Exel by Merak Gaming Accelerator Opens Applications for Promising Startups Backed by $80 Million Merak Gaming Fund
● Providing essential resources and mentorship for growth
● Supporting Saudi Arabia’s vision to become a global gaming hub
Exel by Merak, the new gaming accelerator funded by Merak Capital’s $80 million gaming fund, is now accepting applications for its inaugural cohort. This accelerator is dedicated to nurturing the growth of gaming startups, equipping founders with essential resources, mentorship, and funding to enhance their ventures and contribute meaningfully to the global gaming landscape.
Exel operates within the framework of the Merak Gaming Fund, a strategic initiative supported by the National Development Fund (NDF) aimed at fortifying Saudi Arabia’s gaming ecosystem. The program is designed to foster the next generation of gaming entrepreneurs, both locally and internationally, aligning with Saudi Arabia’s vision to establish itself as a global hub for gaming and innovation in accordance with Vision 2030.
With the global gaming market projected to surpass $200 billion, and Saudi Arabia’s rapid emergence as a center for gaming innovation, Exel by Merak offers a transformative platform for startups to refine their offerings, scale their businesses, and unlock investment opportunities through a structured program.
Abdullah Altamami, Founder and CEO of Merak Capital, said: “The National Development Fund’s sponsorship of the Merak Gaming Fund underscores Saudi Arabia’s commitment to cultivating a world-class gaming ecosystem. Exel by Merak is an embodiment of this vision, equipping startups with the resources, mentorship, and funding necessary for success on a global scale.”
Faisal Sedrani, Vice President and Leader of Exel by Merak, commented: “Saudi Arabia’s gaming industry is flourishing, and Exel by Merak is poised to enhance that growth. Our mission is to empower gaming founders to build sustainable businesses while connecting them to a robust network of local and international experts.”
The application process is competitive, targeting startups with innovative concepts and strong growth potential. Selected participants will receive initial convertible note investment to kickstart their development, with opportunities for follow-on investments contingent on progress.
They will benefit from expert mentorship through weekly sessions with seasoned gaming professionals and ongoing support from a dedicated Entrepreneur-in-Residence (EIR). Moreover, tailored resources will be provided to assist with game development, business strategy, scaling efforts, and connecting startups with investors, industry leaders, and global partners to foster collaboration.
The accelerator program begins with a two-week virtual bootcamp focused on refining business strategies, followed by a 16-week acceleration phase that emphasizes scaling, product commercialization, and investment readiness. The program culminates in a Demo Day, where startups will showcase their solutions to potential investors, partners, and industry stakeholders, paving the way for future opportunities.
Exel is actively seeking startups with innovative gaming concepts, significant growth potential, and a clear vision for impact in the gaming industry.
Whether in early development stages or poised for scaling, Exel provides the necessary tools, mentorship, and investment opportunities to transform ambitious ideas into successful ventures. Applications are now open and will be accepted until February 16th, 2025, for consideration in the inaugural cohort of the Exel Gaming Accelerator.
