering an environment for them to interact with each others and get tutored by top notch mentors, and yah.. we keep it fun while they build their Empire”, is written on their official website. As reported by ArabCrunch.com, the funding is case by case and is around $15,000 and up. “Mohammed Gawdat is the investor and partner in Tahrir also sets in its board of directors, Samer El Sahan is founder and CEO”, writes ArabCrunch.com.

MENA region is rapidly changing and opening great opportunities to you entrepreneurs. New accelerating programs that help you get your idea off the ground are all around you. The only thing you need to have is a GREAT IDEA about GREAT PRODUCT. If you have that then don’t waste time but contact some of your regional accelerators and seize the opportunity.