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King Khalid University today hosted the closing ceremony of the Business Accelerator and University Startups Program, held at the University City in Al-Fara’a in partnership with the Small and Medium Enterprises General Authority (Monsha’at), in the presence of the University President, Prof. Faleh bin Rajaa Allah Al-Solamy, along with a number of University leaders and individuals interested in the entrepreneurship ecosystem.
During his speech at the ceremony, the President of King Khalid University, Prof. Faleh bin Rajaa Allah Al-Solamy, highlighted the attention and support provided by the wise leadership to the entrepreneurship ecosystem, the private sector, and investment. He also noted the attention and follow-up given to this sector by the Governor of the Asir Region, Chairman of the Asir Development Authority, and his Deputy, contributing to the achievement of development objectives and the enhancement of economic enablers in the region.
Al-Solamy explained that the Asir Region possesses exceptional economic potential and opportunities, particularly in sectors aligned with its competitive advantages, foremost among them tourism, hospitality, heritage, and culinary arts. He emphasized King Khalid University’s aspiration to contribute to achieving the objectives of the business accelerator ecosystem across the Kingdom, supporting promising ventures, and strengthening the innovation and entrepreneurship environment.
Al-Solamy noted that the University is working to consolidate its position as an enabling environment for launching startups and to provide a competitive ecosystem that contributes to transforming entrepreneurial ideas and projects into companies capable of growth and competition, in line with the development objectives of the region and the Kingdom.
For his part, the Director of the Entrepreneurship Center at King Khalid University, Dr. Majed Al-Othaiman, explained that the idea of establishing an investment fund to support promising university startups originated from the Entrepreneurship Center, with the aim of completing the journey of startups from incubation and acceleration to investment and growth.
He noted that establishing the fund represents a significant advancement in King Khalid University’s entrepreneurship ecosystem, following the completion of its institutional stages and its approval by the Council of Universities Affairs, thereby enhancing opportunities for promising university startups to grow and compete at both the local and global levels.
The ceremony celebrated 20 university startups participating in the six-month program, which included 34 hours of training and 230 hours of consulting, with the aim of developing the companies’ capabilities and enabling them to advance to more developed stages in their entrepreneurial journey.
The program’s results reflected positive indicators, with participating companies achieving 97% growth in customers, 198% growth in revenues, and 169% growth in employment, in addition to 44 deals and investment rounds totaling approximately SAR 9 million.
These results reflect the ability of university startups to grow, attract investment, and strengthen their contribution to the economic landscape, underscoring the importance of supporting the entrepreneurship ecosystem and enabling promising companies to access markets and achieve economic growth.
