Latest news with #DemoDay
The Sun
4 days ago
- Business
- The Sun
Eight GLCs chosen for Bengkel Inovasi GLC programme with RM10.7 million grants
PUTRAJAYA: Eight government-linked companies (GLCs) have been chosen to participate in the Bengkel Inovasi GLC (BIG) programme, a joint initiative by the Ministry of Finance (MOF), the Ministry of Science, Technology and Innovation (MOSTI), and Cradle Fund Sdn Bhd. Each selected GLC will receive matching grants of up to RM2 million, totalling RM10.7 million in funding. The participating GLCs are Bank Islam, CelcomDigi, EDOTCO, Malaysia Aviation Group, Sime Darby Property, S P Setia, Tenaga Nasional Bhd, and Cenviro. According to Cradle, the selection was based on their use of innovative digital technology and artificial intelligence (AI) to improve operational efficiency and business growth. 'The selection of the GLCs is based on the use of innovative digital technology and artificial intelligence (AI) that have been highlighted and have high potential to enhance operational efficiency, support business growth and scaling in their respective industries,' said Cradle. MOSTI Minister Chang Lih Kang emphasised that BIG aligns with the government's efforts to bridge the gap between startups and corporations. 'MOSTI is proud to support this initiative through the National Technology and Innovation Sandbox (NTIS) and our deep tech network,' he said. Finance Minister II Datuk Seri Amir Hamzah added that the programme aims to foster corporate innovation and strengthen ties between GLCs and startups. 'If successful, the MOF hopes to expand this programme to the private sector in the future,' he said. Over the next six months, the selected GLCs will work with startups and business developers under two tracks: the Venture Client Track and Venture Co-Creation Track. They will develop proof-of-concept projects to be showcased in a Demo Day session. Startups interested in collaborating with the GLCs can register via the BIG website at - Bernama
Sharjah 24
23-06-2025
- Business
- Sharjah 24
Sheraa celebrates graduation of entrepreneurs
Focus on scaling, securing, and supporting startups In exclusive remarks to Sharjah 24, Hessa Ahmed explained that the programme focuses on three core pillars: scaling, securing, and supporting. She pointed out that the programme received over 2,300 applications from more than 75 countries around the world, reflecting Sharjah's growing reputation as a global hub for entrepreneurship. Impressive revenue and investment milestones She noted that the total revenue generated by companies within the programme exceeded USD 21 million, while investments and funding raised surpassed USD 19 million. During the event, nine startups developed over a six-month period were showcased, covering four vital sectors: technology, education, the creative industries, and sustainability. The founders presented their business models to a group of investors and industry experts. A milestone in Sheraa's entrepreneurial ecosystem The programme specialist added that 'Demo Day' marks a pivotal milestone in the programme's journey, highlighting the significant effort dedicated to empowering startups and transforming their ideas into viable, scalable, and sustainable ventures within a comprehensive entrepreneurial ecosystem.
Mid East Info
19-06-2025
- Business
- Mid East Info
500 Global and Sanabil Investments Announce Batch 9 of the Sanabil Accelerator by 500 Global - Middle East Business News and Information
Nine companies will present live at Demo Day on July 2, 2025, at Sanabil Hub in Riyadh RIYADH, Saudi Arabia: 500 Global, a multi-stage venture capital firm, and Sanabil Investments, a financial investment company wholly owned by the Public Investment Fund (PIF), announce the ninth batch of the Sanabil Accelerator by 500 Global. This new cohort aims to foster innovation and drive growth across various sectors, including AI, Fintech, Edtech, Climate Tech, SaaS, and Proptech. Out of 850+ applications received, nine promising companies have been selected for their potential to drive innovation and address critical market needs. Demo Day will take place on Wednesday, July 2, 2025, at Sanabil Hub in Riyadh, with a curated group from the venture capitalist community in attendance. Building on the success of past batches and the acceleration of 98 startups, the program continues to evolve. This year's program included new elements designed to provide a more personalized and focused experience throughout the 12-week journey, helping startups leapfrog and scale. 'Since the inception of the accelerator program we have focused on investing and supporting founders that are aiming to disrupt the norms in the sectors and markets they operate in. As we progress in our batches, we see a better understanding from founders of the challenges regional and global markets face, as well as a deeper focus on developing the solutions they create to be more user-centered. We believe that this evolution of market expertise, paired with improved access to technical expertise and resources, has poised these founders with the unique potential to help build startups ready to scale. We are very honored to have every founder in this batch and can't wait to see them thrive and grow,' said Amal Dokhan, Managing Partner at 500 Global MENA. 