Aramco’s Wa’ed to launch Fintech Accelerator – ITP.net

Aramco’s Wa’ed to launch Fintech Accelerator – ITP.net

Wa’ed, the entrepreneurship wing of Saudi Aramco, will collaborate with venture capital firm Flat6Labs and Fintech Saudi in the launch of an accelerator program to boost the growth of Fintech companies in the kingdom. A wholly-owned venture of Aramco, Wa’ed was founded in 2011, and has invested approximately USD 106 million in venture capital, loans and incubation services to more than 100 Saudi-based start-ups.

12-week program

The program, Fintech Accelerator, will comprise of a regulatory track and training in business that will take place in tandem. Startups will also be able to present their ideas and concepts to potential investors. The 12-week hybrid course will take place in-person in Riyadh and online and will start next month. The program will host 12 start-ups for a series of workshops and training seminars.