Saudi Arabia’s General Authority for Small and Medium Enterprises, Monsha’at, has celebrated the graduation of 20 university-based startups from its accelerator program held at the University of Business and Technology (UBT) in Jeddah. The graduation ceremony was attended by officials and experts from the Kingdom’s entrepreneurship sector.
Quick Facts
- 20 university startups graduated from the program.
- Six-month accelerator held in Jeddah, Saudi Arabia.
- Part of a national push to foster student entrepreneurship.
Cultivating University-Born Ventures
The program, an initiative under the Kingdom’s Human Capability Development Program, aims to equip university students and recent graduates with the tools to develop their startup ideas and prepare them for investment. The goal is to support the growth, expansion, and long-term sustainability of these new companies.
Over a six-month period, Monsha’at provided participants with a structured series of development programs. This included specialized workshops, dedicated mentorship sessions, and expert consultations, alongside facilitating access to financing solutions and building a network with potential investors.
Pitching to Investors
During the graduation ceremony, the 20 startups showcased their business models and investment opportunities to an audience of investors and funding entities. The cohort featured a notable diversity of projects across both the technology and service sectors, reflecting the growing scope of innovation within Saudi Arabia’s entrepreneurial environment.
This accelerator is part of a wider national strategy by Monsha’at to embed entrepreneurship within university campuses. To date, the authority’s efforts have supported the graduation of approximately 260 startups through various incubators and accelerators across 12 universities in the Kingdom, directly contributing to the economic diversification goals of Vision 2030.
About Monsha’at
The General Authority for Small and Medium Enterprises (Monsha’at) was established in Saudi Arabia in 2016. Its primary mission is to regulate, support, and develop the SME sector in the Kingdom, aiming to increase its productivity and contribution to the national GDP. Monsha’at provides services, programs, and initiatives to foster a competitive and supportive entrepreneurial environment.
Source: Osoul Misr Magazine
