Palestine’s only startup accelerator announces its latest round
- August 4, 2014
- Posted by: ziad ziadeh
- Category: Blog
The Ramallah-based accelerator, FastForward, recently selected three startups for its latest round of acceleration.
The selected startups will receive $20,000 USD in seed funding and will have access to mentorship, workspace, technological resources, and other educational resources over the course of the four-month acceleration program.
The startups are:
BareedEE, a startup aimed at improving postal services in the Middle East. Founded by Shaher Hussein and Ahmad Abu Omar, BareedEE will allow consumers to ship their packages to nearby businesses for convenient pickup. Users will receive confirmation upon delivery.
Daleeli, an app that tracks the user’s location, provides a guide of the local tourist attractions, and aggregates relevant online content. Founded by Nasser Zalmout and Mohammed Qamhieh, Daleeli also offers an Instagram-esque social network for crowd-sourced attractions.
Red Crow, an online platform that provides MENA-related security intelligence, founded by Hussein Nasser Edin, Laila Akel, and Tayeb Akel. The customizable intelligence platform aims to ensure business continuity and personal safety.
“Leaders Organization has focused its work on supporting Palestine’s economic development. By supporting companies likes Daleeli, BareedEE, and Red Crow through our FastForward Accelerator, we are making a monetary investment in the next generation of Palestinian entrepreneurs, focused on the innovation-based economy, that will place Palestine in the global online marketplace,” said Shadi Atshan, Leaders Organization’s Director, in a press release.
Speaking about the factors that will determine whether the selected startups will be successful, FastForward Project Manager Peter Abualzolof emphasized the importance of strong team dynamics and sound execution.
“Good ideas are a dime a dozen, but those ideas are nothing without execution. It’s a strong team that is able to turn that good idea into a global business,” Abualzolof told Wamda via email. “While adjustments can be made to improve an idea, it is much more difficult to find a team with the right mix of passion, motivation, knowledge, and skills.”
Since its launch in 2013, FastForward has supported the launch of 10 startups. Check out Wamda’s coverage of FastForward’s second round here.