Outlier Ventures, a leading deep-tech Web3 accelerator, has successfully wrapped up its inaugural FutureSpark Base Camp in Riyadh. The initiative was organized in collaboration with Saudi Arabia’s National Technology Development Program (NTDP) and received support from NEOM, ensuring that participants had access to critical resources and expert mentorship. As the first deep-tech Web3 accelerator in Saudi Arabia, the program underscored Outlier Ventures’ commitment to expanding the Web3 ecosystem globally while fostering innovation within the region.
The selection process for the FutureSpark Base Camp was highly competitive, with an acceptance rate of less than 2%. The chosen participants represented a diverse group from countries including Saudi Arabia, the United States, the United Kingdom, the United Arab Emirates, Portugal, and the Marshall Islands. The selected projects covered various sectors such as Gaming, Artificial Intelligence (AI), Payment Solutions, Real World Assets (RWA), and Digital Identity, all of which play a crucial role in shaping the future of the internet and align with Outlier Ventures’ Post Web thesis.
Driving Startup Growth Through Expert Guidance
Launched in October 2024 in Riyadh, the FutureSpark Base Camp aimed to support startup founders by providing a structured program designed to accelerate growth and development. Participants received tailored support in token design, engineering, legal frameworks, marketing, and finance. In addition, the initiative facilitated networking opportunities and access to experienced mentors. A key component of the program included a four-day workshop in NEOM, conducted in January, which provided an intensive learning experience.
The accelerator program concluded with an in-person Demo Day in Riyadh, where founders from Astra Nova, Byzanlink, Feed Protocol, Kodex, LIFT, Ouroboro Labs, Sorbet, Waslah, and YalGamers presented their projects to an audience of over 200 distinguished guests, including investors, venture capitalists, and key government officials. Additionally, a virtual Demo Day was organized in February, enabling the cohort to showcase their innovations to a global audience.
Prominent figures at the event included Ibrahim Neyaz, CEO of NTDP, and Stephan Apel, Founding Partner and CEO of Outlier Ventures. Apel emphasized that the FutureSpark program successfully supported a talented group of founders in the Kingdom, guided by industry-leading Web3 experts. He highlighted the founders’ progress throughout the 12-week program and expressed optimism about their continued growth. He further noted that the passion for Web3 innovation was at the core of the program, making it a significant milestone for Outlier Ventures to establish its first Middle Eastern accelerator in Saudi Arabia. He also acknowledged the contributions of NTDP and NEOM in supporting the founders’ entrepreneurial journeys and looked forward to future collaborations and successes from the cohort.
Strengthening Web3 in the MENA Region
Outlier Ventures has built a reputation as a global authority in Web3 acceleration, boasting an investment portfolio of over 350 projects worldwide. The firm has played a pivotal role in helping startups secure USD 1 billion in funding, with a combined network value of USD 11 billion. Riyadh was chosen as a strategic location for the first FutureSpark Base Camp as part of Outlier Ventures’ commitment to expanding its influence in the Middle East and Africa (MENA) region.
In 2024, Saudi Arabia emerged as a prime destination for venture capital funding in MENA. Local startups secured USD 750 million, which accounted for 40% of the total USD 1.9 billion raised by all projects across the region. The Kingdom’s robust technology ecosystem, government-backed initiatives, and strong investor confidence have contributed to this growth. The launch of Saudi Arabia’s first deep-tech Web3 accelerator is part of Outlier Ventures’ broader mission to strengthen the global Web3 ecosystem and drive technological advancement within the region.
