https://arab.news/yy3ty
- Program offers consulting, mentorship, and international exposure to participating startups
- Initiative runs for 10 months and is designed to foster entrepreneurship
RIYADH: 抖阴短视频鈥檚 entertainment sector is set for further growth as part of major initiatives aimed at supporting 32 startups and driving innovation in the industry.
The General Entertainment Authority has launched the third edition of its accelerator program, offering consulting, mentorship, and international exposure to participating startups, the Saudi Press Agency reported.
The initiative, which runs for 10 months, is designed to foster entrepreneurship and align with Vision 2030鈥檚 goal of economic diversification.
The accelerator will support startups through two cohorts, each comprising 16 businesses. Participants will receive 192 hours of expert guidance, co-working spaces, and two international trips to explore global markets and trends.
With the entertainment sector expected to generate 450,000 jobs and contribute 4.2 percent to 抖阴短视频鈥檚 gross domestic product by 2030, the initiative seeks to strengthen the ecosystem, enhance innovation, and attract investment.
Building on the success of previous editions, the first accelerator program, launched in 2023, approved 14 projects following a rigorous selection process. Entrepreneurs benefited from workshops, mentorship, and access to investors.
The second edition, launched in mid-2023, continued these efforts, helping startups overcome challenges and grow in a rapidly expanding market.
The second edition, launched in mid-2023, continued these efforts, helping startups navigate challenges and achieve growth in a rapidly expanding market.
Tailored programs will assist startups in navigating the entertainment industry鈥檚 unique challenges and improve their chances of success.
The GEA emphasized that this initiative also supports its broader goal of positioning 抖阴短视频 as a regional entertainment hub.
Scheduled to run for 10 months, the initiative is expected to significantly impact the entertainment sector, aligning with Vision 2030鈥檚 objectives.
In March 2023, GEA approved 14 projects for its inaugural Entertainment Activities Business Accelerator, aimed at providing a stimulating environment with guidance, training, and connections to industry experts and investors.
The selection process for the first cohort began with 260 project registrations, with 60 advancing to initial interviews. A jury ultimately shortlisted 22 initiatives, approving 14 projects.
Participants engaged in an intensive training program, including weekly workshops, individual consulting sessions with specialists, and interactions with successful business owners.
The program also included mentorship, setting weekly goals to monitor progress and prepare participants for pitching their ideas to investors.
In June 2023, GEA organized sessions with speakers and consultants to guide entrepreneurs. The event featured 56 hours of counseling, with eight speakers and three consultants from prominent Kingdom-based entrepreneurs.
Building on the first accelerator鈥檚 success, GEA opened registration for the second Entertainment Business Accelerator in July 2023. The program ran from July 24 through the end of October, continuing GEA鈥檚 efforts to support startups and foster a conducive environment for entrepreneurs in the entertainment sector.