"Badir" graduates 15 Start-Ups in "Riyadh and Jeddah" accelerators
Eight technological start-up companies that qualified in the "Badir Riyadh Accelerator", one of initiatives of the Badir Technology Incubators and Accelerators Program to accelerate innovative ideas and transform them into projects, have been able to collect investment funding of more than SAR 75 million, from the time of launch of the accelerator until the end of November this year.
The qualified projects specialize in different fields of innovative technologies; the most prominent of them are logistics, artificial intelligence, electronic technology, and administrative and financial technologies, in addition to other innovative projects, which contribute to the nationalization of the local content.
Investment funding tours, conducted during the events of "Projects Presentation Day", organized by the Riyadh Accelerator during its past three working sessions, have ended, and it managed to introduce to investors and financiers the qualified start-ups or the start-ups that graduated from the accelerator program.
"Badir Riyadh Accelerator" adopted a phased approach in its training and qualification programs. It started with a training camp, where 300 projects that came from different regions in the Kingdom were submitted; 60 projects were qualified to join the camp; of these, only 14 promising projects were qualified to join the accelerator business.
As the accelerator was celebrating the graduation of the new projects which had completed 6 months of qualification, training, and development, 8 technological start-ups presented their products and growth plans to several investors. These start-ups jointly seek to collect investment funding of SAR 26 million. It is expected that the coming days will witness the signing of several investment, funding, and business development agreements between, on the one hand, the start-ups and the graduated innovations and, on the other hand, the investors interested in such promising opportunities.
Moreover, "Badir Jeddah Accelerator" recently celebrated the graduation of seven technological start-ups, after these start-ups received several services and intensive qualification and development programs that continued for 90 days during the period starting August and till the end of November this year.
"Badir Jeddah Accelerator" was able to transform these start-ups into successful business opportunities, and they consequently entered the local markets. It is expected that the entrepreneurs of these projects will sign investment agreements with several individual investors who are interested in the technological start-ups sector.
Badir Accelerators Initiatives at Riyadh and Jeddah support the start-ups with several consultative services and intensive programs to help them succeed in the first stages of establishment. These services include training, follow-up, guidance, and workshops. They are also associated with continuous direction, to develop the innovations of entrepreneurs and transform them into running projects within 90 business days. The Initiative attempts also to facilitate investment funding of technological start-ups through a wide array of individual investors and financiers. Consequently, opening new horizons for the products of these projects to enter local markets, after being transformed into successful and promising business opportunities