'Our leadership within the venture capital community is reinforced as more entrepreneurs apply to Sanabil Accelerator by 500 Global than ever before, seeking support to develop their ideas and achieve success in Saudi Arabia and abroad. We are attracting and enabling the brightest minds and best technologies that are improving people's lives worldwide, fortifying the economy, and making the world a better place for all. We can't wait to show the region and the world this next wave of innovators, thinkers, and builders,' said a spokesperson at Sanabil Investments. The following is the list of Batch 9 companies that have made it through to the final round: CarbonSifr – AI sustainability platform enabling businesses to easily measure and reduce their emissions. – AI sustainability platform enabling businesses to easily measure and reduce their emissions. Endl – A stablecoin powered cross border payment platform with instant settlement and minimal fees. – A stablecoin powered cross border payment platform with instant settlement and minimal fees. Feesable Technologies – Gives SMEs upfront cash for unpaid invoices with same-day credit decisions. – Gives SMEs upfront cash for unpaid invoices with same-day credit decisions. LIVSHO – A live-shopping marketplace where sellers auction products in real-time livestreams, turning viewers into instant buyers. – A live-shopping marketplace where sellers auction products in real-time livestreams, turning viewers into instant buyers. Raff – Bridges the gap between sellers and retailers, offering a single platform that simplifies offline/online distribution and inventory management – Bridges the gap between sellers and retailers, offering a single platform that simplifies offline/online distribution and inventory management ReMatch – Enables real estate agents to share their buyers and listings with each other to turn lost deals into closed ones. – Enables real estate agents to share their buyers and listings with each other to turn lost deals into closed ones. Schedex – A workforce management tool that cuts labor costs for F&B businesses by up to 15%. – A workforce management tool that cuts labor costs for F&B businesses by up to 15%. TwentyToo – Enables retailers to anticipate market demand and optimize pricing strategies by analyzing real -time performance data across millions of SKUs. – Enables retailers to anticipate market demand and optimize pricing strategies by analyzing real -time performance data across millions of SKUs. Vennre – A wealth creation platform that gives high-earners access to private market investments, previously reserved for institutional investors. With the ninth program group concluding in July, applications for the tenth cohort are open. Startups from across the MENA region are invited to join a growing community of ambitious founders shaping the future of innovation in the region.
Time of India
19-06-2025
- Business
- Time of India
Israeli coder Maor Shlomo sells six-month AI startup Base44 to Wix for $80M in landmark all-cash deal
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Israeli coder Maor Shlomo sold his six‑month‑old, self‑funded startup Base44 to Wix for $80 million in cash. The deal, announced June 18, marks a striking example of how AI and 'vibe coding' are empowering individuals and not just big teams to build the next generation of softwareAt 31, Shlomo isn't new to success. Fresh off his AI analytics venture, Explorium , which raised around $125 million and was backed by Insight Partners, he started Base44 as a side project post-IDF reserve duty in late 2024.'It began as something I'd tinker with,' he told CTech. By January, it had coalesced into a legit lets anyone create full-featured web and mobile apps simply by describing what they want, no code, no developer team required. Users draft 'prompts' like they would chat with ChatGPT, and Base44 handles authentication, databases, analytics, email, and even mapsIn May alone, it generated a $189,000 profit, impressive, given high LLM token traction was rapid, 100,000 users in weeks, scaling to over 250,000 within months. Partnerships with eToro and Similarweb followed, and AWS spotlighted Demo Day invitesOn LinkedIn, Shlomo shared early struggles and tips, 'Push to production 13 times a day stability is not perfect, but good enough,' he wroteWix, known for no‑code website tools, aims to fold Base44 into its offerings without disrupting its identity. Shlomo, now a Wix employee, assured users on X that 'nothing changes too much , better support, faster product velocity, B2B features.'Wix confirmed an additional $25 million retention bonus for Base44's eight-person teamAs Shlomo told Calcalist, 'Wix is probably the only company that can help us scale and distribute globally without slowing down our development.'Base44's rapid rise and impressive sale price have been the talk of the vibe-coding community.
