Zoomaal launches acceleration program

The Beirut-based crowdfunding platform Zoomaal has launched a new acceleration program in collaboration with Egyptian Flat6labs and Jordanian Oasis 500.

Projects that succeed in crowdfunding through the Zoomaal platform receive matched funds and immediate admission to a business acceleration cycle, said Haifa Yassine, Digital Marketing Officer of Zoomaal. Funding ranges from $10,000 to $30,000 in exchange for five to 20 percent in equity, according to Yassine.

Interested applicants must send a one-minute video pitch to Zoomaal, with a product overview, if available. The accelerators will select from among the projects and will post those that succeed on Zoomaal’s crowdfunding platform, she said.
To be eligible for the program, the project must have a focused objective and the product should have an added value to a target market or community. The project must be implemented and developed with the provided resources, time, and consultation, and under regional, local, legal, and social restrictions. If the project requires prototyping and development, it may benefit from the accelerators’ incubation facilities.
Successful startups will be provided mentorship and development for their projects, business models and plans, and help with their release as viable tech products ready to go into the market.