The National Entrepreneurship Institute "Riyadah" is a non-profit institutional organization, directed at small and start-up enterprises and those interested in self-employment. It was established through an initiative by the Ministry of Energy in the Kingdom of Saudi Arabia and the Technical and Vocational Training Corporation. The institute provides training, qualification, and guidance through specialists in entrepreneurship, utilizing the latest technologies and methods. It supports start-up projects in obtaining financing and facilitates government procedures
National Entrepreneurship Institute partners
The National Entrepreneurship Institute is a partnership between the public and private sectors, established by six entities: the General Authority for Small and Medium Enterprises, the Technical and Vocational Training Corporation, Saudi Aramco, Saudi Basic Industries Corporation "SABIC", Saudi Telecom Company "stc", the Social Development Bank, and Alinma Bank.
National Entrepreneurship Institute objectives
"Riyadah" aims to promote a culture of self-employment within the community, enhance the development of small and start-up businesses, and qualify specialized cadres in entrepreneurship. It empowers entrepreneurs to stay updated with industry developments, provides job opportunities for citizens by supporting their own projects, and offers support for entrepreneurs during the first two years of their projects to ensure their sustainability.
National Entrepreneurship Institute programs
The institute offers three programs to support small and start-up businesses and self-employment, which are:
- Iradah Program, including the Startup Track, which funds small projects with up to SAR300,000, and the Graduates Track, directed at bachelor's and diploma holders in the field, providing support with a funding limit of up to SAR500,000.
- Tawteen Program, which aims to enhance the financial independence of families and individuals by providing various financial and non-financial services to assist citizens who wish to start projects and enter the labor market. It also contributes to the localization of certain business activities. It provides funding for projects up to SAR300,000 and with an investment cost of up to SAR500,000, subject to the program's requirements.
- The Mobile Sales Vehicles Program, which benefits citizens who wish to own mobile sales vehicles, provided they meet the program's requirements. It offers support with funding of up to SAR250,000 and an investment cost of up to SAR500,000.
The institute also offers short-term courses to promote a culture of self-employment within the community. These include courses such as: Fundamentals of Freelancing and Basics of Marketing Plans.
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