Business Wire
19-06-2025
- Business
- Business Wire
500 Global and Sanabil Investments Announce Batch 9 of the Sanabil Accelerator by 500 Global
RIYADH, Saudi Arabia--(BUSINESS WIRE)--500 Global, a multi-stage venture capital firm, and Sanabil Investments, a financial investment company wholly owned by the Public Investment Fund (PIF), announce the ninth batch of the Sanabil Accelerator by 500 Global. This new cohort aims to foster innovation and drive growth across various sectors, including AI, Fintech, Edtech, Climate Tech, SaaS, and Proptech. Out of 850+ applications received, nine promising companies have been selected for their potential to drive innovation and address critical market needs. Demo Day will take place on Wednesday, July 2, 2025, at Sanabil Hub in Riyadh, with a curated group from the venture capitalist community in attendance. Building on the success of past batches and the acceleration of 98 startups, the program continues to evolve. This year's program included new elements designed to provide a more personalized and focused experience throughout the 12-week journey, helping startups leapfrog and scale. 'Since the inception of the accelerator program we have focused on investing and supporting founders that are aiming to disrupt the norms in the sectors and markets they operate in. As we progress in our batches, we see a better understanding from founders of the challenges regional and global markets face, as well as a deeper focus on developing the solutions they create to be more user-centered. We believe that this evolution of market expertise, paired with improved access to technical expertise and resources, has poised these founders with the unique potential to help build startups ready to scale. We are very honored to have every founder in this batch and can't wait to see them thrive and grow,' said Amal Dokhan, Managing Partner at 500 Global MENA. 'Our leadership within the venture capital community is reinforced as more entrepreneurs apply to Sanabil Accelerator by 500 Global than ever before, seeking support to develop their ideas and achieve success in Saudi Arabia and abroad. We are attracting and enabling the brightest minds and best technologies that are improving people's lives worldwide, fortifying the economy, and making the world a better place for all. We can't wait to show the region and the world this next wave of innovators, thinkers, and builders,' said a spokesperson at Sanabil Investments. The following is the list of Batch 9 companies that have made it through to the final round: CarbonSifr – AI sustainability platform enabling businesses to easily measure and reduce their emissions. Endl – A stablecoin powered cross border payment platform with instant settlement and minimal fees. Feesable Technologies – Gives SMEs upfront cash for unpaid invoices with same-day credit decisions. LIVSHO – A live-shopping marketplace where sellers auction products in real-time livestreams, turning viewers into instant buyers. Raff – Bridges the gap between sellers and retailers, offering a single platform that simplifies offline/online distribution and inventory management ReMatch – Enables real estate agents to share their buyers and listings with each other to turn lost deals into closed ones. Schedex – A workforce management tool that cuts labor costs for F&B businesses by up to 15%. TwentyToo – Enables retailers to anticipate market demand and optimize pricing strategies by analyzing real -time performance data across millions of SKUs. Vennre – A wealth creation platform that gives high-earners access to private market investments, previously reserved for institutional investors. With the ninth program group concluding in July, applications for the tenth cohort are open. Startups from across the MENA region are invited to join a growing community of ambitious founders shaping the future of innovation in the region. Apply here. About 500 Global 500 Global is a multi-stage venture capital firm with $2.3B in assets under management as of May 2025 that invests in founders building fast-growing technology companies. We focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. We work closely with key stakeholders and advise governments on how best to support entrepreneurial ecosystems so startups can thrive. 500 Global has backed over 5,000 founders representing more than 3,000+ companies operating in 80+ countries. We have invested in more than 35+ companies valued at over $1 billion and 160+ companies valued at over $100 million (including private, public, and excited companies). Our 160+ team members are located in 20 countries and bring experience as entrepreneurs, investors, and operators from some of the world's leading technology companies. About Sanabil Investments Sanabil is a financial investment company wholly owned by the Public Investment Fund (PIF). We commit more than USD 3 billion in capital annually into global private investments, including VC/growth and small buyout assets. We are a dynamic, nimble, and highly experienced team of investment professionals. We provide partners with patient capital, the ability to invest across multiple funding rounds, and access to the region. At Sanabil, we invest in great ideas, minds, and companies. For more information, please visit DEMO DAY IS AN INVITATION-ONLY EVENT AND THE INTENDED AUDIENCE FOR THIS EVENT IS LIMITED TO "ACCREDITED INVESTORS" AS DEFINED IN REGULATION D UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MEMBERS OF THE PRESS. ALL CONTENT PROVIDED IN THE EVENT IS PROVIDED FOR GENERAL INFORMATIONAL OR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSTRUED AS INVESTMENT, LEGAL, TAX OR ACCOUNTING ADVICE BY 500 GLOBAL OR ANY OF ITS AFFILIATES OR AS AN OFFER TO SELL OR SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES. NO CONTENT OR INFORMATION CONTAINED IN THE EVENT IS OR IS INTENDED AS AN OFFER TO PROVIDE ANY INVESTMENT ADVISORY SERVICE OR FINANCIAL ADVICE BY 500 GLOBAL. 500 GLOBAL MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR INFORMATION CONTAINED IN THIS DEMO DAY AND NO LIABILITY CAN BE ACCEPTED FOR ANY ERROR OR OMISSIONS. UNDER NO CIRCUMSTANCES SHOULD ANY CONTENT HEREIN OR IN THE EVENT BE CONSTRUED AS FUND MARKETING MATERIALS BY PROSPECTIVE INVESTORS CONSIDERING AN INVESTMENT INTO ANY 500 GLOBAL INVESTMENT FUND. INCLUSION AS A PRESENTING COMPANY IN DEMO DAY DOES NOT NECESSARILY CONFIRM INVESTMENT BY A 500 GLOBAL FUND IN SUCH COMPANY. 500 GLOBAL HAS NOT TAKEN ANY ACTIONS TO QUALIFY THE DISTRIBUTION OF THE EVENT UNDER THE SECURITIES LAWS OF ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS OUTSIDE OF THE UNITED STATES WHO VIEW THE EVENT MUST OBSERVE ANY APPLICABLE LAWS AND RESTRICTIONS RELATING TO VIEWING THIS EVENT AND ANY RELATED ACTIVITIES OUTSIDE OF THE UNITED STATES.
