20 startups join elite Saudi business boost program

Twenty young entrepreneurs have joined an elite Saudi enterprise program aimed at boosting their business startups.

The innovators selected from throughout the Kingdom and the Middle East and North Africa (MENA) region will take part in the three-month Misk 500 Accelerator Program.

The training project, organized by the Initiatives Center of the Prince Mohammed bin Salman bin Abdul Aziz Foundation (Misk) represented by Misk Innovation, was launched on Sept. 10, in Riyadh.

Hundreds of entrepreneurs applied to participate in the special training scheme designed to develop their ideas and help make their companies business success stories.

The selection process took place last July and the latest group will become the second wave of trainees after 19 startups joined the accelerator last May.

It includes a program supervised by one of the largest global corporations supporting entrepreneurship and startups through training sessions and workshops in fields including communications, sales, client meetings, data analysis, recruitment, financing, and products and system building.

Each successful applicant for the program will receive SR187,000 ($50,000).

During the training period, the program supports creative ideas to help improve job opportunities and give promising young talent the chance to integrate into local and global business networks.

Misk Innovation works to improve professional and skills training for youth, empowering them to acquire the necessary competences for the future and obtain top-quality international training in technology, innovation and entrepreneurship.

The ultimate aim is to help them launch business ventures that contribute to the development of their societies, countries and the world.

Misk 500 supports startups in cooperation with Silicon Valley’s best business accelerator, 500 Startups.