Outlier Ventures, NTDP and NEOM Conclude the First Deep Tech Web3 Accelerator Program in Riyadh
The program focused on showcasing regional Web3 Progress.
Riyadh: Gulf Tech News
Outlier Ventures, the world’s leading deep tech Web3 accelerator, has successfully concluded its inaugural FutureSpark Base Camp in Riyadh. The program was conducted in strategic partnership with Saudi Arabia’s National Technology Development Program (NTDP) and was supported by NEOM, providing participants with essential resources and expert guidance. The FutureSpark Base Camp was the first deep-tech Web3 accelerator in Saudi Arabia and is part of Outlier Ventures’ commitment to growing the Web3 ecosystem globally and driving innovation in the region.
The FutureSpark Base Camp saw an exceptionally competitive application process, with an acceptance rate of less than 2%. The cohort comprised teams from countries including Saudi Arabia, the United States of America, the United Kingdom, the United Arab Emirates, Portugal and the Marshall Islands.
The select group of high-potential projects were chosen to participate, representing diverse sectors including Gaming, Artificial Intelligence (AI), Payment Solutions, Real World Assets (RWA) and Digital Identity, playing critical roles in shaping the future of the internet and directly aligning with our Post Web thesis.
Launched in October 2024 in Riyadh, the FutureSpark Base Camp aimed to support the founders, creating a program that helped drive the growth and development of the selected startups. Outlier Ventures evaluated and advanced startup teams in the areas of token design, engineering, legal, marketing, finance, and more along with networking opportunities and guidance from mentors. The cohort also attended an intensive four-day workshop held in NEOM in January.
The accelerator program concluded in Riyadh with an in-person Demo Day, where startup founders from Astra Nova, Byzanlink, Feed Protocol, Kodex, LIFT, Ouroboro Labs, Sorbet, Waslah and YalGamers, showcased their vision to a packed audience of 200+ distinguished guests, including investors, venture capitalists, and key government representatives.
Prominent speakers at the event included Ibrahim Neyaz, CEO of the National Technology Development Program (NTDP), and Stephan Apel, Founding Partner and CEO of Outlier Ventures. The program also organised a virtual Demo Day in February, offering the cohort an opportunity to present to a global audience.
Stephan Apel, the CEO and Founding Partner of Outlier Ventures, said: “The FutureSpark program supported an incredible cohort of founders in the Kingdom backed by our leading Web3 experts. It has been fantastic to see founders’ progression over the 12-week program and we look forward to seeing their continued growth. The heart of the FutureSpark Base Camp is the passion of Web3 that drives the ecosystem. It is an honor for Outlier Ventures to launch its first Middle East accelerator in the Kingdom and to partner with such prestigious institutions as NTDP and NEOM who are continuing to support the founders in their journey. It is great to see this continued collaboration and we look forward to the ongoing success from the cohort.”
Outlier Ventures is known as an authority for Web3 innovators from all over the world. The firm has an investment portfolio of over 350 global projects and has helped startups raise USD 1 billion with a combined network value of USD 11 billion. As part of Outlier Ventures’ focus on the (Middle East and Africa) MENA region, Riyadh was a key strategic location to host the inaugural FutureSpark Base Camp. In 2024, the Kingdom became a top destination for VC funds in MENA: local startups raised USD 750 million, 40% of the total USD 1.9 billion funding received by all projects in the Middle East and North Africa. Saudi Arabia boasts a strong tech ecosystem, proactive government initiatives, and investor confidence. Launching the first deep-tech Web3 accelerator in Saudi Arabia is part of Outlier Ventures’ commitment to helping grow the Web3 ecosystem globally and driving regional innovation.
About Outlier Ventures
Founded in 2014, Outlier Ventures is the world’s leading Web3 accelerator, with a renowned reputation as the go-to authority for Web3 founders, investors and partners across its Base Camp accelerator program and Ascent token launch program. With a portfolio of over 350 global investments and a combined network with a combined network value of USD 11 billion, Outlier Ventures has helped raise USD 1 billion in seed funding. Outlier Ventures’ portfolio includes leading Web3 companies, including Biconomy,Boson Protocol, Brave, Cheqd, Cudos, DIA Data, Fetch.ai, IOTA, Ocean Protocol, Root Network and XAI.
Learn more: https://outlierventures.io/
About NEOM:
NEOM is an accelerator of human progress and a vision of what a New Future might
look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the
ground up as a living laboratory – a place where entrepreneurship will chart the course
for this New Future. It will be a destination and a home for people who dream big and
want to be part of building a new model for exceptional livability, creating thriving
businesses and reinventing environmental conservation.
NEOM will include hyperconnected, cognitive cities, ports and enterprise zones,
research centers, sports and entertainment venues and tourist destinations. As a hub
for innovation, entrepreneurs, business leaders and companies will come to research,
incubate, and commercialize new technologies and enterprises in groundbreaking ways.
Residents of NEOM will embody an international ethos and embrace a culture of
exploration, risk-taking and diversity.
For further information email media@neom.com or visit www.neom.com and
