The Small and Medium Enterprises Finance Guarantee Program (Kafala) and the Business Incubators and Accelerators Company (BIAC), the government company owned by the Public Investment Fund (Taqnia), have signed a cooperation agreement aimed at facilitating the financing of technology startups incubated or graduated from the Badir program for technology incubators and accelerators, which is managed and operated by BIAC. (Project financing).<\/p>\n
The agreement aims at joint cooperation between the two parties to overcome the obstacles and challenges facing the SME sector in order to contribute to the advancement of this sector and increase its contribution to the national economy, in line with the Kingdom's Vision 2030. The agreement was signed by Hammam Hashim, Director General of the \u00abKafalah\u00bb program, and Nawaf Al-Sahaf, CEO of BIAC, at the program's headquarters in Riyadh in the presence of a number of senior executives from both sides.<\/p>\n
Under this agreement, Kafalah will provide the necessary guarantees to private sector financiers to support incubated or graduated Badir enterprises, which in turn seek financing to develop and expand their businesses, as the pre-financing guarantee documents serve as a guarantor to the financing entities, according to the products approved by the program.<\/p>\n
On this occasion, Hammam Hashim, General Manager of the Kafalah program, stressed that the signing of the agreement comes as part of the program's efforts to support the SME and startup sector, and is consistent with the series of agreements signed by the program with a number of banks, financing entities and partners from the public and private sectors to keep pace with the steady growth in the number of applications submitted for financing under the program's sponsorship.<\/p>\n
For his part, Nawaf Al-Sahaf, CEO of BIAC, said that the strategic partnership with Kafalah will contribute to providing the necessary funding for leading and promising SMEs, especially those incubated in business incubators and accelerators, which are operated and managed by BIAC, most notably the Bader program for technology incubators and accelerators, explaining that the number of incubated companies in the program reached about 655 technical projects since the establishment of the program until the end of the second quarter of this year.<\/p>\n
The Kafalah program specializes in facilitating the financing of economically viable SMEs that do not have the ability to provide the required guarantees to the financing authorities. The program helps the SME sector to obtain the necessary financing to develop and expand its activities, and encourages financial institutions to deal with this sector, to achieve its important role in the national economy through its contribution to creating new job opportunities and developing less economically active governorates.<\/p>\n
BIAC specializes in managing and operating a number of programs, incubators and accelerators, most notably the Badir program, with all its incubators and accelerators, which includes 8 incubators in 7 regions, the Saudi Innovation Center for Water Technologies program, the Innovation Fast Track program that embraces mutual knowledge, information and innovation between Saudi Arabia and the United States, and the Innovation Center program for the fourth industry in the Kingdom, in addition to operating and managing the Industrial Enterprises and Haramain Technology Accelerators.<\/p>\n
