A local company here says it would create 30,000 new jobs for Saudis this year by assisting start-ups expand their businesses.

Qutoof Al-Riadah Company celebrated Monday the graduation of its first group of entrepreneurs from the “Flat6Labs” program, the Kingdom’s first leadership program backed by the private sector that aims to promote and develop the skills of Saudi entrepreneurs.

The event took place in Jeddah in the presence of Minister of Trade and Industry Tawfiq Al-Rabiah, chief executive officers of supporting companies, businesspeople and the media.

Ghassan Al-Sulaiman, chairman of Qutoof Al-Riadah company, which sponsors the leadership program, told Arab News that the program would provide more than 30,000 jobs for Saudi start-ups and entrepreneurs over the next year.

Over the past few months, a group of businesspeople joined the program to receive training and financial aid to help them enter the labor market, he said.

Qutoof Al-Riadah was established with the support of the Ministry of Labor specializing in planning and implementing projects related to entrepreneurship. The first “Jeddah Flat6Labs” program for entrepreneurs aims to provide investments to small companies in their early stages, in collaboration with the Egyptian Sawari Ventures company, a leading company in the field that has succeeded in launching 30 tech firms in just two years.

Al-Sulaiman said Qutoof Al-Riadah provides support from sponsors including Saudi Cement Company and IKEA Saudi Arabia.

Under the leadership program participants enroll in training courses for three months to help gain the necessary skills to enhance their business models and attract the attention of potential investors.

He said that their role as sponsoring founders of the program is to support the Flat6Labs programs, which will assist entrepreneurs through training and funding, and help emerging companies transform into reputable firms. This process, he said, will eventually lead to the creation of more jobs in various fields for Saudi professionals.