The National Technology Development Program (NTDP) and SparkLabs Group officially signed a partnership agreement to launch a new startup accelerator in Saudi Arabia with NTDP's support.
RIYADH, Saudi Arabia, March 3, 2023 /PRNewswire-PRWeb/ -- The National Technology Development Program (NTDP) and SparkLabs Group officially signed a partnership agreement to launch a new startup accelerator in Saudi Arabia with NTDP's support. SparkLabs was one of three accelerators selected and announced at the LEAP technology conference in Riyadh where over 100,000 people attended during February 6th-9th, 2023.
"We are excited to work with SparkLabs to achieve the goals of this agreement that working together to create an ecosystem of technology startups in Saudi Arabia. In addition, we will collaborate with investors to provide support for startups and entrepreneurs. We will interact with entrepreneurs who own projects and companies that contribute to making a quantum leap and providing value to local and international communities . We seek to create an integrated and advanced technology system for the Kingdom that achieves the goals of Vision 2030." stated Ibrahim Abdulaziz Neyaz, CEO of NTDP.
The National Technology Development Program (NTDP) (http://www.ntdp.gov.sa/ar) is a national program in Saudi Arabia that contributes to enhancing the effectiveness of technology ecosystem by achieving a sustainable development using various components in collaboration with the stakeholders. Its goal is to facilitate Saudi Arabia's transformation into a leading global Technology Hub by 2030 and to strengthen the Saudi tech-ecosystem with innovative financial solutions.
"We believe the timing is ideal to launch our presence in the Kingdom. We are looking forward to helping to build Saudi Arabia's startup ecosystem, collaborate with existing investors and engage with entrepreneurs who want to change the world," explained Ivan Grlic, Co-founder and Managing Partner at SparkLabs Saudi Arabia.
SparkLabs Group is a venture capital firm that primarily invests in early-stage companies. Since 2013, they have invested in over 400 startups across six continents. SparkLabs Saudi Arabia is a new accelerator and venture capital fund primarily targeting entrepreneurs in Saudi Arabia. Target sectors include AI, fintech, climate tech, enterprise software and online entertainment. Additionally, SparkLabs' partners will be bringing their long history in online gaming from companies such as South Korea's Nexon, which launched the first MMORPG online game in the world in 1996.
Saudi Arabia is a future-forward economy, offering untapped potential with a highly educated population of over 34 million people. Since its effort to diversify the economy and reduce dependence on oil, the 18th largest economy in the world is becoming an attractive environment for new innovations and entrepreneurs to build the next generation of world class startups.
ABOUT SAUDI ARABIA'S NATIONAL TECHNOLOGY DEVELOPMENT PROGRAM (NTDP)
The National Technology Development Program (NTDP) is a national program in Saudi Arabia that contributes to enhancing the effectiveness of technology ecosystem by achieving a sustainable development using various components in collaboration with the stakeholders. Its goal is to facilitate Saudi Arabia's transformation into a leading global Technology Hub by 2030 and to strengthen the Saudi tech-ecosystem with innovative financial solutions. You can find out more information through this link: http://www.ntdp.gov.sa/ar
ABOUT SPARKLABS GROUP
SparkLabs Group (http://www.sparklabsgroup.com) is a network of startup accelerators and venture capital funds that has invested in over 400 startups across 6 continents since 2013. We believe innovation is global and entrepreneurial knowledge, excitement and talent continues to spread around the world.
We are innovation ecosystem builders that help local startups go global and uplift the foundations of entrepreneurship in each region and country we enter. We are passionate about helping entrepreneurs because all of our founders have been there many times before, from dreams on a napkin to building products through the night.
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Media Contact
Bernard Moon, SparkLabs Group, 650-454-5244, [email protected]
SOURCE SparkLabs Group
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