Riyadh – Sharikat Mubasher: Outlier Ventures, the world’s leading deep-tech Web3 accelerator, successfully concluded its first FutureSpark Base Camp in Riyadh, marking a milestone for Saudi Arabia’s growing Web3 ecosystem.
The accelerator was launched in strategic partnership with Saudi Arabia’s National Technology Development Program (NTDP) and supported by NEOM, providing selected startups with expert mentorship and resources, according to a recent press release.
As Saudi Arabia’s first deep-tech Web3 accelerator, the program attracted a highly competitive applicant pool, with an acceptance rate below 2%. The cohort featured startups from Saudi Arabia, the U.S., the U.K., the UAE, Portugal, and the Marshall Islands, spanning sectors such as gaming, artificial intelligence (AI), payment solutions, real-world assets (RWA), and digital identity.
Launched in October 2024, FutureSpark Base Camp offered a 12-week intensive program, supporting founders in token design, engineering, legal frameworks, marketing, and finance, alongside networking opportunities with industry experts. In January, the cohort participated in a four-day workshop in NEOM, further strengthening their business models.
The accelerator culminated in an in-person Demo Day in Riyadh, where startups—including Astra Nova, Byzanlink, Feed Protocol, Kodex, LIFT, Ouroboro Labs, Sorbet, Waslah, and YalGamers—pitched their ideas to 200+ investors, venture capitalists, and government officials. A virtual Demo Day in February expanded their exposure to a global audience.
Stephan Apel, CEO and Founding Partner of Outlier Ventures stated: "Launching FutureSpark Base Camp in Saudi Arabia has been an incredible journey. The Kingdom’s thriving Web3 ecosystem, combined with the backing of NTDP and NEOM, has created an ideal environment for innovation. We look forward to seeing these startups continue to grow and shape the future of Web3."
Outlier Ventures has supported over 350 startups globally, helping raise $1 billion in funding with a combined network valuation of $11 billion. With Saudi Arabia emerging as a VC hub in MENA, attracting $750 million in startup funding in 2024, the Kingdom was a strategic choice for Outlier Ventures’ first Middle East accelerator. The firm remains committed to fostering Web3 innovation worldwide while driving technological advancements in the region.