The Center of Digital Entrepreneurship, abbreviated as "CODE," is an initiative established by the Ministry of Communications and Information Technology with the aim of creating an enabling environment for ambitious startups in entrepreneurship.
Objectives
The Center of Digital Entrepreneurship aims to increase women's participation in the digital entrepreneurship sector, develop local digital capabilities in the field of digital entrepreneurship, promote digital entrepreneurship culture, and enhance the adoption of emerging technologies. Additionally, it seeks to increase the contribution of the digital economy to the gross domestic product, localize technology, create new job opportunities, and direct investment opportunities in this field in line with the goals of the national transformation program and the realization of Saudi Vision 2030.
Enablers
The enablers that the Center of Digital Entrepreneurship works on include community outreach, access to skills, access to investment, access to technology and support, access to the market, and access to data and systems.
Plans
The Center of Digital Entrepreneurship provides thousands of developmental opportunities for digital entrepreneurs and tech startups, aiming to facilitate their projects and ensure the sustainability of their businesses. It offers financial support, guidance, and mentorship, along with incubation programs, innovation labs, incentives for entrepreneurs, monthly reports, and CODE-UP meetings.
The center offers training and qualification programs, aiming to establish accelerators and incubators for businesses, organize training camps, and launch digital competitions. This contributes to equipping Saudi youth with future tools, thereby driving the wheel of digital entrepreneurship and building a robust digital economy.
MVPLab Initiative
The National Information Technology Development Program launched the MVPLab initiative in 2022 to support and empower innovators in technology projects to develop their ventures, accelerate growth, and launch their technological business models. This initiative aims to empower digital entrepreneurship and provide all programs and initiatives that contribute to building an advanced knowledge-based society; achieving Saudi Vision 2030.
This initiative is the result of a strategic partnership between the National Information Technology Development Program, the "Garage", the Center of Digital Entrepreneurship "CODE", "NAMA Ventures", "BUNAT Ventures", "Rawahel by Raz" and "SEEDRA Ventures".
The initiative aims to launch one thousand initial Minimum Viable Product (MVP) models with the goal of transforming them into tech startups by providing funding, knowledge, and guidance support to beneficiaries. This includes offering financial incentives and benefits totaling up to SAR200 million over three years.
This partnership aims to empower individuals to develop their projects by facilitating access to venture capital funds and a network of technical and knowledge-based services, thereby enhancing the quality and preparation of startups in the Kingdom.
The program targets early-stage tech entrepreneurs in both the prototyping and commercialization stages, where each cohort of participants will be incubated for up to six months. They will receive technical and knowledge-based services, funding support, as well as training and guidance sessions aimed at significantly accelerating the growth of their projects to launch one thousand initial MVP business models.
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