Startup Seed Fund
The “Startup Seed Fund" adopts a highly diversified systematic investment plan that aims to reduce the risks faced by VCs along with the administrative and legal costs faced by startups at early stages. The fund is also designed to provide support and investment in Saudi startups, provide various ways to support innovation, and create space for pioneering Saudi youth to develop their technology startups and expand their scope in the region.
With a fund size of USD 150 Million SAR, Startups Seed Fund is investing in up to 20+ early-stage startups, during its 3 years investment period. Flat6Labs Riyadh will provide seed capital to 8-10 startups per cycle, with each company receiving up to SAR 750K in cash seed funding for a maximum of 10% equity upon joining the program. Upon completion of the Flat6Labs Riyadh Seed Program, graduate companies with the strongest potential, and those that have secured investments from third parties, are eligible for a follow-on funding ticket of up to 1.5 million SAR.
The fund aims to develop the capacity of more than 180 entrepreneurs, create more than 6,000 jobs in the private sector of KSA, and enable Saudi companies to expand in the region through the Flat6Labs regional offices. It will contribute to completing the structural transformation process that KSA aspires to by increasing the digital economy’s share of GDP and enhancing the contribution of the non-oil private sector.