Sanabil, Orbit Launch Accelerator for Early-Stage Startups
The program will focus on sectors such as fintech, healthcare, e-commerce, mobility, and logistics.
Sanabil Investments and Orbit Startups have launched the Sanabil Accelerator by Orbit program to assist early-stage startups in Saudi Arabia and the Middle East and North Africa (MENA) region, as well as global startups seeking to expand in the region.
The program will focus on sectors such as fintech, healthcare, e-commerce, mobility, and logistics. Startups will receive US$100,000 in initial funding, with opportunities for follow-on investments. The four-month acceleration program will concentrate on sales, marketing, and product development, followed by lifetime access to Orbit and Sanabil’s network of partners, mentors, and investors.
The accelerator includes in-person market orientation in Riyadh, supporting Saudi Arabia’s role as a growing hub for digital innovation.
Orbit Startups, which has supported over 300 companies globally, has been involved in the MENA since 2020, with 45 portfolio companies across the region. The firm aims to promote economic transformation in emerging markets through technology and entrepreneurship. In the 2023 MENA Venture Investment Summary by MAGNiTT, Orbit was ranked as the sixth most active investor in emerging venture markets.
Sanabil Investments, a subsidiary of Saudi Arabia's Public Investment Fund (PIF), allocates more than $3 billion annually to global private investments, including venture capital and growth-stage funding.
“Entrepreneurship is the catalyst for economic transformation, and technology pushes the boundaries of what is possible,” William Bao Bean, managing general partner of Orbit Startups said in a statement. “We’ve been bridging innovation from startups and large organizations from corporates and conglomerates to governments for the past 15 years. 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 at 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."