The Sahaba Accelerator, a landmark initiative by Saudi Arabia’s Ministry of Environment, Water, and Agriculture (MEWA), has successfully concluded the second phase of its program in Amsterdam, generating significant momentum for the global water technology sector. The cohort of international startups attracted initial investment rounds exceeding SAR 126 million (approximately $33.6 million), cementing the Kingdom’s growing position as a strategic hub for water innovation.
A Global Bridge for Water Innovation
Spanning 12 weeks between Riyadh and Amsterdam, the Sahaba Accelerator is designed to build a global bridge for innovation in the water sector. The program supports the growth of startups developing cutting-edge water technologies, providing them with a unique platform to scale within the expansive Saudi market and subsequently expand to other global markets. This dual-location approach fosters cross-continental collaboration and provides startups with unparalleled access to resources and expertise in both regions.
Attracting Global Startups and Capital
The accelerator’s second cohort featured 11 promising startups from 10 different countries, highlighting the program’s international appeal. The participating companies successfully signed 15 Memoranda of Understanding (MoUs) and cooperation agreements throughout the program. The successful fundraising of over SAR 126 million underscores the growing global investor confidence in Saudi Arabia’s investment landscape and the immense opportunities within its water sector, which is a key priority under Vision 2030.
Forging Strategic International Partnerships
During the program’s conclusion in the Netherlands, Deputy Minister Eng. Mansour Al-Mushaiti held a series of strategic meetings with leaders from prominent global venture capital funds specializing in water and sustainability, including Pura Terra and Anterra Capital. Discussions also took place with GE Aqua, a major billion-dollar company with a keen interest in the Middle East’s water sector. These dialogues focused on exploring avenues for collaboration, knowledge exchange, and unlocking new investment opportunities to support the Kingdom’s ambitious water security objectives.
About Sahaba Accelerator
The Sahaba Accelerator is the first program of its kind in the MENA region, launched by Saudi Arabia’s Ministry of Environment, Water, and Agriculture. Its core mission is to attract and empower innovative water technology startups from around the world. By connecting them with the Kingdom’s thriving entrepreneurial ecosystem, the accelerator aims to fast-track the adoption of advanced solutions that contribute directly to achieving water security and ensuring the sustainability of natural resources, in line with the goals of Saudi Vision 2030.
Source: Alyaum
