C5 launches startup accelerator for MENA
Cloud 10 Scalerator will use Amazon cloud to help new businesses to expand
Technology investment company C5 Accelerate has launched a new accelerator for startups in the MENA region, utilising Amazon Web Services.
The ‘Cloud 10' Scalerator program aims to create 300 tech companies across the region in the next four years.
C5 Accelerate is a technology investment company with offices in the UK, Luxembourg, South Africa and Bahrain. Early stage startups in the MENA region can apply to the program, and C5 will select the best, revenue-generating companies and provide a three month program of intensive mentorship and practical tools to help scale the business.
A key part of the accelerator program is using cloud capabilities provided by Amazon, including the AWS Activate package, to rapidly scale up infrastructure and organisation. The Activate package includes AWS credits, training, developer support, and a community forum, as well as AWS Professional Services.
In addition the Cloud 10 programme also provides a cloud computing academy to train young people, business executives and officials in cloud architecting, solution and coding skills to create new jobs.
Hadyah Fathalla, executive director of C5, said: "Our aim with the Cloud 10 programme was to create a platform that allows exciting new disruptive technology companies to flourish. The MENA region has huge potential for growth in this area but is under-developed in terms of support for technology firms. So we created the Cloud 10 ‘Scalerator' which works in a similar way to a mini MBA, essentially we closely mentor these companies through a series of structured coaching sessions and give them access to an international network of investors and business contacts."
Teresa Carlson, vice president, Worldwide Public Sector of Amazon Web Services, added: "This is an exciting time for innovation and economic development in the Middle East and Africa. Cloud computing is the new normal and we are proud support C5 as they launch the C5 Cloud 10 Accelerator. This provides an opportunity for start-ups across the region to grow and new businesses to scale to reach markets around the world."
Cloud 10 operates as a 3 month rolling programme which is divided into a series of ‘sprints' or tutorials that cover all aspects of scaling up a technology business such as operational scaling and business planning; customer acquisition and marketing; management and governance; product development and accessing investment. The programme is delivered by a resident CTO and supported by a highly experienced group of prominent international tech entrepreneurs, business leaders and investors.