HASAN Sets Stage for Halal VC Fund and Accelerator Launch in 2024

HASAN, an integral part of the Ethis Group, has launched its venture capital and accelerator program designed to propel startups in the halal economy. The HASAN Accelerator offers an engaging 8-week online program, set to run every six months for the next two years, focusing on key regions in the Muslim world.

The initiative aims to empower innovative startups with a distinctively holistic approach, combining financial support with crucial strategic advisory services, mentorship, and access to a large database of over 60 million Muslims through its partners. Investments cover a range from tech to halal lifestyle, with funding between USD 60K and USD 250K.

“We are leveraging a decade of experience in the Islamic economy and a strong network of institutional investors and industry leaders; which paves the way for HASAN to emerge as a central hub for both startups and investors in the halal sector,” stated Mohd Akhtaar, Head of Accelerator & Investor Relations at HASAN. “Our deep-rooted expertise positions us as a key player in nurturing growth and driving investment within the vibrant halal market.”

“This integrated model addresses a key challenge faced by Muslim-owned startups: the need for a comprehensive ecosystem within the halal economy that simultaneously provides capital and strategic guidance,” said Umar Munshi, Managing Partner of HASAN Venture Capital & Group MD of Ethis.

By offering both, HASAN effectively fills a critical gap, eliminating the common struggle startups face in separately seeking funds and advice. This makes HASAN’s initiative timely, especially with the ongoing market correction, setting a new standard in startup support.

The Accelerator is launching an 8-week online program specifically targeting scalable startups, carefully selecting top contenders. Each cycle, 10 startups will receive funding for an equity stake in line with global industry standards. Participants also gain from an ongoing support system, including biannual evaluations and backend management. The program’s highlight is an annual Demo Day, where graduates showcase their progress to a network of institutional and angel investors, as well as external funding partners.

Through these initiatives, HASAN is committed to not just funding but also actively nurturing startups in key emerging markets.