<a style="color: #ff0000;" href="https://ntdp.gov.The National Information Technology Development Program (NTDP) yesterday launched the LendTech initiative, as part of the program's initiatives that aim to achieve its vision to develop and advance the technical sector in the Kingdom, as part of its keenness to develop, assist and finance promising technical companies by supporting them and empowering them financially and practically.
The LendTech initiative provides financing to the most promising technical companies by supporting and empowering them financially and practically.
The initiative provides financing that suits the nature and needs of technology companies, as it was established to overcome the obstacles and challenges facing technology companies by supporting them with a total capital of up to 360 million riyals, through financing solutions and easy procedures with a grace period of up to three months.
The initiative aims to support and empower promising technology companies by supporting and empowering them financially and practically. <The initiative aims to support micro, small and medium-sized technology companies, targeting the access of technology companies to the capital required to grow their businesses. The initiative also bridges the funding gap for tech startups by providing them with access to appropriate capital that facilitates their launch, supports business expansion, and enhances their chances of sustainability, thereby increasing their contribution to the development of the tech sector.
The initiative is designed to finance micro, small and medium-sized tech companies. The initiative is designed to finance and empower startups with a customized value for each company according to its size, where the upper limit for medium tech companies is SAR 8.5 million, small tech companies SAR 2.5 million, and micro companies SAR 900,000.
These initiatives come as a confirmation of the importance of the initiative. These initiatives come as a confirmation of the program's keenness to empower and enhance the opportunities of startups by providing all means of support from services, programs and incentives in an effort to enhance the Kingdom's position as a regional technology hub and a global center in 2030.
This is part of the program's efforts to enhance the Kingdom's position as a regional technology hub and a global center in 2030. <This comes as Riyadh hosts the first edition of RiseUp Saudi Arabia, which continues until November 21 at the King Abdullah Financial Center, with the participation of more than 150 startups, 150 investors and 200 speakers from around the world. The summit is supported by the National Information Technology Development Program of the Ministry of Communications and Information Technology, in strategic partnership with the Saudi Federation for Cybersecurity, Programming and Drones, and includes some of the sectors specialized in entrepreneurship in Saudi Arabia.
