19 MENA Startups Graduate From the Second Exel by Merak Accelerator Cohort

Why It Matters

The accelerator’s funding and early revenue validate the region’s emerging game development talent, accelerating Saudi Arabia’s ambition to become a leading gaming hub under Vision 2030. It also signals growing investor confidence in MENA’s mobile and console market potential.

Key Takeaways

• 19 MENA studios graduate, each receiving $300k funding
• Cohort 2 generated $1.2M early revenue, 2M impressions
• Accelerator backed by $80M fund fuels Saudi gaming growth
• Cohort 3 applications slated for April 2026 launch
• Graduates span mobile, PC, console, co‑op, RTS, RPG

Pulse Analysis

The Exel by Merak accelerator, backed by an $80 million fund from Merak Capital, is a cornerstone of Saudi Arabia’s Vision 2030 strategy to diversify its economy through digital entertainment. By offering substantial seed capital, mentorship, and access to global distribution channels, the program aims to transform the Kingdom into a regional hub for game development, attracting both local talent and foreign investors seeking entry to the fast‑growing MENA market.

Early results from Cohort 2 underscore the accelerator’s impact: participating studios have already generated $1.2 million in revenue and amassed more than 2 million social media impressions. The cohort’s portfolio spans mobile, PC, console, co‑op, RTS, RPG and hybrid‑casual genres, reflecting a broad creative pipeline that aligns with the region’s strong mobile‑first consumer base. This diversity not only mitigates market risk but also positions MENA studios to compete on a global stage, leveraging localized narratives and culturally resonant IP.

Looking ahead, the upcoming Cohort 3, slated for April 2026, signals sustained investor confidence and a maturing ecosystem. As more studios graduate with proven revenue traction, larger publishers and venture funds are likely to pursue follow‑on investments, accelerating consolidation and cross‑border collaborations. The accelerator’s success could catalyze ancillary services—such as localization, cloud gaming infrastructure, and talent training—further embedding Saudi Arabia within the worldwide gaming value chain.