NEOM and NTDP Launch Business Accelerators to Advance the Web3 Ecosystem in Saudi Arabia

IT News

2025-02-12

NEOM, SPA: NEOM and the National Information Technology Development Program (NTDP) have announced a strategic partnership to foster the growth of the Web3 ecosystem in Saudi Arabia. The collaboration includes launching comprehensive accelerator programs to support qualified startups, leveraging the expertise and resources of both organizations. The partnership's first milestone was the launch of the FutureSpark Accelerator Base Camp in collaboration with Outlier Ventures, a global leader in Web3 business accelerators. This program is the first of its kind in the Kingdom to accelerate the high-tech Web3 ecosystem. Ten startups were selected for the program's inaugural phase after rigorous evaluation of applications submitted through Outlier Ventures' platform. The program began in October 2024 in Riyadh and spanned 12 weeks, culminating in a four-day workshop held in NEOM from January 12 to 15, 2025. During the program, entrepreneurs refined their business models, enhanced market strategies, and gained the tools to navigate the rapidly evolving Web3 technology landscape. The initiative aims to accelerate startups' growth by providing personalized guidance, access to a network of industry experts, and essential tools for success in a competitive environment. Participants also benefit from Outlier Ventures' extensive expertise, including workshops, networking opportunities, and resources designed to develop practical skills. The partnership prioritizes sectors with significant growth potential, such as cognitive cities, artificial intelligence, digital identity, and gaming. Selected startups gain access to critical resources to enhance their capabilities and establish leading companies in these fields.