NEOM, January 21, 2025 – In a bold step toward shaping the future of digital innovation in Saudi Arabia, NEOM and the National Information Technology Development Program (NTDP) have unveiled a groundbreaking partnership aimed at fostering the growth of the Web3 ecosystem within the Kingdom. This collaboration will play a pivotal role in nurturing the next generation of technology startups and accelerating the development of Web3 technologies, which have the potential to revolutionize sectors ranging from finance to digital identity and beyond.
A core component of this strategic partnership is the launch of comprehensive accelerator programs that will support qualified startups in navigating the complexities of the Web3 space. By leveraging the combined expertise and resources of both NEOM and NTDP, the initiative is designed to provide startups with the tools, guidance, and network necessary to succeed in this fast-evolving sector.
The first major milestone of this partnership was the introduction of the FutureSpark Accelerator Base Camp, a unique program created in collaboration with Outlier Ventures, a globally recognized leader in Web3 business acceleration. This accelerator, the first of its kind in Saudi Arabia, is set to become a key driver of innovation in the Web3 ecosystem, providing startups with the support they need to build scalable businesses in cutting-edge fields such as blockchain, cognitive cities, artificial intelligence (AI), digital identity, and gaming.
The inaugural phase of the FutureSpark Accelerator began in October 2024 in Riyadh, where ten startups were selected after a rigorous evaluation process based on applications submitted through Outlier Ventures' platform. These startups represent a diverse range of Web3 applications, each with the potential to disrupt traditional business models and bring new solutions to market. Over the course of 12 weeks, participants worked to refine their business models, enhance market strategies, and gain insights into the rapidly evolving landscape of Web3 technologies.
The accelerator culminated in a four-day workshop held in NEOM from January 12 to 15, 2025, where entrepreneurs were provided with tailored support to further develop their ideas and grow their businesses. During this workshop, participants had the opportunity to interact with industry experts, take part in hands-on workshops, and receive personalized mentoring designed to address the unique challenges of the Web3 ecosystem. By offering a combination of practical tools, strategic advice, and access to an expansive network of investors and mentors, the program aims to empower these startups to succeed in the highly competitive global market.
The NEOM-NTDP partnership is committed to prioritizing sectors with significant growth potential and transformative impact. Beyond Web3 itself, the program is particularly focused on the future of cognitive cities, artificial intelligence, digital identity, and gaming—industries that are poised to reshape the digital landscape. Through the accelerator, participating startups will gain access to critical resources, including funding, infrastructure, and expertise, helping them to build competitive, market-leading solutions in these rapidly growing fields.
The collaboration between NEOM, NTDP, and Outlier Ventures is an essential step in realizing Saudi Arabia’s Vision 2030 goals, particularly in fostering innovation, digital transformation, and economic diversification. As the Kingdom continues to invest in cutting-edge technologies and forward-thinking business models, this partnership represents a significant milestone in the development of a robust, sustainable, and globally competitive Web3 ecosystem in Saudi Arabia.
Through this initiative, NEOM and NTDP are not only providing a platform for the next generation of tech entrepreneurs but are also positioning Saudi Arabia as a leading hub for innovation in the Web3 space. The FutureSpark Accelerator is just the beginning, as the Kingdom continues to nurture its vibrant startup ecosystem and create an environment where technology and entrepreneurship can thrive.