Meet Inspireu, Saudi Arabia’s First Incubator-accelerator
Saudi Telecom Company (STC) has launched Saudi Arabia’s first corporate digital incubator-accelerator: Inspireu. Saudi Arabia is already home to accelerators like Flat6labs Jeddah and initiatives by the King Abdullah University of Science and Technology (KAUST) like “New Ventures”. The latest among those, Inspireu, targets early stage digital and ICT startups. The 6-month program will run twice a year in Riyadh, and is open to applications globally, with a focus on Saudi Arabia. Each cycle will select 10 candidates to relocate to Riyadh and benefit from the program. Candidates can receive up to $20,000 in seed funding, as well as a full range of services, for a total value of around $100,000, including: office space, access to STC’S infrastructure, mentorship, hands-on trainings, an international exchange program, networking with regional and international partners, and privileged access to MENA markets. Finally, Inspireu will choose 4 candidates and help them develop their businesses through promotion and exposure to additional investment opportunities.