AstroLabs announces AED240,000 in grants and 115 Google scholarships to support MENA's digital ecosystem
Packages including mentoring sessions from Astrolabs founders and network of skilled mentors
AstroLabs has announced two strategic initiatives - Google Digital Upskill and Startup Acceleration Scholarship Programs, in addition to Tech Startup Grants. Under these two programs, AstroLabs is awarding 100 digital upskill scholarships, 15 start-up acceleration scholarships, and offering AED240,000 in grants for tech startups.
In partnership with Google for Startups, AstroLabs has launched its Digital Upskill and Startup Acceleration Scholarship Programs. The scholarships are designed to support AstroLabs’ mission to grow and develop the digital ecosystem in the MENA region. The Digital Upskill Scholarship gives entrepreneurs an opportunity to take one of AstroLabs’ Open Academy courses in Digital Marketing, eCommerce or Coding at a reduced cost. Successful applicants are selected based on how they plan to use their new-found skills and knowledge to support an individual, a team or even a society. AstroLabs will award 100 such scholarships to deserving candidates. To date, over ten inspiring entrepreneurs have already been awarded their Google Digital Upskill Scholarships.
The Startup Acceleration Scholarship will be awarded to 15 new businesses with proven potential to scale as well as a mission to create a positive impact on the world. Under this program, each winning startup will receive credit for up to four team members to attend one or more of AstroLabs’ training programs. Additionally, each startup will have the opportunity to receive mentorship on specific topics.
AstroLabs is also encouraging the top tech talent of the region that may have lost their jobs during this crisis to start their own companies. AstroLabs is committing AED 240K in grants to support these entrepreneurs to quickly and easily launch their new ventures at a lower price at the most vibrant tech hubs in Dubai and Riyadh. Additionally, AstroLabs is offering direct mentorship from its founders, Louis Lebbos and Muhammed Mekki, its COO, Roland Daher, and its network of mentors and industry experts.
Louis Lebbos, Founding Partner of AstroLabs, is personally committing to being the first investor in at least one of the startups that gets traction by Q4 and likely a couple of others in 2021. He is calling on other investors in the ecosystem to join in and support this group that will build the next wave of tech startups in the MENA region.
The Lebanese startup ecosystem saw an increase of 18% in startup deals between 2018 and 2019, with 45 deals taking place. While the number of investments has gone up, the majority of these involve Early-Stage companies. Discover more details in our 2019 Lebanon Venture Investment Report.