Riyadh Techstars Accelerator

Riyadh Techstars Accelerator is a technical program approved by the Ministry of Communications and Information Technology, in partnership with the global Techstars network. It aims to accelerate the businesses of digital startups in the Kingdom of Saudi Arabia and invest in early-stage projects, from inception to growth. This initiative aligns with the targets of the Communications and Information Technology Strategy and the core pillars of Saudi Vision 2030.

The first Riyadh Techstars Accelerator program was launched on November 7, 2021. Based in Riyadh, the capital of the Kingdom, it ran for four months and adopted twelve technology startups at the start of their journey toward growth and expansion.

Riyadh Techstars Accelerator supports innovative and scalable startups with well-rounded teams to enhance their growth and commercial success. It accelerates the adoption of digital technologies and facilitates market expansion, recognizing the importance of digital entrepreneurship as a vital contributor to the tech economy, a driver of the Fourth Industrial Revolution, and a platform for promising investments. This support aligns with the strategy for comprehensive digital transformation.

In its first program, Riyadh Techstars Accelerator adopted twelve startups, enabling them to expand their businesses and form diverse partnerships. The projects participating in the programs received funding of SAR450,000 (USD120,000) in partnership with Raed Ventures Investment Fund and the National Commercial Bank.

The accelerator provided startups with access to mentors from the global Techstars team and partners, encompassing a wide network that includes 150 countries and twenty thousand experts and mentors. Through lectures and meetings, the accelerator facilitated the sharing of knowledge and expertise in areas such as marketing, investment, and product design.

Additionally, the accelerator offered opportunities to establish relationships with other promising startups, enabling Saudi companies under the umbrella of Riyadh Techstars Accelerator to join a carefully curated community of successful businesses.