The NRG Ventures fund has launched a business accelerator for technology companies with founders from the post-Soviet space who are going to enter Middle Eastern markets. This was reported to RB.RU by a representative of NRG Ventures.
During acceleration, a startup will assess its development potential in Middle Eastern countries, moves business to the Persian Gulf (to Saudi Arabia and the United Arab Emirates), conduct pilots with Gulf corporations, receive investment from local venture funds, private investors and NRG Ventures, organizers promise.
Selection criteria:
- one of the founders comes from post-Soviet countries;
- the startup considers the Middle East region to be strategic for its business;
- priority areas: DeepTech, AI, FinTech, HealthTech, Logistics, Robotics, Cybersecurity, E-commerceFoodTech, TravelTech;
- development stage: Pre-Seed, Seed;
- first sales/sales up to $1 million per year.
The conditions of participation:
- $100,000 grant for relocation and starting a business in the region;
- an option on a startup, to be implemented when the accelerator attracts clients and investors;
- Accommodation in a coliving startup in one of the hubs in the United Arab Emirates and Saudi Arabia with at least two people from the team.
NRG Ventures will select no more than 10 startups. The program will last six months: from October 2022 to March 2023. you can apply Link until September 25.
The NRG Ventures fund was founded by former Fort Ross Ventures CEO Roman Tyan and former VK (formerly Mail.ru Group) CEO Andrey Taburinsky in 2021. The fund invests in B2B and B2C startups in the areas of logistics, delivery, EdTech, HR from pre-stage to stage A.
Author:
anastasia mariana
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
