Techstars Founder Catalyst

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Techstars Founder Catalyst

From aspiring founders to early stage entrepreneurs ,MCIT,  Techstars and SNB can scale your vision into a thriving business.

 Jeddah, Saudi Arabia – June 15 – August 13, 2023.

 

Al Ahsa, Saudi ArabiaJune 28 – August 27, 2023.

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Techstars Founder Catalyst

The Ministry of Communication and Information Technologies (MCIT) is partnering with Techstars, the most active pre-seed investor in the world with a worldwide network that helps entrepreneurs succeed, and the Saudi National Bank (SNB) to foster innovative tech ecosystems in two promising regions of The Kingdom: Jeddah and Al Ahsa.

Two Founder Catalyst pre-accelerator programs will be based in Jeddah and Al Ahsa and delivered in hybrid form*, with the objective to support the growth of local and international startups and foster entrepreneurship in the extended Eastern and Western Provinces of The Kingdom. The two programs will be supporting 50+ startups in various fields, with a special focus on media tech startups.

* Hybrid form: most components of the programs will be delivered online (masterclasses, mentorship etc.) but there will be in-person events and milestones in the locations of Jeddah and Al Ahsa.

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Techstars

Techstars is the most active pre-seed investor in the world. Its global network extends to 150+ countries and includes more than 4,000 active mentors, all to help entrepreneurs succeed. Its portfolio includes over 3,700 companies including  more than 3,500 startups from its accelerator programs that have a combined market capitalization value of $99.9 billion as of May 2023. 

The Techstars Founder Catalyst Jeddah and Al Ahsa partnerships with MCIT and SNB and will provide an opportunity to support pre-seed companies in The Kingdom and internationally and aims at fostering innovation ecosystems in Jeddah and Al Ahsa. 

What will participating startups receive?
A global network of mentors

You will have access to mentors from the Techstars global network that spans 150+ countries and includes 4,000+ active experts and mentors. Industry, expert, local and international mentors will be available for one-on-one meetings and can share their deep experiences and expertise in entrepreneurship.

Sharing knowledge and experiences

Masterclasses by distinguished subject matter experts from the Techstars global network on every topic you will need so take your startup to the next stage of development and to reach funding readiness.

Establishing relationships with startups

Work with your team and be part of a vibrant startup community!

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Who are we looking for?

Early-stage pre-seed teams.

Wanting to expand their entrepreneurial skills through a 10-week long part-time and hybrid program consisting of:

  • Mentorship and masterclasses by distinguished members of the Techstars network worldwide.
  • Peer-meetings and connections to the local ecosystem.
  • And an end of program Pitch Day to showcase their progress to the local and international startup community.
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We are looking for startups fulfilling the following criteria:
  • Have raised less than $250k.
  • Have been founded less than 3 years ago.
  • Need support to reach funding readiness and/or reach the next step of their development.
  • No specific sector, but a preference for media tech companies.
  • Special attention will be given to startups based out of Saudi Arabia, but all nationalities and locations are welcome to apply as the program will be held in hybrid form.
Evaluation criteria
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The team
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The traction and execution
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The idea, scalability potential and market
10
Weeks
20
Startups per program
10
Masterclasses
Program Journey Jeddah
01

June 15, 2023

Applications open
02

August 13, 2023

Applications close
03

week of September 4, 2023

Selection decision  
04

September 11, 2023

Program start
05

November 21, 2023

Demo Day (in person)
Program Journey Al Ahsa
01

June 28, 2023

Applications open
02

August 27, 2023

Applications close
03

week of September 18, 2023

Selection decision
04

September 25, 2023

Program start
05

 December 5, 2023

Demo Day (in person)

FAQs

Nearly everyone does, and we highly encourage it. We provide the space (unless you're participating in one of our virtual programs), and our locations are fully equipped and have both traditional and lounge-like space. We do believe there is a great deal of value in being in the space together because the other companies and mentors interacting there present a great opportunity.

