Deadline: 20 October 2019
Wamda X, the grant-based fellowship programme for budding entrepreneurs and early-stage startups, is now accepting applications for its second cohort. The four-month programme, taking place in Dubai, aims to identify the Middle East and North Africa’s most promising entrepreneurs and founding teams, whether they are at idea stage or early stages of operation.
The 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.
They have designed an environment to help founders build their startups through a 4-month relationship-focused programme.
- $16k-$30k financial grant: Grant size depends on team size and duration of participation in the programme
- Follow-on investment of $200,000: Wamda reserves the right to invest $200k post programme.
- Relationship-focused: Fellows will be paired with mentors and industry experts from the Wamda network.
- Curriculum light, network heavy: Fellows can focus on building their businesses and taking advantage of their access to the Wamda network.
- Monthly stipend: Progressive stipend that increases with each additional month spent in the programme
- Dubai-based: Dubai-based for first half of programme, location flexibility in the second half.
- No-strings-attached: Wamda or the Fellow may end the participation at any point, with no strings attached.
- More than $10K in-kind benefits: Including 1 year of free work-space access, workshops, perks, and other benefits.
What makes this programme unique
- First money in: Easing barriers to starting a business by reducing dependency on family and friends, often the first people founders go to for financing.
- Bespoke value creation: Curriculum light, mentorship and networking heavy. The programme is about the relationships built with the Core Mentors, Industry experts, peers, and the wider Wamda network.
- Access to Wamda Network: Regardless of whether or not Fellows start a business, they will attain access to the Wamda portfolio, future events, and future cohorts. Fellows will be part of Wamda’s network for life.
- Continuing to finance successful businesses: Businesses will have access to Wamda Capital, negating the need to constantly fundraise externally.
- No Strings Attached: By structuring the investment as a grant, they are alleviating the pains associated with equity, allowing fellows to focus on their businesses.
- Access to space & perks: They will provide working space in Dubai as well as various software and support services at discounted rates for fellows.
How to Apply
Applicants can apply via given website.
For more information, please visit https://www.wamda.com/2019/09/wamda-x-opens-applications-second-cohort-event