From ag-tech to food distribution, consumer apps, goods and services; Savour is Middle East’s first accelerator focused on everything in food vertical.
Offering investment upto $100,000 ($50,000 capital & $50,000 program cost) to selected startups in exchange for 15-20% equity in the startups, Savour’s 8-week program will be held in Kuwait but they’re accepting applications from all around Middle East and will cover relocation costs for non-Kuwaiti startups which includes air tickets and accommodation for duration of the program. The accelerator will also assist non-Kuwaiti startups in getting visas to stay in Kuwait for the duration of program.
The accelerator is brainchild of Rashid Sultan of Messilah Ventures who has worked with Wendy’s Middle East and Costa Coffee Kuwait to lead their turnaround efforts, Mona Al Mukhaizeem of Sirdab Lab which is one of the most popular startup hub in Kuwait offering different services to aspiring entrepreneurs & Majd Afaghani who has worked with Oasis500 and assisted more than 50 startups in their acceleration.
“We realized the lack of smart capital in the region and despite the recent increase in VC funds, we still see a gap in funding seed rounds. We wanted to contribute in bridging parts of that gap. We also think food innovation and food entrepreneurs aren’t getting the support they deserve even though the food sector is one of the fastest growing sectors in the region. We hope that Savour will fix that.” said Mona Al Mukhaizeem speaking to MENAbytes about inspiration behind starting Savour.
Savour has partnered with Creative Startups to offer their 8-week curriculum that is designed by Stanford educators. Apart from leading curriculum, funding and collaborative co-working space; the accelerator has a lot more to offer which includes world-class mentors with the likes of Talabat’s founder & former CEO Mohammed Jaffar and Carriage’s Co-Founder & CEO, Abdullah Al Mutawa. With their expert investor panels, Savour will also help startups perfect their investment pitches.
The accelerator will accept upto ten applications for its first cohort with classes starting from early October. You may submit your application here; the last date for submission is July 22, 2017. Savour does not have any nationality requirements for the founders. As long as the startup is from any part of the food supply chain including farming, ag-tech, food distribution, retail, wellness, consumer-packaged goods, food-related apps and green/clean tech and is based in the region, its eligible to apply.