STC Back up Innovation, Enhance the Digital Economy Drive, via Inspire U Program, across the Kingdom

In a continuing support to entrepreneurship, and to enable innovators, stc announced that its investments received by entrepreneurs, amid the Inspire U program have reached a ceiling of more than SR500 million, as part of its efforts to support and develop the entrepreneurship system, in the Kingdom, with the aim of contributing to supporting innovation and enhancing the digital economy, in the technical fields.

That was unfolded, during stc celebration of the graduation of the 7th and 8th batches of the Inspire U program, which included a presentation as many as 20 projects and a review of their most prominent achievements, under the motto: “To go further” in the current year. Chairman of the stc, the CEO of stc, and several distinguished notables and dignitaries.

Inspire U program is supporting entrepreneurs and creative youth and their start-up projects in the field of digital transformation, as it is part of stc’s strategy in this field, stc Group CEO Eng. Olayan Al Wetaid emphasized, pointing out that this year is witnessing doubling the number of projects incubated by the program, as well as 2-batches’ graduation, for the 1st time in the same year, adding that the program has been able, since its launch in 2015, to support 75 start-up projects, in various fields, which contributed to reaching a volume of financial transactions worth more than SR10 One billion, as more than 40 million users have benefited from Inspire U’s pioneering projects, providing more than 600,000 collaborative jobs, within projects, in place.

The Inspire U program is considered among the most significant business accelerators in the Kingdom, as the promising projects incubated by the program have turned into pioneering companies, that, in turn, contribute to the digital economy.

Silicon Valley-based interests, are taking part in several areas related to the program, and has interviewed many entrepreneurs and mentors.

The program also provides office spaces for entrepreneurs, promote their projects, and put at their avail the opportunity to be present and participate, in many events, including workshops, national and international exhibitions, and help projects to access the best investors and investment funds, in the market, through its strategy of work within the framework of social responsibility and sustainable development.

Thus, stc focuses on activating the advantages offered by the Inspire U program, via providing specialized training programs to develop and accelerate the plans of the start-ups to enter the markets and benefit from best practices and successful experiences, in order to support entrepreneurship represented in small and medium sized enterprises and facilitate financing opportunities. Providing administrative and technical support, as well as assistance to develop the capabilities of these enterprises.