Outlier Ventures, the world’s leading deep-tech Web3 accelerator, has successfully wrapped up its inaugural FutureSpark Base Camp in Riyadh.
Conducted in strategic partnership with Saudi Arabia’s National Technology Development Program (NTDP) and supported by NEOM, the accelerator program provided participants with essential resources and expert mentorship to drive Web3 innovation in the region.
A Milestone for Saudi Arabia’s Web3 Industry
The FutureSpark Base Camp marked Saudi Arabia’s first deep-tech Web3 accelerator, reflecting Outlier Ventures’ commitment to expanding the global Web3 ecosystem. With an acceptance rate of less than 2%, the program attracted a highly competitive pool of applicants from Saudi Arabia, the United States, the United Kingdom, the United Arab Emirates, Portugal, and the Marshall Islands.
The selected startups represented a diverse array of sectors, including Gaming, Artificial Intelligence (AI), Payment Solutions, Real-World Assets (RWA), and Digital Identity. Each of these fields plays a pivotal role in shaping the next phase of the internet, aligning with Outlier Ventures’ Post Web thesis.
Supporting the Next Generation of Web3 Founders
Launched in October 2024, the FutureSpark Base Camp aimed to accelerate the growth and development of promising startups. Throughout the program, Outlier Ventures provided tailored support in areas such as token design, engineering, legal frameworks, marketing, and finance. In addition to networking opportunities, the startups benefited from mentorship by leading industry experts.
A key highlight of the program was an intensive four-day workshop held in NEOM in January, where founders gained hands-on experience and insights from top-tier professionals.
The accelerator program concluded with an in-person Demo Day in Riyadh, where startup founders from Astra Nova, Byzanlink, Feed Protocol, Kodex, LIFT, Ouroboro Labs, Sorbet, Waslah, and YalGamers showcased their projects before an audience of over 200 distinguished guests, including investors, venture capitalists, and key government representatives. A virtual Demo Day followed in February, extending the opportunity for the startups to present their vision to a global audience.
Industry Leaders and Investors Show Support
Prominent speakers at the Riyadh Demo Day included Ibrahim Neyaz, CEO of NTDP, and Stephan Apel, Founding Partner and CEO of Outlier Ventures.
Stephan Apel emphasized the accelerator’s success, stating: “The FutureSpark program supported an incredible cohort of founders in the Kingdom, backed by our leading Web3 experts. It has been fantastic to see their progression over the 12-week program, and we look forward to witnessing their continued growth. The passion for Web3 that drives this ecosystem is at the heart of FutureSpark. It is an honor for Outlier Ventures to launch its first Middle East accelerator in Saudi Arabia and partner with prestigious institutions such as NTDP and NEOM, who are dedicated to supporting founders on their journey.”
Saudi Arabia’s Growing Tech and Venture Capital Landscape
As a global authority on Web3 innovation, Outlier Ventures has supported over 350 projects, helping startups raise $1 billion, with a combined network value of $11 billion. Recognizing the Middle East and North Africa (MENA) region as a growing hub for Web3, Outlier Ventures strategically chose Riyadh for the launch of FutureSpark Base Camp.
In 2024, Saudi Arabia emerged as a top destination for venture capital in the MENA region, with local startups raising $750 million—accounting for 40% of the total $1.9 billion funding secured across the Middle East and North Africa. The Kingdom’s strong tech ecosystem, proactive government initiatives, and increasing investor confidence make it an attractive hub for deep-tech and Web3 development.
The successful completion of the FutureSpark Base Camp underscores Saudi Arabia’s growing role in shaping the future of Web3 and deep technology. As Outlier Ventures continues its global expansion, this initiative paves the way for further innovation and investment in the region’s rapidly evolving digital landscape.