Cooperation between Riyadh Chamber and the UAE in spreading the culture of endowments<\/a><\/p>\n Editor-in-Chief Abdulaziz Al-Issa writes : How do you develop your real estate?<\/a><\/p>\n Prince of Aseer praises the efforts and cooperation of \u201cHousing\u201d in the \u201cResidential Exhibition\u201d in Abha 16 financing entities and real estate consultant at the exhibition<\/a><\/p>\n With the participation of 800 businessmen and women and financing entities, Sharqiya Business Youth Exhibition offers 300 investment initiatives<\/a><\/p>\n MoU between Al Ahli Bank and \u201dSocial Development\u201d to implement savings programs<\/a><\/p>\n Nayef Al Rajhi Investment Company announces a new real estate development project in London<\/a><\/p>\n Inaugurated yesterday by the Emir of Riyadh Aspar Forum\u00a0 <\/span>Dedicated to technology for a vibrant society, a thriving economy and an ambitious nation<\/a><\/p>\n Ministry of Justice carries out more than 32,000 electronic verifications of real estate deeds in 9 months<\/a><\/p>\n Housing: Extending the deadline for payment of fees and white land development leads to increased supply through incentives<\/a><\/p>\n Record-breaking Riyadh Season attracts more than 5 million visitors since its launch<\/a><\/p>\n Numerous achievements in housing projects under construction in Jeddah The Ministry handed over a number of housing units<\/a><\/p>\n Saudi Real Estate Company starts developing the facilities of Al Widyan project northwest of Riyadh<\/a><\/p>\n Ministry of Justice authorizes GCC nationals to dispose of land they own<\/a><\/p>\n Real estate prices fell by 2.7% in the third quarter<\/a><\/p>\n CMA approves Aramco's initial public offering<\/a><\/p>\n \u00abCapital Market Authority Approves the IPO of a portion of Aramco's shares\u00bb<\/a>\u00a0 <\/span><\/p>\n British firm designs Red Sea Project airport to accommodate 900 passengers per hour<\/a><\/p>\n The Real Estate Fund Call Center completes 63% of the total mortgage contracts for residential products<\/a><\/p>\n Taqeem implements the first training courses for the real estate appraisers qualification program in Makkah<\/a><\/p>\n Public Authority for State Properties organizes a workshop to develop a mechanism to provide government headquarters<\/a><\/p>\n Reading time: <\/span> 3<\/span> Minutes<\/span><\/span>\u0648\u0642\u0651\u064e\u0639 \u0628\u0631\u0646\u0627\u0645\u062c \u0643\u0641\u0627\u0644\u0629 \u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0645\u0646\u0634\u0622\u062a \u0627\u0644\u0635\u063a\u064a\u0631\u0629 \u0648\u0627\u0644\u0645\u062a\u0648\u0633\u0637\u0629 \u00ab\u0643\u0641\u0627\u0644\u0629\u00bb\u060c \u0648\u0634\u0631\u0643\u0629 \u062d\u0627\u0636\u0646\u0627\u062a \u0648\u0645\u0633\u0631\u0639\u0627\u062a \u0627\u0644\u0623\u0639\u0645\u0627\u0644 \u00ab\u0628\u064a\u0627\u0643\u00bb\u060c \u0627\u0644\u0634\u0631\u0643\u0629 \u0627\u0644\u062d\u0643\u0648\u0645\u064a\u0629 \u0627\u0644\u0645\u0645\u0644\u0648\u0643\u0629 \u0644\u0640 \u00ab\u062a\u0642\u0646\u064a\u0629\u00bb \u0627\u0644\u0645\u0645\u0644\u0648\u0643\u0629 \u0644\u0635\u0646\u062f\u0648\u0642 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a \u0627\u0644\u0639\u0627\u0645\u0629\u060c \u0627\u062a\u0641\u0627\u0642\u064a\u0629 \u062a\u0639\u0627\u0648\u0646 \u062a\u0647\u062f\u0641 \u0625\u0644\u0649 \u062a\u0633\u0647\u064a\u0644 \u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0634\u0631\u0643\u0627\u062a \u0627\u0644\u062a\u0642\u0646\u064a\u0629 \u0627\u0644\u0646\u0627\u0634\u0626\u0629 \u0627\u0644\u0645\u062d\u062a\u0636\u064e\u0646\u0629\u060c \u0623\u0648 \u0627\u0644\u0645\u062a\u062e\u0631\u062c\u0629 \u0644\u062f\u0649 \u0628\u0631\u0646\u0627\u0645\u062c \u00ab\u0628\u0627\u062f\u0631\u00bb \u0644\u062d\u0627\u0636\u0646\u0627\u062a \u0648\u0645\u0633\u0631\u0639\u0627\u062a \u0627\u0644\u062a\u0642\u0646\u064a\u0629\u060c \u0648\u0627\u0644\u0630\u064a \u062a\u062f\u064a\u0631\u0647 \u0648\u062a\u0634\u063a\u0644\u0647 \u00ab\u0628\u064a\u0627\u0643\u00bb. 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projects<\/h3>\n
Financing projects<\/h3>","protected":false},"excerpt":{"rendered":"