Riyadh – Sharikat Mubasher: Orbit Startups (Orbit) and Sanabil Investments announced the launch of Sanabil Accelerator by Orbit, an accelerator program aimed at supporting early-stage startups from Saudi Arabia, the MENA region, and global startups looking to expand into the region.
The program will focus on key sectors such as fintech, healthcare, e-commerce, mobility, and logistics, as per a joint press release by the two sides.
This partnership marks a significant milestone for Orbit, which has supported 45 portfolio companies across the MENA region since 2020. Orbit’s deepening commitment to economic transformation through technology and entrepreneurship plays a pivotal role in positioning Saudi Arabia as a global hub for digital innovation.
Sanabil Accelerator by Orbit is the second accelerator launched by Sanabil Investments since 2021. The first, Sanabil Accelerator by 500 Global, is focused on seed-stage investments, while the new accelerator program will focus on pre-seed investment.
Startups participating in the program will receive an initial investment of $100,000, along with access to follow-on funding. The accelerator begins with a four-month program that focuses on sales, marketing, and product development, followed by lifetime membership in the Orbit and Sanabil ecosystem. Participants will also have access to an in-person market orientation in Riyadh and hands-on support from a network of partners, mentors, and investors.
William Bao Bean, Managing General Partner of Orbit Startups, emphasized the importance of entrepreneurship and technology in driving economic transformation: “Entrepreneurship is the catalyst for economic transformation, and technology pushes the boundaries of what is possible. Our partnership with Sanabil reinforces our commitment to scaling startups cross-border in the MENA region. By equipping startups with the resources they need, we’re not only enabling industry disruption but also unlocking substantial economic potential. This partnership will support startups as they scale beyond their home markets, positioning them to grow in the Kingdom of Saudi Arabia and across the MENA region through 2030 and beyond.”
A spokesperson from Sanabil Investments added: “Partnering with Orbit, we are committed to empowering early-stage startups across diverse sectors including technology, healthcare, web3, and mobility. Sanabil Accelerator by Orbit is designed to cultivate innovation and drive the growth of Saudi’s startup ecosystem, demonstrating our dedication to supporting visionary entrepreneurs and long-term sustainable development.”
The Sanabil Accelerator by Orbit is set to play a crucial role in accelerating the growth of the startup ecosystem in Saudi Arabia and the wider MENA region, aligning with the Kingdom’s Vision 2030.