Riyadh - Sharikat Mubasher: Exel by Merak, the new gaming accelerator funded by Merak Capital’s $80 million gaming fund, opened applications for its inaugural cohort, offering a transformative platform for startups to refine their offerings, scale their businesses, and unlock investment opportunities through a structured program.
The accelerator targets nurturing the growth of gaming startups, equipping founders with essential resources, mentorship, and funding to enhance their ventures and contribute meaningfully to the global gaming landscape, a recent statement revealed.
Exel operates within the framework of the Merak Gaming Fund, a strategic initiative supported by the National Development Fund (NDF) aimed at fortifying Saudi Arabia’s gaming ecosystem.
Faisal Sedrani, Vice President and Leader of Exel by Merak, stated that the accelerator’s mission is to empower gaming founders to build sustainable businesses while connecting them to a robust network of local and international experts.
The application process is competitive, targeting startups with innovative concepts and strong growth potential. Selected participants will receive initial convertible note investment to kickstart their development, with opportunities for follow-on investments contingent on progress.
Abdullah Altamami, Founder and CEO of Merak Capital, commented: “The National Development Fund's sponsorship of the Merak Gaming Fund underscores Saudi Arabia’s commitment to cultivating a world-class gaming ecosystem. Exel by Merak is an embodiment of this vision, equipping startups with the resources, mentorship, and funding necessary for success on a global scale.”
Participants will further benefit from expert mentorship through weekly sessions with seasoned gaming professionals and ongoing support from a dedicated Entrepreneur-in-Residence (EIR).
The accelerator program begins with a two-week virtual bootcamp focused on refining business strategies, followed by a 16-week acceleration phase that emphasizes scaling, product commercialization, and investment readiness.