MENA Startups Invited To Apply For The All New Riyadh Techstars Accelerator Program Selected participants will be able to get access to mentorship from the Techstars and MCIT networks, receive funding for their startups, and attend customized workshops.
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Techstars, a global platform that helps entrepreneurs across the globe to grow and scale their businesses, Raed Ventures, a Saudi Arabia-based venture capital firm, and the Ministry of Communications and Information Technology of the Kingdom of Saudi Arabia have come together to launch a new accelerator program.
In an attempt to further boost the nation's startup ecosystem, The Riyadh Techstars Accelerator is a 13-week program that will take place from November 2021 to February 2022 with an aim to attract startups and entrepreneurs to set up business in the MENA region, and to also attract greater innovation towards the region's digital economy.
Applications for the program will begin on May 10, 2021.
Selected participants will be able to get access to mentorship from the Techstars and MCIT networks, receive funding for their startups, and attend customized workshops and resources.
The accelerator program, Techstar's first in Saudi Arabia, follows a previous collaboration between MCIT and Techstars, which took place in July 2020, which saw the launch of the Techstars Startup Weekend COVID-19 KSA.
The virtually held event saw over 550 Saudi entrepreneurs attend panels, workshops and networking events to discuss and address the various business challenges being faced due to the COVID-19 pandemic.
"Technology and innovation-based entrepreneurship is a key enabler to driving the achievement of Vision 2030, our nation's blueprint for social transformation and economic diversification," said Dr. Ahmed Altheneyan, Deputy Minister for Future Skills and Digital Entrepreneurship. "We have a young population, 70% of whom are youth. These are our digital natives and we want to leverage their energy and curiosity to leapfrog with innovation."
Altheneyan also added, "The Ministry and Techstars will come together to scale the impact of their combined resources and capabilities to truly accelerate digital entrepreneurship, across the Kingdom, where we are already witnessing the growth of a vibrant venture capital investment community, rapid technology adoption, and how digital transformation is allowing companies to reimagine themselves to become more competitive."
Interested startups can find out more about the accelerator program by visiting this link: https://www.techstars.com/accelerators/riyadh
Related: Applications Open For Mohammed Bin Rashid Innovation Fund's Accelerator Program's 2021 Spring Cohort