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RIYADH: Twenty technology startups from the fourth cohort of the Misk Accelerator program graduated on Wednesday, as announced by the foundation.
This comes in cooperation with the global innovation Plug and Play platform, through which Misk seeks to empower startups in the ¶¶Òõ¶ÌÊÓƵ.
Held in the Mohammed bin Salman Nonprofit City, the graduation took place on the day of presenting the projects that qualified for the final stage.
The program is considered one of the most essential business accelerators in the region since its launch in 2019, as it supports emerging technology companies in their initial stages.
It has enabled more than 130 startups, creating more than 2,330 jobs, with a total market value exceeding the barrier of SR1.2 billion ($320 million).
The CEO of the foundation, Dr. Badr Al-Badr, said that Misk is distinguished by its vital system, based on the vision of its founder, pointing to the endeavor to open broad and diverse horizons for young people and owners of startup companies.
This allows them to invest in their latent capabilities and develop the professional and personal skills that qualify them to lead the future of the Kingdom.
Al-Badr added that Misk harnesses all its capabilities to support youth and create opportunities for them to empower and involve them in addressing future challenges through its various paths, affiliates, and innovative initiatives and programs.
The CEO and founder of Plug and Play, Saeed Amidi, said that the commitment and achievements of these startups are an indication of the qualitative talents in the Kingdom, stressing that cooperation with Misk Foundation in supporting these technology startups is essential for the growth of the entrepreneurial environment in ¶¶Òõ¶ÌÊÓƵ.
The graduation day was attended by investors who viewed 20 presentations.
With that, technology companies can begin the next step of their entrepreneurial journey of seeking rapid growth after passing the intensive training phase, which lasted 12 weeks.