With assistance from the King Abdullah Fund for Development (KAFD), the Innovative Start-ups and SMEs Fund (ISSF), and the Arab Bank, Oasis500 has announced the opening of a second fund.
According to a KAFD statement, the second Oasis fund invests up to $100,000 in successful entrepreneurs to launch startups in the technology and creative industries with the goal of promoting social and economic change.
A six-month business acceleration program and a program providing technical supervision and guidance services from “high-level” mentors are among the services included in the investment.
According to the statement, entrepreneurs will present their projects to partners and investors at the program’s conclusion in order to obtain post-financing and support the expansion of their businesses.
