PR: PlanX, technology accelerator based out of Lahore, has partnered with the Wadi Accelerator (powered by 500 Startups) based in Muscat, Oman. The ‘Oman Accelerator Fund’ will serve a dual purpose as a seed stage fund and acceleration program, founded by Oman Tech Fund.
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PlanX is helping the Wadi Accelerator in scouting startups from Pakistan for their cohort. They invest in and accelerate tech startups to scale them up and connect them to their network of VC’s for further investment.
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The acceleration program is for 3 months in Muscat. The Oman Accelerator Fund will primarily invest in startups that have a ready product, with some user traction and evidence of product/market fit for seed stage funding. The initial ticket size of seed stage funding will be $100,000 USD for 10% equity. They will also offer follow-on investments based on achieved traction performance, which will range from $100,000 – 400,000 USD. The Deadline for applications is April 30th, 2017.
All interested applicants can apply here.
Image source: PlanX