Techstars, MCIT, RAED Ventures and Saudi National Bank announce the continuation of the Riyadh Techstars Accelerator

Techstars, MCIT, RAED Ventures and Saudi National Bank announce the continuation of the Riyadh Techstars Accelerator

(BUSINESS WIRE)--Techstars, one of the largest pre-seed investors in the world, in collaboration with the Ministry of Communications and Information Technology of the Kingdom of Saudi Arabia (MCIT), RAED Ventures and Saudi National Bank (SNB) today announce a new partnership to continue The Riyadh Techstars Accelerator. As a part of Saudi Arabia's emerging entrepreneurial ecosystem, the accelerator will work with startups and their founders on building and growing businesses in the Middle East and North Africa. The continuation of this program underscores Techstars’ commitment to making innovation and entrepreneurship more accessible and inclusive for entrepreneurs no matter where they operate around the world.

The Riyadh Techstars Accelerator is now accepting applications and is focused on attracting both Saudi-based entrepreneurs and startups from across the Middle East to pave the way for future innovation in the region’s digital economy. Vijay Tirathrai is the Managing Director of Techstars Riyadh which completed its first program in February 2022, investing in 11 portfolio companies including Torod – an API based, e-commerce enabler.

Faisal Al-Maklas, the CEO and Co-Founder of Torod, described: “The Techstars program was a game changer for us. It has made us all more tenacious, ambitious, and it has shifted our mindset in areas