Saudi Aramco’s entrepreneurship arm Wa’ed on Wednesday launched its first roadshow event to unearth and fund the next generation of Saudi entrepreneurs.
Wa’ed has up to SR100 million ($27 million) at its disposal to hand out in loans and venture capital investments to commercially feasible ventures that would fill existing gaps in the Kingdom’s economy.
Aiming to support game-changing ideas that will create new jobs, the Wa’ed entrepreneurship roadshow will hold a series of events in six Saudi cities from September to December.
Jubail, Yanbu, Riyadh, Jeddah, Makkah, and Madinah will play host to the tour being organized in association with some of Wa’ed’s key partners, including the Royal Commission for Jubail and Yanbu, Monsha’at, the Saudi General Authority for Small and Medium Enterprises, development firm Namaa Almunawara, and investment company Wadi Makkah.
“These shows are a coordinated effort with our partners to find and fund new entrepreneurs who will add value to the Saudi entrepreneurial ecosystem and accelerate the pace of economic diversification in the Kingdom,” said Wassim Basrawi, Wa’ed managing director.
Wa’ed’s aim is to seek bold ideas with potential to positively contribute to the development and diversification of the Saudi economy.
Also published on Medium.
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