Riyadh - Sharikat Mubasher: Saudi Arabia's Neom launched a strategic partnership with the National Technology Development Program (NTDP) to advance the growth of the Web3 ecosystem in the Kingdom.

Both parties will leverage their combined strengths and resources to establish comprehensive accelerator programs designed to support selected startups with mentorship, funding opportunities, and vital industry connections, Neom revealed in a press release.

Marking the partnership’s debut achievement, Outlier Ventures, the world’s leading Web3 accelerator, joined efforts with Neom and NTDP to launch the FutureSpark Base Camp Accelerator Program, the first deep-tech Web3 accelerator program in Saudi Arabia. Ten startups were selected in the program’s first cohort, following a rigorous application process via Outlier Ventures’ website.

This 12-week program empowered entrepreneurs to refine their business models and enhance their market strategies, equipping them to navigate the rapidly evolving Web3 landscape.

Through personalized guidance and access to a network of industry experts, the program aims to accelerate the growth of startups by providing the tools and insights necessary for success in a competitive environment.

The FutureSpark Base Camp Accelerator Program supports early-stage entrepreneurs and drives technological advancement in Saudi Arabia, in conjunction with Vision 2030.

Moreover, the partnership between Neom and NTDP supports the most promising founders across key technology sectors, such as cognitive cities, artificial intelligence (AI), digital identity, and gaming.