Global Fund Startup is venturing into the Saudi Arabian market with its first Specialized Fund and Accelerator Program, focusing on the real estate and construction sectors. The move, a collaboration with Seedra Ventures, the National Technology Development Program (NTDP), and a renowned Canadian architectural firm, aims to advance these sectors through innovative strategies, financial support, and necessary resources.
The main objective is to develop affordable, efficient, and eco-friendly housing for underserved communities. Combining the unique skill sets of each partner, this project hopes to stimulate economic and social change. Global Fund Startup brings its global experience in sustainable housing, Seedra Ventures adds essential local knowledge, and the NTDP contributes technical expertise, while the Canadian firm brings innovative design to the table.
This partnership also encourages knowledge and business model exchange between Western and local entities, fostering future collaborations. The fund will be managed by General Partners Jourdan Younis and Aya Zaghnin, who are keen on sparking change in the Saudi Arabian startup scene while aligning with the nation’s ‘Vision 2030’ plan for economic diversification and technological advancement.
The collaborators plan to set up a satellite research and development lab to encourage local innovations and find region-specific solutions.
Specialized fund and accelerator: Expanding Saudi’s real estate sector
Through this, they aim to unlock growth potential in the region while working with local institutions. This approach is expected to benefit both the community and the partnership significantly.
The goal of the new accelerator program, as stated by the CEO of Global Fund Startup, is to support the B2B startup ecosystem’s growth by providing professional mentorship and financial resources. They will particularly focus on tech-based startups aiming to improve business processes and increase efficiency. The selection process, which promises startups the invaluable opportunity to work with industry experts and benefit from advanced technology, will start next month. This effort is aligned with Global Fund Startup’s commitment to fostering entrepreneurship and expanding the global startup community’s horizons.
