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NEOM launches accelerator to support entrepreneurs in Saudi Arabia

The program aims to support SMEs and innovative businesses.

NEOM launches accelerator to support entrepreneurs in Saudi Arabia
[Source photo: NEOM 7 Senses | Anvita Gupta/Fast Company Middle East]

Saudi Arabia’s futuristic city of NEOM has launched Seven Senses, a new accelerator program, to boost entrepreneurship in the NEOM and Tabuk regions. 

Launched by NEOM’s social responsibility department, the program aims to support SMEs, craftsmen, professionals, innovators, and innovative businesses capable of bringing change in the two regions. 

Until May 14, the accelerator is welcoming applications from innovators and entrepreneurs. Though it’s open to all sectors, it particularly encourages individuals skilled in perfumery, pottery, jewelry, clothing, and skincare who want to build their brand. In addition, the program is keen on freelancers in the food service, new media, arts and culture, and public service, as well as SMEs in arts and culture, tourism, public service, food service, new media, and contracting. 

The program begins with an intensive two-day entrepreneurial boot camp on May 28. During the boot camp, 150 entrepreneurs will receive training in various fields, including the basics of building a business, understanding customers, and attracting investors. Participants can present their concepts and proposals to a panel of experts to compete for a place in the accelerator, which will be held virtually for ten weeks from May to August. 

The accelerator program concludes with a trial day in Tabuk, wherein participants will present their projects. Upon completing the program, participants will get priority access to entrepreneurial opportunities in NEOM and take advantage of available investment opportunities. 

“The idea of ​​​​the NEOM accelerator program Seven Senses, which was designed after extensive studies of the market reality, came to support entrepreneurs and owners of emerging companies in the regions of NEOM and Tabuk through scientific and practical paths that contribute to developing their capabilities,” said Meshari Al Mutairi, Executive Director of Government Affairs at NEOM.

The accelerator will be followed by the launch of an educational training platform in Arabic, led by local and international experts in the field of entrepreneurship. 

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