Seven young technology companies from the GCC region traveled to London, UK, recently to pitch for $10 million in funding. The pitching was done in front of a panel of investors as part of the Cloud 10 technology accelerator program or Scalerator, powered by Amazon Web Services (AWS).
The companies pitched to a panel of high profile international investors that included: Atkins Global, HSBC Private Bank, Standard Chartered Private Bank, C5 Family Offices and C5 Cloud Partners. The companies pitched for a combined amount of $10 million.
During the meetings, the companies presented their elevated business plan, requirements for investment and had a valuable opportunity to network with some of the world’s most experienced professional technology investors. This pitch day represents the culmination of the first Cloud 10 Scalerator program that has taken bright, young, tech firms from across the MENA region (that are revenue generating) and provided them with a highly structured 3-month program of intensive mentorship.
This gives them the practical tools to rapidly scale their businesses and given them access to investors. The aim of the Cloud 10 program is to create 300 EMEA technology champions over the next 4 years. Teresa Carlson, Vice President, Worldwide Public Sector of Amazon Web Services, said, “This pitch day is an exciting milestone for the Cloud 10 program’s seven technology start-ups. These companies will come together from across the Middle East and Africa to share their accomplishments over the last several months, and we are so pleased to help take their innovative ideas from a vision to reality with the AWS Cloud.”