Pre-seed investor Techstars declares resumption of Riyadh startup plan

(MENAFN) The organizers of The Riyadh Techstars Accelerator declared the continuance of the startup plan in 2023 following positively finishing the initial edition last year with investments in 11 portfolio firms from Saudi Arabia as well as the expanded Middle East and North Africa area.

The 13-week plan, which is going to occur from June up to September this year, is directed by pre-seed investor Techstars in cooperation with Saudi Arabia’s Ministry of Communications and Information Technology, RAED Ventures and Saudi National Bank.

Saudi Minister for Communications and Information Technology Abdullah Alswaha stated that the nation’s tech market has expanded massively during the years and is currently valued at over USD40 billion with more than 318,000 employment opportunities in the industry.

“The nation is also making significant strides in enabling diversity in the workforce with more and more women employed in the ICT industry. Agility and resilience, powered by talent and technology, have enabled Saudi Arabia to reach new heights,” he added.


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