In a groundbreaking initiative geared towards revolutionizing the construction and real estate domains, Startup Wise Guys (SWG), in collaboration with SEEDRA Ventures and under the sponsorship of the National Technology Development Program (NTDP), is elated to unveil the inaugural Construction Tech Specialized Fund and Accelerator Program in Saudi Arabia.
The fund, helmed by SWG, is led by two experienced General Partners, Jourdan Younis and Aya Zaghnin. Jourdan Younis, General Partner, expresses his enthusiasm for leading this innovative project within the rapidly evolving Saudi startup landscape, committed to instigating substantial change via technological solutions.
Aya Zaghnin, another General Partner, underscores the fund’s dedication to fostering a conducive environment for innovation and growth within the sector. This aligns with the objectives of Saudi Vision 2030, aiming to inject state-of-the-art technologies into the construction sector, thereby enhancing the development of built assets across the nation.
The alliance between Startup Wise Guys and SEEDRA Ventures is a notable progression for Saudi Arabia’s startup ecosystem and its global influence. This partnership merges SWG’s vast experience as a leading accelerator fund in Europe and Africa with SEEDRA Ventures’ intricate comprehension of the Saudi market.
Enhancing this initiative, a collaboration between SWG and WZMH architects aims to set up Sparkbird, a pioneering research and development lab in Riyadh. This lab will concentrate on refining technologies for the MENA region and launching new concepts in collaboration with government entities, the private sector, and educational institutions in Saudi Arabia.
Mohammed Al Atheri and Zenon Radewych of WZMH share their insights on the collaboration, highlighting how Sparkbird’s tech innovations, especially those crafted for the Saudi construction market, will form new alliances with local entities. They believe this to be a pivotal moment where smart building technologies and Saudi Arabia’s unique needs intersect, heralding substantial advancements in the sector.
SWG also plans to bring its esteemed accelerator program to the region, leveraging its expertise in fostering B2B startups. Cristóbal Alonso, CEO at SWG, emphasizes the program’s role in bolstering entrepreneurs in the Construction Tech field on their path to global expansion.
Haitham Alforaih, Founding Partner at SEEDRA Ventures, speaks about Saudi Arabia’s rapid development and its construction sector’s role in this transformative journey. With significant investments in infrastructure and mega-projects like NEOM and the Red Sea Development Project, the Kingdom’s construction landscape is ripe with possibilities for companies specializing in advanced technologies that enhance productivity and safety.
The Accelerator Program promises participants a chance to work closely with Startup Wise Guys’ vast network of experts and mentors, acquiring valuable knowledge and support for scaling their ventures internationally.
Details on the program’s launch, scheduled for the third quarter of 2024, and application procedures will soon be made available by SWG, SEEDRA Ventures, and WZMH on their respective websites.
About Startup Wise Guys
Startup Wise Guys is a premier accelerator fund with a portfolio of over 400 investments in early-stage B2B startups across various sectors, including SaaS, Fintech, cybersecurity, XR, sustainability, web3, and Proptech. With a presence in more than 60 countries and multiple offices across Europe and Africa, Startup Wise Guys provides vertical-focused accelerator programs and aims to be a leading accelerator for B2B startups aiming for global reach. The organization has been recognized with awards such as Hottest Accelerator at the 2021 Europas Startup Awards and Best Accelerator in the Global Startup Awards 2023.