Operation of Saudi AI Startup Accelerator Program
Sparklab Group, a global accelerator and venture capital operator, announced on the 28th that it will lead 'AIM-X,' an artificial intelligence (AI) startup accelerator program in Saudi Arabia.
AIM-X is a key program promoted as part of the national initiative 'AI.M,' established by the Saudi government to drive innovation in the AI sector. Through AIM-X, Sparklab Group selects and nurtures early-stage AI startups worldwide through a systematic screening process. Selected startups receive up to $200,000 in investment, along with tailored mentoring from AI experts, networking opportunities, and benefits that enable growth based in Saudi Arabia and the development of global competitiveness.
In particular, Sparklab Group has formed an advisory panel of top AI authorities to provide high-quality mentoring to selected companies, led by Amar Awadalla, co-founder and CEO of the AI search platform 'Vektara,' Cha Sang-gyun, the inaugural dean of the Graduate School of Data Science at Seoul National University, and Spiros Margaris, a venture investor and fintech/AI expert.
The first recruitment for the AIM-X program runs until the 12th of next month, and application forms can be found on the official Sparklab Group website. The recruitment targets early-stage AI startups at the seed or Series A stage. William Chu, Managing Partner of Sparklab AI Lab, said, "We will actively leverage Sparklab Group’s capabilities to nurture AI startups with potential and contribute to building Saudi Arabia’s AI ecosystem, aiming to develop it into a global AI hub."
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