RIYADH: The city of NEOM has launched the “Seven Senses” accelerator, the Saudi Press Agency reported on Friday.
It aims to build an integrated system for entrepreneurship in the regions of NEOM and Tabuk, and to support small and medium-sized enterprises, craftsmen, professionals, innovators, and innovative businesses capable of bringing about change.
From March 26 until May 14, the accelerator will receive applications from innovators and entrepreneurs who wish to join the intensive training camp that qualifies them to compete for a place in the accelerator.
The camp begins on May 28 and lasts for two days, during which 150 entrepreneurs will receive training in various skills, including the basics of successful business, understanding customers and attracting investors.
Participants will have the opportunity to present their offers to a committee of experts to obtain advice.
Following the training camp, the best competitors will be selected to participate in the accelerator program, which extends virtually over 10 weeks, from May to August, and ends with a trial day in Tabuk to present their projects and products.
During the program period, participants will be provided with the latest applications and practices through sessions, and various mentorships with experts.
Participants who pass the program will have the ability to meet the requirements for applying to NEOM projects, and take advantage of available investment opportunities.
Meshari Al-Mutairi, executive director of government affairs at NEOM, said: “The idea of the NEOM accelerator program ‘Seven Senses,’ which was designed after extensive studies of the market reality, came to support entrepreneurs and owners of emerging companies in the regions of NEOM and Tabuk, through scientific and practical paths that contribute to developing their capabilities.”
He added that this will enable them to provide services according to the standards and requirements of projects in NEOM, in addition to expanding and sustaining their business in line with the goals of Vision 2030.
The accelerator will be followed by the launch of an educational training platform in Arabic, under the supervision of local and international experts in the field of entrepreneurship.
Later, joint work experiences will be organized to support emerging entrepreneurs and establish innovative production laboratories.