• Tawuniya introduces a virtual accelerator program for MENA startups, focusing on insurtech innovation.
• The program includes mentorship, funding opportunities, and market access for promising ventures.
• This initiative supports Vision 2030 and enhances the regional startup ecosystem.

Tawuniya’s Virtual Accelerator

Saudi Arabia’s Tawuniya, one of the region’s largest insurance companies, launches a new virtual accelerator program for MENA startups. Aimed at fostering innovation in the insurance industry, the initiative targets emerging ventures specializing in insurtech, fintech, and other tech-driven solutions.

“This program is more than a competition; it’s a gateway for startups to innovate and potentially lead with their solutions. Through this initiative, we aim to harness the significant potential of local talents, fostering digital transformation and innovation across the region.”

Abdullah Alshargi, CTO at Tawuniya

This fully virtual accelerator offers startups access to mentorship, networking opportunities, and funding prospects, all designed to nurture groundbreaking ideas. Tawuniya’s accelerator also connects startups to the Saudi market, creating pathways for regional collaboration and growth.

Aligning with Vision 2030

The MENA region’s startup scene is booming, with over USD 3.9 billion raised in 2022 alone. Saudi Arabia, spearheading much of this growth, continues to attract entrepreneurs through initiatives like Vision 2030, which aims to diversify the kingdom’s economy and promote tech-driven industries.

Tawuniya’s virtual accelerator contributes to this vision by bolstering the startup ecosystem. By focusing on insurtech, the program addresses the increasing demand for innovative insurance solutions, including AI-driven risk assessments and user-friendly digital platforms.

Tawuniya’s track record speaks volumes. With over 9 million policyholders and USD 2 billion in gross written premiums, the company is uniquely positioned to empower startups with industry insights and market access.

Tawuniya: Tech Meets Insurance

Tawuniya’s accelerator is more than a business initiative; it’s a catalyst for the region’s insurance industry. Startups accepted into the program will gain access to state-of-the-art resources, from AI integration to blockchain-powered platforms.

The accelerator counts with support by global tech players Google and Plug and Play, and government agencies Monsha’at and Code reflects. Their involverment reflects Tawuniya’s dedication to driving advanced technologies and entrepreneurship in the MENA insurance sector.

In the long term, the program could democratize insurance, making it more accessible and affordable across MENA. By championing innovation, Tawuniya paves the way for smarter, tech-enabled insurance solutions that could reshape the sector globally.