Riyadh Techstars Accelerator

Overview

The Riyadh Techstars Accelerator is a venture capital firm operating an accelerator program in Riyadh, Saudi Arabia, focusing on early-stage startups in the Middle East and North Africa. The program is a collaboration between Techstars, the Ministry of Communications and Information Technology (MCIT) of Saudi Arabia, Raed Ventures, and the Saudi National Bank (SNB). It aims to support entrepreneurs in building and growing their businesses within the region's digital economy. The accelerator offers a 13-week program that includes funding, mentorship, workshops, and access to a global network of partners, investors, and alumni. Startups admitted into the program receive $120,000 in exchange for 6% equity. The program has a strong emphasis on sectors such as artificial intelligence, education technology, e-commerce, and health technology. Notably, 50% of the startups in the 2023 cohort had female founders or CEOs. Since its inception, the Riyadh Techstars Accelerator has successfully supported numerous startups, contributing to the growth and diversification of the Middle East and North Africa's startup ecosystem. The program's partnership with MCIT underscores its commitment to fostering innovation and entrepreneurship in line with Saudi Arabia's Vision 2030, which aims to promote the information and communication technology sector's role in building a digital society and economy.

Investment Focus

• Early-stage technology startups in the Middle East and North Africa region

Portfolio Companies