Arabreneur has made its first investment of more than $500,000 in four high-growth Palestinian companies as part of its pledge to invest in 10 to 12 Palestinian companies per year.
The programme is a recently launched acceleration program in partnership with USAID that is expected to create 50-100 new jobs every year. Arabreneur also works in Jordan, Egypt, Morocco and the United Arab Emirates.
It will provide technical assistance, expansion into new markets, networking opportunities with global partner accelerators in North America, Europe, and Australia, and exposure to potential clients and partners.
The four startups that received the investment are Aidbits, an online data management platform for the non-profit sector, Fariqak, MENA’s (Middle East and North Africa’s) first online fantasy game based on international football leagues; LiveTop, a social education platform for educators and students and Karaz, an online platform providing advice and consultation to newly wedded couples.
The four companies were the winners of Palestine’s first-ever angel investor pitching event last November. The four companies were selected based on their readiness to improve and expand their businesses to new markets.
“The MENA region is witnessing an entrepreneurial revolution, creating a role for Arabreneur along with angel investors and mentors who are working together to guarantee the sustainability of the ecosystem in the region”, said Dr. Al-Jaber, Founder of Arabreneur and MENA Apps.
Arabreneur’s accelerator space in Ramallah is part of a national, regional and global network of accelerators, which the chosen entrepreneurs are entitled to use for three months through the Soft Landing program, allowing space for the entrepreneurs to explore new markets and meet clients, mentors, and investors to support their businesses.
Arabreneur’s next investment round is scheduled for late February 2014; interested entrepreneurs are welcome to submit their businesses through the online platform: www.arabreneur.com