Sanabil Investments, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), is launching a new accelerator programme targeting early-stage startups in North Africa and the wider Middle East and North Africa (MENA). The accelerator, a partnership with venture capital firm Orbit Startups, will run bi-annually and focus on key sectors including fintech, healthcare, e-commerce, mobility, and logistics. Each cohort will consist of 10–15 startups, selected from the MENA region and internationally, including companies looking to expand into the region.
Sanabil, which manages over $3bn in annual investments, according to its website, aims to leverage the programme to identify promising early-stage companies. A spokesperson for the firm stated the partnership with Orbit reflects a commitment to “empowering early-stage startups across diverse sectors including technology, healthcare, web3 and mobility.”
Selected startups will receive an initial investment of $100,000, with potential for follow-on funding. The four-month programme will provide support in areas such as sales, marketing, and product development, including an in-person market orientation in Riyadh. Participants will also gain access to Orbit’s network of partners, mentors, and investors.
Orbit Startups has a track record of investing in early-stage companies in China and India and has been expanding its presence in the MENA region. Since 2020, its portfolio in the region has grown to 45 companies. William Bao Bean, managing general partner of Orbit Startups, said the partnership with Sanabil “reinforces our commitment to scaling startups cross-border in the MENA region.”
The Orbit accelerator programme has already completed one cohort and is now beginning the selection process for the second. The initiative comes as Saudi Arabia seeks to develop its non-oil economy and position itself as a regional hub for technology and innovation. By supporting early-stage ventures, particularly in high-growth sectors, Sanabil and Orbit aim to contribute to the growth of the region’s startup ecosystem.
The move also highlights the increasing flow of investment into the MENA startup scene, with both regional and international investors seeking to capitalise on the region’s growing digital economy. The partnership between a PIF-backed entity and an established venture capital firm signals a further maturing of the ecosystem and a commitment to nurturing early-stage businesses.