The Saudi British Bank (SABB) honored the first batch of graduates of the Taqadam startup accelerator program during a special ceremony.
The event was attended by Hamam Hashem, director general of the KAFALA Program, which helps to secure financing for small and medium enterprises (SME); Mowaffaq Jamal, deputy governor SME General Authority for Development of Regions and Sectors; and David Dew, SABB’s managing director, along with senior government officials, representatives from the private sector, and experts on SMEs and start-ups.
In the opening speech, Bader Al-Saloum, deputy general manager of commercial banking and supervisor of the SABB SME Initiative, said the Taqadam program, in cooperation with King Abdullah University of Science and Technology (KAUST), is an example of a major SABB initiative in support of the Kingdom’s Vision 2030, and of the bank’s aim to assist and support the SME sector, one of the most important elements for the Kingdom’s economic development.
The program also constitutes one of the social initiatives adopted by SABB as part of its responsibility toward the community, and to complement its pioneering role in supporting young people’s aspirations and contributing to developing a generation capable of leading the country in the fields of trade, industry, knowledge and technology.
Dr. Kevin Cullen, KAUST’s vice president of innovation and economic development, said the partnership with SABB would accelerate university projects and support entrepreneurs. He praised the quality of the teams and their potential benefits to the Saudi economy. He also pointed out that the aim of the partnership, to promote creativity and innovation, is in line with the Kingdom’s Vision 2030.
In this inaugural Taqadam program, 160 initiatives were submitted from 13 universities, 30 of which were selected by a panel of experts. Each team received financial support, along with scientific expertise and practical skills in workshops lasting six months. Six teams of entrepreneurs were selected as champions, with the prospect of further funding, mentorship and advice.
The event was attended by Hamam Hashem, director general of the KAFALA Program, which helps to secure financing for small and medium enterprises (SME); Mowaffaq Jamal, deputy governor SME General Authority for Development of Regions and Sectors; and David Dew, SABB’s managing director, along with senior government officials, representatives from the private sector, and experts on SMEs and start-ups.
In the opening speech, Bader Al-Saloum, deputy general manager of commercial banking and supervisor of the SABB SME Initiative, said the Taqadam program, in cooperation with King Abdullah University of Science and Technology (KAUST), is an example of a major SABB initiative in support of the Kingdom’s Vision 2030, and of the bank’s aim to assist and support the SME sector, one of the most important elements for the Kingdom’s economic development.
The program also constitutes one of the social initiatives adopted by SABB as part of its responsibility toward the community, and to complement its pioneering role in supporting young people’s aspirations and contributing to developing a generation capable of leading the country in the fields of trade, industry, knowledge and technology.
Dr. Kevin Cullen, KAUST’s vice president of innovation and economic development, said the partnership with SABB would accelerate university projects and support entrepreneurs. He praised the quality of the teams and their potential benefits to the Saudi economy. He also pointed out that the aim of the partnership, to promote creativity and innovation, is in line with the Kingdom’s Vision 2030.
In this inaugural Taqadam program, 160 initiatives were submitted from 13 universities, 30 of which were selected by a panel of experts. Each team received financial support, along with scientific expertise and practical skills in workshops lasting six months. Six teams of entrepreneurs were selected as champions, with the prospect of further funding, mentorship and advice.
