Arabreneur announced an investment of $440,000 USD in four “leading, innovative” Palestinian startups, which will enter its acceleration program. This is the first investment round for Arabreneur, which launched recently in partnership with USAID, and plans to invest in ten to 12 companies a year, creating between 50 and 100 new jobs annually. Arabreneur’s acceleration program, located in a 300 square meter space in Ramallah, will include “technical assistance, logistics services, assistance in penetrating regional and international markets, networking opportunities with partner accelerators in North America, Europe, and Australia, and exposure to new partnerships with potential clients and partners.” The four Palestinian beneficiaries are as follows:
1) Aidbits: an online data management platform for the non-profit sector to monitor activities, indicators, and beneficiaries
2) Fariqak: an online fantasy game based on international football leagues
3) LiveTop: a social education platform which facilitates communication between educators and students
4) Karaz: an online platform providing advice and consultation to newly wedded couples
Founder Dr. Abdulmalek Al-Jaber and Arabreneur seem excited about the possibilities new investment might open up in the region. He says: “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.” Arabreneur’s next investment round is schedule for as soon as late February. Interested entrepreneurs are “welcome to submit their businesses” through the Arabreneur website.
