InspireU, an accelerator program launched by the Saudi Telecom Company (STC) to support startups and entrepreneurship in the region, has announced that it will continue to incubate startup projects in its sixth and seventh intakes, despite the difficult conditions that countries all over the world are facing due to COVID-19.
Since its establishment in 2015, the program has launched 38 startups, offering them support through many services such as financing, training and consulting. The startups have obtained investments amounting to SR60 million ($16 million) and the market value of these investments currently stands at SR300 million. Around 16 million users are benefitting from the InspireU projects, which have contributed to the creation of 160,000 job opportunities, including part-time jobs.
Othman Dahash Aldahash, corporate development VP at STC Group, said that among InspireU’s many successful accomplishments, is the adoption by the Ministry of Communications and Information Technology of a number of projects supported by the program in the field of marketing and learning, in order to facilitate people’s lives during the pandemic. The Saudi government has taken a number of precautionary measures to limit the spread of the coronavirus in the Kingdom, encouraging all residents to stay at home and work remotely.
Aldahash added: “We are proud to see that InspireU’s outputs are contributing to the Kingdom’s digital economy and this is only a testament to our effective role in digital empowerment.”
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160,000 job opportunities have been created by 38 startups adopted by STC’s InspireU accelerator program, since its establishment in 2015.
The projects adopted within the initiative taken by the Communications and Information Technology Commission to facilitate online shopping and distance learning include the Mrsool application, which provides delivery services, and the Haseel application, for the delivery of fresh fruits and vegetables. The fruits and vegetables are delivered to the customer in refrigerated cars after processing them in a private laboratory to maintain the highest quality.
Zid app, a mobile app for retailers that simplifies e-commerce and makes it accessible at a competitive cost, has also been adopted by the commission. Another project, Voxel, carries out air thermal scans using drone technology to accurately and rapidly check body temperatures of people in crowded places in Al-Qassim.
Carwah is an e-platform that allows customers to find cars to rent across the Kingdom. It facilitates car bookings from all nearby branches offering customers the option to choose from thousands of economic, sedan and luxury vehicles. Customers can book a car in their name and have it delivered to their location at competitive prices.
In the field of education, the Dhad application for audiobooks has been adopted, offering a large collection of Arabic books and novels that can be accessed at any time free of charge.
