Riyadh. Saudi Arabia is hastening its digital transformation push, with a focus on start-ups, as it banks on technology to power its future economy. AFP
Riyadh. Saudi Arabia is hastening its digital transformation push, with a focus on start-ups, as it banks on technology to power its future economy. AFP
Riyadh. Saudi Arabia is hastening its digital transformation push, with a focus on start-ups, as it banks on technology to power its future economy. AFP
Riyadh. Saudi Arabia is hastening its digital transformation push, with a focus on start-ups, as it banks on technology to power its future economy. AFP

Saudi start-ups at the forefront of new Sanabil 500 accelerator programme


Alvin R Cabral
  • English
  • Arabic

Sanabil Investments, a financial company wholly owned by Saudi Arabia's Public Investment Fund, and US venture fund 500 Global have welcomed a new batch of start-ups for their Middle East and North Africa seed accelerator programme, with the kingdom the most represented for the first time.

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The fourth cohort of the initiative, called Sanabil 500, will offer 15 selected start-ups an opportunity to receive mentorship on business development and fund-raising, which they can use in developing solutions to address real-life issues, Sanabil and 500 Global said in a joint statement on Monday.

Saudi Arabia is being represented by six start-ups, followed by the UAE and Egypt with four each, cementing their positions as the top-three markets for start-up activity in Mena.

Oman has one start-up in the fourth edition of the programme, which will feature the financial, food and beverage, agriculture, health, insurance and media industries.

The move is indicative of the potential of the region's start-up ecosystem, particularly Saudi Arabia's, despite global economic challenges, said Amal Dokhan, general partner at 500 Global Mena.

“The growing interest is a testament to the unwavering commitment among start-ups to innovate and develop effective solutions to everyday issues.

“The increased participation from the top-three geographies is a positive indication to the deepening entrepreneurial drive in Saudi Arabia and the Mena region.”

The start-up sector has grown exponentially over the past few years as entrepreneurs use innovation to address consumer needs. They are also increasingly seeking funding from global investors to accelerate their development.

The sector's growth has risen in tandem with the increase in digitalisation in key sectors such as retail, services, e-commerce and government.

Venture capital funding for start-ups in Mena rose 20 per cent annually to more than $2.3 billion in the first three quarters of 2022, putting it on track to potentially surpass the total investment attracted in 2021, an October study by data start-up platform Magnitt found.

Egypt, the UAE and Saudi Arabia retained the top-three positions in both funding value and number of deals, capturing more than 75 per cent of overall Mena investment, Magnitt said.

The kingdom, in particular, is hastening its digital transformation push, with a focus on start-ups, as it banks on technology to power its future economy.

Venture capital funding in the Arab world's largest economy surged more than threefold to $584 million in the first half of this year, surpassing the total for the whole of last year, Magnitt said in a recent report.

The UAE, meanwhile, has introduced several initiatives to boost the start-up sector. This has resulted in supporting funding, which rose about 5 per cent in the third quarter to $148 million, from $141 million a year ago, according to Magnitt.

The increased participation from the top-three geographies is a positive indication to the deepening entrepreneurial drive in Saudi Arabia and the Mena region
Amal Dokhan,
general partner at 500 Global Mena

Egypt, on the other hand, has been described “a strong market of talent”, Courtney Powell, 500 Global’s chief operating officer and managing partner, told The National last week as it opened its office in Cairo.

About 600 start-ups filed applications for the 12-week Sanabil 500 programme, with more than a quarter hailing from Saudi Arabia.

The initiative, which was launched in September 2021, has helped 39 start-ups graduate, a “testament to the unwavering commitment among start-ups to innovate and develop effective solutions to everyday issues”, Ms Dokhan said.

Sanabil Investments, based in Riyadh, has $8 billion in paid-up share capital and is committed to about $2 billion in capital per annum in private investments that include venture, growth capital and small buyouts.

San Francisco-based 500 Global, meanwhile, has about $2.7 billion in assets under management. It has supported more than 5,000 start-up founders representing more than 2,700 companies in 81 countries.

What is the Supreme Petroleum Council?

The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.

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Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

How to improve Arabic reading in early years

One 45-minute class per week in Standard Arabic is not sufficient

The goal should be for grade 1 and 2 students to become fluent readers

Subjects like technology, social studies, science can be taught in later grades

Grade 1 curricula should include oral instruction in Standard Arabic

First graders must regularly practice individual letters and combinations

Time should be slotted in class to read longer passages in early grades

Improve the appearance of textbooks

Revision of curriculum should be undertaken as per research findings

Conjugations of most common verb forms should be taught

Systematic learning of Standard Arabic grammar

From Zero

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Rating: 4/5

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
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Drishyam 2

Directed by: Jeethu Joseph

Starring: Mohanlal, Meena, Ansiba, Murali Gopy

Rating: 4 stars

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%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
Bharatanatyam

A ancient classical dance from the southern Indian state of Tamil Nadu. Intricate footwork and expressions are used to denote spiritual stories and ideas.

THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

Mia Man’s tips for fermentation

- Start with a simple recipe such as yogurt or sauerkraut

- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.

- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.

- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.

 

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Panipat

Director Ashutosh Gowariker

Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment

Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman

Rating 3 /stars

FA CUP FINAL

Manchester City 6
(D Silva 26', Sterling 38', 81', 87', De Bruyne 61', Jesus 68')

Watford 0

Man of the match: Bernardo Silva (Manchester City)

Why are asylum seekers being housed in hotels?

The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.

A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.

Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.

The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.

When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.

UAE currency: the story behind the money in your pockets
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Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

Match info

Wolves 0

Arsenal 2 (Saka 43', Lacazette 85')

Man of the match: Shkodran Mustafi (Arsenal)

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The biog

Name: Dhabia Khalifa AlQubaisi

Age: 23

How she spends spare time: Playing with cats at the clinic and feeding them

Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need

Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman

Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs 

Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing

UAE currency: the story behind the money in your pockets

The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

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Price: Exact regional pricing TBA

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

Ruwais timeline

1971 Abu Dhabi National Oil Company established

1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants

1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed

1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.  

1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex

2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea

2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd

2014 Ruwais 261-outlet shopping mall opens

2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies

2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export

2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.

2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery 

2018 NMC Healthcare selected to manage operations of Ruwais Hospital

2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13

Source: The National

Sri Lanka-India Test series schedule
  • 1st Test India won by 304 runs at Galle
  • 2nd Test Thursday-Monday at Colombo
  • 3rd Test August 12-16 at Pallekele
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Updated: December 06, 2022, 9:28 AM`