Twenty startups have officially entered the Saudi market after graduating from the University Business Accelerator, a joint program by Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) and the University of Business and Technology (UBT). The graduation ceremony took place at the university’s campus in Jeddah, marking a key milestone for the kingdom’s academic and entrepreneurial ecosystems.
Quick Facts
- 20 startups graduated from the program.
- First accelerator in a Saudi private university.
- Total program investment exceeded SAR 5 million.
A Strategic Push For Saudi’s Vision 2030
The accelerator, a first for a private university in the Kingdom, is a direct initiative to support the goals of Saudi Vision 2030 by stimulating investment in new ventures and diversifying the national economy. The collaboration aims to equip nascent companies with the tools needed to enter the market efficiently and contribute to the growth of the SME sector.
Sami bin Ibrahim Al-Hussaini, Governor of Monsha’at, emphasized the evolving role of academic institutions. He stated that universities are now “vital platforms for creating opportunities, incubating talent, and launching projects capable of growth, competition, and achieving tangible economic impact.”
Al-Hussaini noted that the 20 graduating companies successfully developed mature business models, showed promising revenue indicators, created new jobs, and increased their investment readiness. He also thanked the program’s operational partner, Falak Business and Investment, for its role in executing the accelerator and transferring operational and investment expertise to the cohort.
Redefining The University’s Role In Entrepreneurship
From UBT’s perspective, hosting the accelerator represents a significant step in transforming the university into a driver of innovation. Dr. Abdullah bin Sadeq Dahlan, Chairman of UBT’s Board of Trustees, highlighted that the initiative is the first of its kind and aligns with the vision of building a diversified, innovation-based economy.
“This event is not just a closing ceremony; it embodies the vital role of modern universities as engines of innovation and platforms for empowering entrepreneurs by linking academic knowledge with market requirements,” Dr. Dahlan said.
Dr. Weam Hosni Tunsi, President of UBT, added that the program reflects the university’s commitment to building “a generation of initiators and innovators, capable of moving from a culture of job-seeking to one of opportunity creation.”
Securing Investment and Showcasing Growth
The program’s impact was underscored by its financial backing and the immediate results seen at the graduation ceremony. Dr. Basma bint Mohammed Zainuddin Al-Zain, Director General of the Technology Valley at UBT, revealed that the total investment in the program surpassed SAR 5 million.
The event culminated in the 20 startups pitching their projects to an audience of investors. Several of the graduating companies successfully secured investments, signaling strong investor confidence in the quality of ventures emerging from the accelerator. The graduates showcased their projects in an accompanying exhibition, offering attendees a look at innovative solutions across various sectors.
About The University Business Accelerator
The University Business Accelerator is a strategic partnership between Saudi Arabia’s Monsha’at and the University of Business and Technology (UBT), with Falak Business and Investment as the operational partner. The program is designed to support and empower early-stage, university-affiliated startups, providing them with the necessary resources, mentorship, and investment opportunities to launch successfully into the Saudi market and contribute to the national economy.
Source: Al Hadath
