2019 Wamda X grant-based programme for founders in the MENA region
Deadline: January 20, 2019.
Wamda is a platform of integrated programs that aims to accelerate entrepreneurship ecosystems throughout the MENA region. Its core focus includes media, community development, research, corporate, and government advisory services.
Wamda X is a grant-based programme for founders with the aim to safe-route the often financially grueling and solitary path to entrepreneurship.
They have designed an environment to help founders build their startups through a 4-month relationship-focused programme.
Their goal is to co-found businesses with Fellows by providing them with grants and opening up the Wamda network of mentors to help ease the process of starting and scaling a business. Wamda X will be the initial financiers for founders and offers access to Wamda Capital, which can continue financing these businesses as they grow.
1. They are here to help co-found businesses from their earliest stages.
2. Be it an idea or a revenue generating startup, they want to be a part of it.
Successful businesses are often started by mature founders who have several years of work experience but do not conform to the status quo.
3. They are looking for mature professionals who have a knack for solving market failures and those who embody leadership and efficient problem-solving qualities.
4. The qualities that make a great entrepreneur are often present before they even start a business. The best businesses are founder-run, so Wamda X is looking to partner with these founders from the early days of starting up.
- $16k grant: Converts into 5% only if a business is formed.
- 4 month programme: 2 month emphasis on building early team while in Dubai, and 2 months on solidifying idea.
- $100k follow-on: Wamda reserves the right to invest $100k for 10% post programme.
- Dubai-based: Dubai-based for first half of programme, location flexibility in the second half.
- Relationship-focused:Fellows will be paired with mentors and a “Buddy” from the Wamda Capital team.
- Monthly renewable programme: Wamda or the Fellow may end the participation at any point, with no strings attached.
1. Based on their ability to think critically about a problem and solve it in a smart manner.
2. Ability to work under stress.
3. Ability to work with their peers and how driven they are to solve a market failure.