The Small and Medium Enterprises General Authority of Saudi Arabia, Monsha’at, has launched the Dates Business Accelerator program across the key regions of Al-Ahsa, Al-Madinah, and Al-Qassim. The 15-week initiative is designed to cultivate the growth of SMEs within the agricultural sector by leveraging local and global best practices, culminating in direct exposure to investors.
The program aims to bolster the Kingdom’s prominent dates industry by empowering a new generation of innovative companies.
SAR 3 Million to Bolster 30 Startups
Sami Al-Hussaini, Deputy Governor for Planning and Development at Monsha’at, announced that a total of SAR 3 million has been allocated to the program. This fund will be distributed among 30 participating startups, with each company receiving SAR 100,000 to stimulate their development and growth throughout the accelerator.
The program will select 10 startups from each of the three designated regions, ensuring a broad and impactful reach within the sector.
Cultivating Growth Beyond Capital
The accelerator offers a comprehensive support system tailored for the dates industry. Al-Hussaini detailed that the program includes dedicated guidance and mentorship sessions, provides entrepreneurs with vital market research, and equips them with essential tools like marketing and financial plans. Participating startups will also gain access to critical data sources to inform their future strategies, including consumer statistics and user behavior analysis.
Monsha’at’s support extends to crucial operational areas, including team development, organizational structuring, business plan refinement, funding strategies, and sales development. Furthermore, the accelerator will provide guidance on intellectual property rights, legal consulting, and building brand awareness through public relations to create integrated marketing plans.
About Monsha’at
The Small and Medium Enterprises General Authority (Monsha’at) is the primary government entity in Saudi Arabia responsible for supporting, developing, and nurturing the SME sector. It works to create a thriving entrepreneurial ecosystem by providing funding, training, and advisory services, aiming to increase the SME contribution to the Kingdom’s GDP in line with Saudi Vision 2030.
Source: Maaal
