Saudi Arabia’s General Authority for Small and Medium Enterprises, Monsha’at, has graduated 20 university startups from its business accelerator at King Khalid University in Abha.
The startups presented their business models and investment opportunities to investors and financing institutions during a graduation ceremony, while showcasing products and services at an accompanying exhibition. Their projects span health technology, artificial intelligence, agricultural technology, tourism, education and experience design.
The six-month accelerator provided workshops, mentoring sessions, specialised consulting, financing access and investor connections. According to the announcement, participating startups increased their customer numbers by more than 97%, revenue by over 198% and employment by more than 196%. They also presented investment rounds worth about SAR 9 million and secured 44 deals and contracts.
The university accelerator programme, part of Saudi Arabia’s Human Capability Development Program, supports university-affiliated founders, students and recent graduates by developing business models and improving investment readiness.
This year, the programme graduated 60 startups from King Khalid University, University of Business and Technology, and Princess Nourah bint Abdulrahman University. Monsha’at said its university entrepreneurship initiatives have supported 300 startups through programmes delivered with universities across Saudi Arabia.
Source: Saudi Press Agency
