The local winners of the Seedstars World Competition (SSW) 2020 have been announced with 18 startups from MENA included in the batch. From over 5,000 applicants, 94 tech startups from emerging markets were selected to advance to the regional stage of the competition. The local winners are set to represent their respective countries as they compete for a spot at the Global Finale, where the grand prize is $500K in funding.
Seedstars, the Swiss-based private company with a mission to impact people’s lives in emerging markets, annually holds the Seedstars World Competition to continuously scout for the most promising startups around the Asia, Africa, CEE, MENA, and LATAM regions. This year, 94 ecosystems were included in the online open call for applications. From there, 1,200 startups participated in the Online Seedstars Academy, a training program for entrepreneurs to accelerate their growth and receive mentorship from industry experts around the world.
The next phase of the competition takes the local winners to the regional stage. From the regionals, 10 startups will receive USD 50K in growth program investment as well as the chance to compete at the Grand Finale for a shot at the Global Winner prize of USD 500K in equity investment.
For the MENA region, there are 18 startups moving on to the next stage:
The regional stage of the competition will include a 1-month long Investment Readiness Program, modernized and personalized program helping startups get investment-ready. It will consist of: action-driven webinars on key business metrics; online office hours, where startups can discuss challenges they are facing; domain groups and 1-on-1 mentoring sessions; investor meetings for potential funding opportunities; and peer-to-peer learning and networking sessions.
Source: Press Release
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