Nineteen Startups Vied for 1M Riyals

The article focused on the competition among 19 startups within the Jeddah Valley Innovation Incubator Camp in Saudi Arabia, aiming to secure shares of a total investment of 1 million SAR. Ten companies will be selected from these and provided with funding of 100,000 SAR each. The incubation process will last for six months and will include investment readiness and product development. Additionally, work is underway to launch a new investment fund in collaboration with a private entity to directly finance startups, as part of efforts to support the entrepreneurship ecosystem and reduce technical challenges. The incubator expects the number of startups to increase to 70 by the end of 2026, with a noticeable growth in the Saudi innovation and entrepreneurship sector overall.

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