Falak investment hub to foster Mena start-up ecosystem
INDUSTRIAL NEWS
Saudi-based Falak investment hub has emerged as a one-stop shop for startups providing business acceleration programmes, co-working space and Angel investments.
Falak’s offering includes in-kind and direct funding, access to strategic investors and partners, and customised training & workshops to help startups grow, especially those with international expansion plans, a release said.
Now represented by Spread Communications, the full-fledged investment firm supports tech startups enabling them to develop and thrive rapidly through its growth services, partnerships, and business development.
Next unicorns
With a mission to find, enable, and develop the next unicorns in Mena, Falak focuses on multiple programmes, these include:
Falak Angels: A growing network of strategic angel investors, family institutions, and investment entities, that provide financial backing for early-stage Mena startups and co-matching opportunities, in partnership with Saudi Venture Capital.
Falak Programme Management: Advisory and implementation services to the private and public sectors focusing on innovation, investments, and entrepreneurship. Logistics and climate industries come on Falak's list of priorities this year.
Falak Flagship Programme: Recognised as the first investment-backed accelerator in KSA, with one cohort graduating yearly and an acceptance rate of 2%. The programme focuses on customised services and includes 10 Mena startups in each cohort. With three cohorts graduated and the 4th in process, Falak’s programme is rapidly growing at an average of 350%, proving to be a growth engine for promising tech Mena startups.
Partnerships
Moreover, several business and government partnerships that empower entrepreneurs have already been formed, including Standard Chartered Bank, Zoho & Prince Sultan University, BeyondCapital, Google for Startups, and NTDP, a national programme that contributes to developing the technology ecosystem in the kingdom, to name a few.
Currently, Falak is participating at Leap, the largest tech conference in Mena, where they have signed an MoU with Unifonic to offer advanced communication solutions to Falak's startups and have also announced a partnership with Nine66 (a PIF company) to conduct a GameInvest series with Falak Angels.
Additionally, Adwa Al Dakheel, CEO and Founder of Falak Investment Hub is also contributing to a couple of fireside chats and panel discussions.-- TradeArabia News Service
