The Saudi Space Commission has announced the launching of the first cohort of the entrepreneurship accelerator “Space Accelerator Program,” of which the commission aims to qualify local and international entrepreneurs to branch their creative ideas out into the space sector and technologies in collaboration with “TechStars,” a worldwide pioneering enabling platform for innovation.
The space accelerator is considered a part of the commission’s vision and initiatives to increase support towards the entrepreneurship ecosystem for international and local startups, promoting innovative ideas to this end the space and supporting sectors, enabling local startups to grow and support their expanding international plans.
The first cohort of the “space accelerator” will incubate 15 local and international start-ups for ten weeks to provide them with guidance and direction package services and supporting sources for rapid expansion and growth.
The commission has outlined that the fifteen participants were elected from 291 applicants from more than 29 countries worldwide and added that the accelerator is an extensive program combining several training programs, including product and business development, funding, and marketing.
The participants will also receive guidance from 40 international experts and mentors as well as direct access to the global network, which will enable communication with international and local capital companies “TechStars” and the necessary backstopping of diverse expertise and tools from the Saudi Space Commission to overcome obstacles and raise success chances for participants.