Japan’s ASICS Ventures is inviting Saudi sports tech startups to participate in the ASICS Innovation Pitch competition, offering a prize pool of SAR 35k for the top three winners, according to the company’s website. The competition is launched in partnership with the Saudi Sports for All Federation (SFA) following a three-year partnership agreement signed with ASICS back in January.

Requirements: Startups interested in applying must be registered or based in Saudi Arabia, have been operating for over two years, and possess experience in technology and human resources. Companies must prepare feasibility studies on their proposals, and their offered products or services must be available to the market or ready for commercial operations.

By collaborating with innovative tech startups, the Japanese firm aims to promote interest in sports among Saudis and increase participation rates in physical activity, President of ASICS Ventures Akihiro Mori told EnterpriseAM Saudi.

Up for competition? Companies have until Thursday, 31 July to register via the website. The six finalists will be named on Sunday, 2 November, with the top candidate receiving SAR 20k, the runner-up getting SAR 10k, and the third-place winner earning SAR 5k. All finalists must show up on the Pitch Day in Riyadh.

Why Saudi Arabia? ASICS chose Saudi Arabia as the first Arab country to host ASICS accelerator program initiatives due to its strong economic growth prospects and the important part sports play in its national strategy, Mori told us. “Saudi Vision 2030 outlines a bold ambition to diversify the economy and improve quality of life, including a target to increase weekly physical activity participation from 13% to 40% of the population.” The Kingdom also enjoys “a large youth population and a strong interest in leveraging digital technology to create new services and industries,” he added.

Partnership with SFA paved the way for ASICS’ first competition in our neck of the woods. “It's important for us to make sure that many startups and consumers in Saudi Arabia become aware of this event. We’re truly grateful to the SFA, as they have already taken actions to promote the event through various channels,” Mori said.

ASICS is not new to the Kingdom, as it opened its first store in Riyadh in 2023. ASICS also signed a partnership agreement with SFA to sponsor the Riyadh Marathon, held in February. Globally, they hosted six accelerator programs in Japan, Europe, and India over the past seven years.

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