Saudi Space Commission has launched its Saudi Space Accelerator Program, seeking to enhance the national space sector through the development of its infrastructure and enabling local businesses to advance innovative space solutions.
The programme, which is in line with the Kingdom's vision of becoming a global hub of innovation by 2030, addresses the current state in the Kingdom's space sector and proposes proactive space solutions.
Through the implementation of this programme, the commission will ignite the local ecosystem and determine its maturity level, and to ensure that the sector remains viable for years to come, by providing an established business environment for growth and innovation for entrepreneurs to thrive in – overall improving the effectiveness of the commission's future programs and initiatives over the long-run.
The Saudi Space Accelerator Program is being supported by a greater initiative; The future Office for Entrepreneurship Development, that seeks to establish a new business unit within the commission dedicated to enabling the entrepreneurial space scene in the Kingdom. It aims to assess the current state of the sector, adopt best global practices, and develop a roadmap for local businesses.
As for the Saudi Space Accelerator Program, it focuses on providing support to both local and international startups, which will enhance the promising and emerging space sector in the Kingdom. Participating entrepreneurs and startups will be supported in aligning their projects with internationally recognized best practices to achieve the Kingdom's 2030 goals.
By partnering with Techstars, the Saudi Space Commission is launching its first cohort in January 2023 to kickstart this new momentum. Through this first cohort the commission can access a niche market focused on space-related technologies, including drones, avionics, advanced structures, geospatial analytics, and a host of other technologies that contribute to the space industry development.
Aspiring entrepreneurs, both international and local, who are interested in developing their innovative solutions in the space sector are encouraged to apply for the first cohort of the Saudi Space Accelerator Program before December 12.
Qualified startups who meet the criteria will receive numerous benefits, including support from the commission, access to investors, financial support of up to SR60,000 ($15,980) for each startup, specialized training from international experts, networking opportunities, and one-on-one mentorship. – TradeArabia News Service