Riyadh - Sharikat Mubasher: Saudi Arabia’s Small and Medium Enterprises General Authority (Monsha’at) celebrated the graduation of 25 startups from Qassim University's business incubator among the University Startups Initiative Program, the authority announced in an official statement.

The ceremony was attended by Sami Al Hussaini, Governor of Monsha’at, and Muhammad Al-Sharekh, President of Qassim University.

The incubator aims to facilitate the transition of creative ideas and university graduation projects into startups that can enter the market and secure investments.

Throughout the training, startups increased their client base by 35% and successfully closed two investment rounds worth around SAR 500,000.

The University Startups Initiative Program graduated 75 university startups since its launch in 2023, in collaboration with three government universities in Riyadh, Al-Ahsa, and Qassim.

It provided around 549 programs and services and more than 900 hours of consultancies and training sessions with the participation of over 70 trainers. It contributed to raising six investment rounds amounting to SAR 2 million.

The initiative focuses on disseminating an entrepreneurial culture, delivering support programs tailored for students, championing innovators and creators, and enhancing their capabilities through a comprehensive suite of guidance and awareness initiatives.