JEDDAH: Misk Innovation has announced that it is partnering with 500 Startups to launch an accelerator program for entrepreneurism.
The program, starting on January 27, 2019, will work on encouraging innovative ideas to help create jobs and raise the contribution of entrepreneurship to GDP, a statement on the Saudi Press Agency has said.
Around 500 applicants of young MENA-based companies have applied for the program, 21 of which were selected to start the program, and move forward with their emerging companies into the global business community.
The internet-based mobile travel app Mosafir is also a partner in the program to facilitate traveling.
Misk Innovations has previously signed the partnership with 500Startups which has contributed throughout 8 years in establishing 2,000 new companies in 60 countries around the world.
The agreement offers an important chance where both parties work on creating a stimulating environment for entrepreneurship.
Speaking on the occasion, Misk Innovation Executive Director Dima Al-Yehia stressed that the program is a real beginning to discover promising young talent that can lead companies capable of strengthening the economy of the future.
On his part, Essam Bin Saleh Al Dhokair, Deputy Governor of 500 Startups: “We are working in establishments to prepare, implement and support programs and projects to spread the culture and thought of entrepreneurship, entrepreneurial spirit, entrepreneurship and innovation.”