Saudi Arabia SME Support And Funding - Wamda.com

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Saudi Arabia SME Support And Funding - Wamda.com

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Saudi Arabia

SME support

and Funding

A list of organizations that support and fund

small and medium enterprises in the Kingdom

of Saudi Arabia


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SME support and Funding

SME Support

Organizations

Global Competitiveness Forum

With a mission to formally raise awareness and

enthusiasm around competitiveness challenges,

the Global Competitiveness Forum is an annual

meeting in Riyadh, attended by business leaders,

international political leaders, and selected

intellectuals that share a common interest in global

competitiveness. The Forum was founded in 2006

by the Saudi Arabian General Investment Authority

(SAGIA).

Saudi Entrepreneurship Development Institute

The institute is an initiative of Sobhi Batterjee, the

President and CEO of the Saudi German Hospital

Group Kingdom of Saudi Arabia, to facilitate

young potential Saudis to develop their business

abilities while keeping with Saudi traditions.

Its goal is also to help young Saudis start new

ventures and to become job providers rather than

job seekers. Established in 2002, the institute is a

result of a technical support agreement between

Sobhi Batterjee and the United Nations Industrial

Development Organization (UNIDO).

The Saudi Fast Growth 100

The Saudi Fast Growth 100 is a national program to

promote entrepreneurship and innovation in Saudi

Arabia that ranks the fastest-growing emerging

companies in the Kingdom. The list was created by

the Saudi Arabian General Investment Authority’s

(SAGIA) National Competitiveness Center with

joint founding partners Al-Watan newspaper

and AllWorld Network. Joining the initiative as

Strategic Partners are the National Commercial

Bank, Sukoon International, and Siraj Capital.

The Saudi Fast Growth 100 aims to support fast

growing Saudi companies that represent the future

of the Kingdom.

www.gcf.org.sa

www.sedi.org.sa

www.allworldlive.com/

saudi-arabia-100


SME support and Funding

Incubators

Women’s Incubator and Training Center

The Women’s Incubator and Training Center

(WITC) was set up by the International

Organization for Knowledge Economy and

Enterprise Development (IKED) in partnership

with its partners in the Institute of International

Education consortium (IEE). The WITC is

a business incubator supporting women’s

entrepreneurship in Saudi Arabia, providing

supporting services and capacity development to

Saudi Women.

www.iked.org


SME support and Funding

Venture Capital

and Private

Equity Firms

The Saudi Arabian General Investment Authority

(SAGIA)

The Saudi Arabian General Investment Authority

(SAGIA) is a Saudi venture capital bank, working

in partnership with a Bahrain-based Islamic

investment bank as well as Global Emerging

Markets (GEM), an international investment house.

The three organizations have made a cooperative

effort to establish an independent US$100 million

venture capital investment company to invest in

venture capital opportunities and SMEs in Saudi

Arabia.

www.sagia.gov.sa


SME support and Funding

SME Banks

The Al-Ahli Program for Free Tradesmen

The Al-Ahli Program for Free Tradesmen offers

Sharia-compliant loans of up to SAR1.0 million

repayable over three years to small businesses and

professionals.

Bab Rizk Jameel Center

Bab Rizk Jameel Center (Gateway to Prosperity)

was established by Mohammed Abdulatif Jameel

in Jeddah. It offers financial support for start-ups,

as well as microfinance and loans for vocational

training.

The Centennial Fund

Established by a Royal Decree, the Centennial Fund

is primarily interested in supporting youth projects

through guidance, funding and facilitation to funds.

It aims to help young Saudis achieve economic

independence and to fight unemployment in the

Kingdom.

www.babrizqjameel.com

www.tcf.org.sa

National Commercial Bank

Largely owned by the Saudi Public Investment

Fund, the National Commercial Bank is one of

Saudi Arabia’s largest banks. It also offers small

businesses and self-employed professionals a

Sharia-compliant financing scheme.

The Saudi Credit Bank (SCB)

The Saudi Credit Bank (SCB) is mainly focused on

giving social loans to Saudis with low income. SCB

created a new program for SMEs and provides

loans in specific sectors with a limit reaching up to

US$53,000. SCB’s capital total is SAR 959 million.

www.mof.gov.sa/en/docs/

ests/sub_tsleef.htm


Saudi Industrial Development Fund

Working under the supervision of the Ministry

of Finance, the Saudi Industrial Development

Fund (SIDF) established a special fund for SMEs

with a credit guarantee scheme. With a capital of

US$53 million, funded by the Saudi government

and by local Saudi banks, SIDF supports SME

development through provision of financial

assistance in form of short-term loans to industrial

investment along with technical, administrative,

financial and marketing advices to borrower

enterprises.

www.sidf.gov.sa

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