In line with Saudi Vision 2030”, Al Borg Diagnostics, which harbors one of the largest chains of Medical Labs in the Kingdom of Saudi Arabia, initiated Al Borg Med-Tech Accelerator program in January 2021, as part of its social responsibility towards youth empowerment, innovation fostering, intellectual property, and the localization of technologies, with the aim of improving health care services.
The board of directors generously allocated 1 million dollars annually in support of the program working towards social and economic development, health care innovation, accelerator programs, entrepreneurship, and providing common workspace and relevant training programs for a period of 10 years.
We started our Accelerator program in January 2021 and out of 100 local and multinational startups applications we selected 32 startups based on selection criteria in the following categories; health insurance and financial technology, logistic services, health care, artificial intelligence, transport and tracking system, remote diagnosis and consultations, domestic care, urgent care, pharmacy, and 3D printing.
Al Borg Diagnostics has contracted with service providers and consultants from inside and outside the Kingdom of Saudi Arabia to implement the program, provide acceptance services, filter applicants, set standards, match levels, and to provide remote guidance, counseling services, write and prepare investment memos, and prepare the startups to be introduced to investors.
This opportunity has provided a great chance to the startup companies that have joined the Accelerator program.
On Monday 17 January 2022, 9 nominated startups from different geographical locations within the GCC and North Africa will be preparing their startups to pitch in front of investors and competing for Al Borg’s first, second, and third prize, at Crown Plaza Riyadh RDC. The top 3 startups will receive awards and have the chance of potential investment and funding.
