Startup Wise Guys (SWG), in partnership with SEEDRA Ventures and sponsored by the National Technology Development Program (NTDP), has launched the first Construction Tech Specialized Fund and Accelerator Program in Saudi Arabia to foster innovation in the construction and real estate sectors.
The Construction Tech specialized fund, boasts two seasoned General Partners, Jourdan Younis and Aya Zaghnin.
“Our aim is to actively contribute to providing cutting-edge technologies within the sector, fostering the growth and development of built assets in Saudi Arabia.” said Aya Zaghnin, emphasizing the fund’s alignment with the nation’s vision for economic diversification and technological advancement.
The partnership combines Startup Wise Guys’ extensive experience as one of the most active accelerator funds in Europe and Africa with SEEDRA Ventures’ deep understanding of the Saudi Arabian market. Startup Wise Guys and WZMH will also establish a first satellite research and development lab – Sparkbird – in Riyadh.
“The collaboration with SWG paves the way for bringing Sparkbird’s innovations, particularly those tailored for the Saudi construction market, into new partnerships with local institutions. Our inventions, including recent developments inspired by Saudi Arabia’s unique VISION 2030, align with the region’s demand for advanced Proptech and Contech solutions. This initiative represents a critical juncture where our commitment to smart building technologies and the specific requirements of Saudi Arabia meet, promising real groundbreaking advancements in the sector.” – Mohammed Al Atheri and Zenon Radewych from WZMH about the initiative.
Accompanying the fund, Startup Wise Guys introduces their signature accelerator program in the region, leveraging its expertise in nurturing B2B startups.
Startups participating in the Accelerator Program will also have the opportunity to collaborate with experts and mentors from Startup Wise Guys’ extensive network, gaining valuable insights and guidance to scale their businesses globally.
“With our extensive experience and robust network, we are poised to empower entrepreneurs and innovators in the Construction Tech space,”states Cristóbal Alonso, CEO at Startup Wise Guys.