The primary language that we use in verbal and written communications during all accelerator programs—in every country—is English.

It’s your company, so you’ll be hard at work on your product. You can choose to work out of the Techstars office if you’d like, or you can work anywhere else that you might prefer. About two or three nights a week, we organize informal educational sessions with our mentors.

We also expect many of the mentors to drop into Techstars at various times throughout the program. In general though, you’ll be working on your product each day, just like all of the other founders in the program. We don’t tell you what to do or when, but we create an environment that is conducive to helping your startup every day. And we’ll make sure you have lots of experienced mentors around to help you.

This does happen now and then. Notably, Sphero went through the Techstars Boulder program in 2010, and then returned to go through the Disney Accelerator in 2014, which resulted in their opportunity to build the Star Wars BB-8 toy!

Watch what Sphero has to say about the experience, or read this terrific article from Wired.

We look at team, team, team, market, progress, idea—in that order.

We choose great founders who are proposing products that solve real problems or create meaningful innovations. For us, it’s about the team. For this reason, we’re less likely to accept single founder companies (you’re less likely to have all the skills your company needs to succeed). The best things you can do to strengthen your application are:

  • Round out your team with business, technical, and other necessary skills;

  • Make progress on your prototype or product and reference it in the application;

  • Show us you’ve really thought about your business and have gotten out there to do something about it;

  • Demonstrate early traction or provide data points to validate your core assumptions.

You should be able to view and access all your applications on F6S. If you run into any issues accessing your applications or account, please contact support@F6S.com.

If you have submitted an application and would like to change or update any information please email F6S (support@f6s.com). Let them know what you would like to change along with the name of your startup on your application.

Unfortunately, we don’t allow late applications in order to move through our very tight schedule for selection and to be fair to all applicants. The next round of applications will be open soon, and you can always find our open applications here.

No. We receive thousands of applications per year, which is why we have an application process. Systematically emailing some or all of our mentors in order to try to influence them before being accepted into the program will hurt you more than it will help you. The mentors are dedicated to helping the companies that we select, but they are not a part of the selection process.

You can apply to any program, and we’ve funded companies from many different countries. You do have to be legally in the program country during the program, of course. Once you are accepted into a program, we can help with legal/immigration issues by leveraging our contacts and network to help. However, we cannot help with them in advance of acceptance to Techstars.

While we don’t screen applications just because they have a single founder, it does make things more difficult. The question we ask is: do you have all the skills your company needs to succeed?

We look for great, balanced teams who have a full range of skills. We strongly advise you to seek co-founders who balance your skillset. For example, if you’re a strong developer, you might consider adding someone with business and/or marketing experience. If you’re a great business evangelist with no developer, it’s very unlikely we’ll accept you into the program, so go find a rock star developer to join you.

Check out options like CoFoundersLab. We also suggest your local tech meetups, and a healthy dose of networking.

No.

After applications close, we’ll review applications for about seven weeks, and spend time getting to know even more about your team, market, progress and idea. Our goal is to notify the final group of companies being accepted within eight weeks from the application closing date.

All applications close at 11:59 pm Pacific Standard Time on the date indicated on their program page.

Nope. Just fill out the online application.

We’re not in the business of stealing ideas, and we treat application data as confidential information. Each year, we see thousands of applications, and many of them include similar ideas. For this and other practical reasons, please don’t ask us to sign an NDA. Our application does not ask for your “secret sauce” and there is no reason you have to disclose this to us if you’re not comfortable doing so. We hope that our reputation speaks for itself on this topic

Yes. We’re happy to consider any application. Just remember that the biggest thing we look at is team, team, team.

Yes, you can get kicked out. Just adhere to our Code of Conduct and all should be well.

Didn’t find the answer you were looking for? Send us an email at help@techstars.com and we’ll get back to you shortly!

Within the program MCIT will support all the accepted startups to issue a commercial regeneration in the kingdom of Saudi Arabia.