24 Hrs
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الاقتصادية
Nineteen startups vie for one million riyals at Jeddah Valley
Nineteen startup companies competed within the Jeddah Valley Innovation Incubator Camp, in collaboration with Jeddah Valley Company owned by King Abdulaziz University, to secure an investment of one million riyals. Ten companies will be selected to receive financial support and developmental programs over six months. The program aims to develop their products and enhance the founders’ readiness, with plans to increase the number of incubated companies to 40 by the end of 2023, and to reach 70 companies by 2026. Additionally, there is work underway to launch a new investment fund in partnership with a private entity to directly support startups. This reflects the significant growth in the Saudi entrepreneurship ecosystem and the evolving entrepreneurial environment, especially with the emergence of tech and innovative companies that have achieved valuations exceeding one billion dollars.
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