The accelerator will provide more than 6.5 million riyals ($1.73 million) as financial support for start-ups in growth mode.
The Saudi National Cybersecurity Authority (NCA) has launched its new cybersecurity accelerator and invited local start-ups to register on 23 August 2022 on the nca.gov.sa website.
The cybersecurity accelerator is part of Saudi NCA’s CyberIC program aimed at the development of the cybersecurity sector in the country. The accelerator is one of the tools and its program is designed to increase the number of cybersecurity start-ups by linking them to investors. The program will target 40 start-ups over three years.
The accelerator will provide more than 6.5 million riyals ($1.73 million) as financial support for start-ups in growth mode and more than 500 hours of guidance and direction.
Additionally, the accelerator aims to strengthen the entrepreneurship ecosystem in KSA and encourage innovative and creative solutions to cyber challenges across various disciplines, including data security, cloud security, internet of things security, artificial intelligence security, and proactive information about cyber threats.
Saudi’s NCA is launching the accelerator in partnership with Saudi Information Technology Company (SITE) and Plug and Play, one of the largest technology business accelerators in the world.
Both SITE and Plug and Play will contribute to the program by assisting start-up businesses with training and providing a supportive environment throughout the program.