Riyadh Techstars Accelerator for startups in the Middle East and North Africa

Riyadh Techstars Accelerator for startups in the Middle East and North Africa

Riyadh Techstars Accelerator is focused on startups building and growing their businesses in the Middle East and North Africa. In 2021 this program hopes to run in-person, dependent on COVID-19 conditions.

Techstars accelerators have one goal: to help entrepreneurs succeed. During each three-month program, they surround companies with the best mentors and an unrivalled network of corporate partners, investors, and alumni.

They provide funding and fundraising opportunities, workshops and curated resources, not to mention countless moments where you can learn from your peers. It’s a proven model that’s helped build thousands of successful companies, all over the world.

Benefits Riyadh Techstars Accelerator

Upon acceptance to a Techstars Accelerator, Techstars contributes $20,000, which is commonly used as a stipend to support living expenses during the program, and in return receives 6% equity of the company (on a fully diluted basis, issued as common stock) until the company raises a priced equity financing of US $250,000 or more (a “Qualified Financing”). However, if a company conducts a Network Launch using distributed ledger technology (i.e. a blockchain initial coin offering, token event, etc.), then Techstars will also receive 6% of the Token Reserve (i.e. the tokens “held back” for the founders and the company at Network Launch). In addition, all accepted companies are offered a $100,000 convertible note.

Each company also receives:

  • Access to Techstars resources for life.
  • Acceleration in a 90-day Techstars program with intense, hands-on mentorship from Techstars Mentors.
  • Connections to the Techstars Network of over 10,000 founders, alumni, and mentors globally.
  • 120+ perks and growing.
  • Office space for three months (unless you are participating in a virtual program).
  • Demo Day and other investor connections.
  • Equity Back Guarantee, the only one of its kind in our industry.

Activities

While each program is different, here are a few that pretty much everyone gets:

  • Office hours with guest mentors and investors.
  • Workshops and masterclasses delivered by industry experts on specific topics like hiring, marketing, tech, product, etc.
  • Founder stories: serial entrepreneurs come in and share how they built their company. The best part is that it’s more than what you read online – in this context, founders speak honestly about what really went down.
  • Intensive pitch practice, in preparation for Demo Day and fundraising.
  • Plus anything else the program team thinks would benefit your experience and help you #DoMoreFaster — many activities are curated to the needs of the founders and companies in each program, meaning that no program is exactly the same twice. 

Applications Close: Jul 28th, 2021

To apply visit here

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