1 Billion Followers Summit And Shorooq Join Forces To Fund AED 50 Million For Innovative Startups

The 1 Billion Followers Summit, a major content-focused event, has teamed up with Shorooq to offer AED 50 million for the 1 Billion Pitches competition. This initiative allows startups and individuals with innovative ideas to present them to top investors and companies, aiming for funding and support. Shorooq, an Abu Dhabi-based investment firm, will provide AED 30 million, while the summit contributes AED 20 million.

Twenty-five startups and individuals have advanced to the pre-final round of the competition. The final stage will see ten contenders vying for first and second place, receiving funding and support for their concepts. Winners will be announced during the summit's third edition in Dubai from January 11th to 13th, under the theme "Content for Good."

Shorooq is a key player in MENA's investment landscape, focusing on venture capital and private credit. They partner with visionary founders across various sectors in growth markets. Their portfolio includes over 80 companies generating more than US $500 million in revenue across fintech, software, deep tech, and platforms.

Shorooq collaborates with regional and global investors like Mubadala and Saudi Venture Capital (SVC). Their portfolio boasts a gross equity value of US $5 billion. Notable investments include Pure Harvest in sustainable agriculture, Tamara's Buy-Now-Pay-Later platform in Saudi Arabia, and TruKKer’s logistics solutions.

The competition's shortlisted projects span education, technology innovation, women's empowerment, creativity, community development, literature, entrepreneurship, healthcare, social media, and creative content. Among them are Bump (USA), Atlaseek (UAE), Trugetherness (Singapore), Ad-Shield (South Korea), and SoSquared (UK).

Additional projects include the Arabic Archive Project (Egypt) digitising historical press clippings; Hubee (Brazil) offering design services; PenSell (UAE) revolutionising content creation; Division (UAE) connecting brands with gamers; HelloCreator (USA) providing creator insights; Eugenius (South Korea) producing TV shows; Halo AI (UAE) streamlining influencer marketing; EPL World (UAE) connecting fans with English Premier League content.

Empowering Content Creators

Mahmoud Adi of Shorooq stated: "We are honoured to partner with the 1 Billion Followers Summit... We are confident this partnership will deliver funding and investment solutions that empower content creators." Alia AlHammadi of New Media Academy added: "The third edition of the 1 Billion Followers Summit will attract numerous creatives seeking funding... Our partnership with Shorooq underscores our commitment to fostering knowledge."

The competition aims to support creatives by motivating them to develop transformative ideas for the content industry. It seeks to drive a knowledge-based economy by helping creators scale their ideas into viable businesses through strategic partnerships.

Diverse Global Participation

Other notable projects include Shooty (UAE), Ta Marboota (UAE), Unreel Network (UK), Voral Media (UAE), Lobster Money (UK), Livelogue (UK), Verix (India), ReadCoin (UAE), The Middle Frame (Jordan), Majarah (UAE), Stashem (USA), Tubelator (Pakistan). These projects highlight diverse global participation aiming at impactful content creation.

The summit aims to reach over a billion people worldwide by bringing together top global social media influencers. It explores how new media can drive positive societal change and fuel sustainable economic growth for nations.

With inputs from WAM