group announced stcPossible digital transformation in the region, and the value of the investments obtained by the entrepreneurs participating in the accelerator inspireU To more than 700 million riyals, the group also announced the expansion of the accelerator by launching a new program that provides additional support for emerging technology companies, as part of its endeavor to support entrepreneurship, enable innovation in the Kingdom, and contribute to strengthening the digital economy in technical fields..
The announcement came during the graduation ceremony of the ninth batch of the program inspireU Which was held at the King Abdulaziz Telecom Complex in Riyadh, in the presence of the Chairman of the Board of Directors of the Group stc Prince Muhammad bin Khalid Al-Abdullah Al-Faisal, Deputy Minister of Communications and Information Technology, Engineer Haitham bin Abdul-Rahman Al-Ohali, and CEO of the Group stc Engineer Olayan bin Muhammad Al-Wateed, and witnessed the presentation of a comprehensive presentation dealing with the number of projects incubated by the program 71 project.
On this occasion, the Chief Investment Officer of the Group stc Engineer Moataz Al-Anqari, to the leading role of the accelerator inspireU In the field of supporting entrepreneurs and startups and enabling them to develop new businesses in the technical field as one of the main pillars of the company’s strategy stc In this area. Al-Anqari said: I succeeded quickly inspireU Since its launch, the program has enabled more than 90 emerging digital projects in various fields; The market value of investments and financial transactions for project products incubated by the program amounted to more than 12 billion riyals. More than 40 million users have also benefited from projects inspireU Entrepreneurship that provided more than 600,000 job opportunities, which confirms the contribution of stc In promoting the digital economy, creating job opportunities, and supporting local content by transforming entrepreneurs’ ideas into successful projects.
Al-Anqari concluded: It intends stc by accelerating business inspireU By launching an advanced program to enable and develop emerging companies, help them grow their business, increase revenues and improve their competitiveness in the market, in order to achieve a prosperous and technologically advanced future, based on strategic investments and sustainable growth..
The ninth batch included a special track to support projects in the field of cybersecurity, in cooperation with a company thin from stcDigital provider of cyber security services. This track aims to promote local content and enable digital cyber projects, as it witnessed the organization of a number of workshops and specialized technical advisory sessions.
and concentration inspireU As the leading business accelerator in the Kingdom and the region, as it embraces technical projects and transforms them into leading companies that contribute to building the digital economy in the Kingdom, in addition to its effective role in attracting and increasing foreign investment in the local market by highlighting projects globally. Through its programs, the accelerator works to enable these projects by providing an environment conducive to growth that includes financial support, logistical and advisory services, in addition to an intensive training program under the supervision of the most important experts and consultants in Silicon Valley covering many diverse fields and includes organizing workshops and meetings with many entrepreneurs. and guides.
Accelerated supports inspireU The projects seek to obtain investment and link with investors and investment funds in the market, and the value of the free services it provides to emerging projects is about 600 thousand riyals. The program provides entrepreneurs with office space, promotes their projects, and provides opportunities to participate in the most important events, from workshops to national and international exhibitions.
Recall that speeding inspireU The door to apply for the tenth batch has opened, through the following link:
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