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Riyadh Techstars Accelerator Program To Continue In 2023

The startup funding initiative will work with entrepreneurs to grow and scale MENA companies.

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riyadh techstars accelerator program to continue in 2023

After wrapping up the inaugural round of The Riyadh Techstars Accelerator in 2022 with investments in 11 portfolio businesses, the program’s organizers have confirmed the continuation of the initiative for 2023.

The Saudi Arabian Ministry of Communications and Information Technology, Saudi National Bank, and RAED Ventures will come together for the pre-seed investor round, comprising a 13-week program that will run from June through to September 2023.

According to a recent press release, 2023’s Riyadh Techstars Accelerator will work with entrepreneurs to establish and expand innovative companies in the MENA region while developing a comprehensive entrepreneurial ecosystem. Saudi Arabia’s IT sector — currently worth over $40 billion and supporting over 318,000 jobs — is quickly becoming a leading global force.

“The nation is also making significant strides in enabling diversity in the workforce, with more women employed in the ICT industry. Agility and resilience, powered by talent and technology, have enabled Saudi Arabia to reach new heights,” says Abdullah Alswaha, Minister of Communications and Information Technology.

Also Read: How To Find The Best Remote Work Opportunities In The Middle East

Startups from across the Middle East and Saudi-based entrepreneurs can now submit their applications to the 2023 Riyadh Techstars Accelerator. This year’s event promises a packed schedule of fundraising opportunities, workshops, mentorship, and networking.

“I am enthusiastic about the growth of the Saudi Arabian and broader Middle East startup ecosystem. Between the Kingdom’s investment in entrepreneurship and its central location, Riyadh can attract global startup talent for the entire region. Part of what we do at Techstars is to help founders connect their innovation with the rest of the world,” says Maëlle Gavet, CEO of Techstars.

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Abu Dhabi To Develop $1 Billion eSports Island Facility

Positioned along the picturesque Al Raha beach, the venue is poised to become a focal point for gaming enthusiasts worldwide.

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abu dhabi uae to develop $1 billion esports island facility
True Gamers

Despite the economic slowdown of global eSports, the Middle East has emerged as a beacon of innovation and investment, particularly in infrastructure aimed at attracting top talent. According to a report by BCG, the region’s population exhibits a remarkable fondness for gaming, with over 60% actively participating and some of the highest figures of mobile game downloads in the world.

The latest addition to the UAE’s burgeoning eSports landscape is Abu Dhabi’s ambitious eSports Island project. Positioned between the Al Bandar and Al Dana developments along the picturesque Al Raha beach, the island is poised to become a focal point for esports enthusiasts worldwide.

True Gamers — a key player in the gaming industry — has pledged a substantial investment of $280 million to develop Abu Dhabi’s eSports Island. Upon completion, the project is anticipated to cost a staggering $1 billion.

true gamers esports island details

The island will boast state-of-the-art amenities geared towards training aspiring eSports professionals and hosting international tournaments. The GG Bootcamp, equipped with cutting-edge gaming infrastructure, will provide a comprehensive training facility, dedicated rest areas and even nutrition programs.

At the heart of the eSports Island lies the True Gamers (TG) Arena, envisioned as a premier venue for hosting high-profile competitions with thousands of spectators. Adaptable spaces are designed to cater to various gaming formats and genres, and the arena will also serve as a hub for digital exhibitions and conferences. Additionally, the Digital Tower will offer a collaborative workspace for developers, and the island will host tourists and event goers in 200 rooms with in-built gaming computers.

Also Read: Top 10 Best Video Games Set In The Middle East

Establishing an eSports hub in Abu Dhabi will reinforce the UAE’s position as a global market leader, capitalizing on the region’s growing appetite for gaming. As international tournament organizers increasingly focus on the Middle East, the unveiling of Abu Dhabi’s eSports Island heralds a new era of innovation and growth for the industry.

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