Saudi Aramco’s entrepreneurship arm Wa’ed provides $2.04m grant to four start-ups – The National

Saudi Aramco’s entrepreneurship arm Wa’ed provides $2.04m grant to four start-ups – The National

Wa’ed, the entrepreneurship arm of state-owned oil company Saudi Aramco, said it awarded up to 7.65 million Saudi riyals ($2.04m) in new seed grants and venture funds to four Saudi start-ups.

The funding was announced during the final Wa’ed 2021 Entrepreneurship Roadshow stop in Makkah. With this, Wa’ed has now provided more than 43.6m riyals in financial aid to 28 Saudi entrepreneurs throughout the entire roadshow campaign.

“By supporting the most disruptive and tech-focused Saudi-based start-ups and opening applications to all qualified entrepreneurs, Wa’ed’s Entrepreneurship roadshow represented the ideal platform to show emerging innovations led by younger entrepreneurs,” Fahad Alidi, managing director at Wa’ed, said.