Oasis500, a pre-seed and seed fund manager and accelerator, announces the launch of a second fund with the support from the King Abdullah Fund for Development (KAFD), the Innovative Start-ups and SMEs Fund (ISSF) and the Arab Bank.
According to a statement made by KAFD, with the second fund, Oasis500 aims to drive social and economic change by investing up to $100,000 in entrepreneurs to establish ICT and startups from creative industries.
The investment includes a six-month business acceleration program, in addition to a program that offers technical supervision and guidance services from “high-level” mentors, amongst other services.
Moreover, the CEO of Oasis500, Luma Fawaz, announced the launch of a business training program called Oasis500+. The business training program aims to improve the investment readiness of aspiring entrepreneurs and turn their ideas into actionable business plans.
KAFD’s statement also mentioned that by the end of the program, the entrepreneurs will showcase their projects to investors and partners to receive funding and to help their companies grow.
An affiliate of the KAFD, Oasis500 will still continue to support the entrepreneurs even after the acceleration period, with the aim of contributing to the growth of startups, and to also increase the investment values.