More than 42,000 Beneficiaries of the Innovation Center Services at Monsha'at

More than 42,000 people have benefited from the services of the Innovation Center affiliated with the Small and Medium Enterprises General Authority since its launch, including 5,500 beneficiaries last year, according to figures released by "Monsha'at" coinciding with Innovation Week events being held this week. As part of its ongoing support for entrepreneurs and innovative projects, "Monsha'at" continues to empower emerging technologies through the Innovation Center, which is one of the key national initiatives aimed at enhancing the innovation environment and stimulating the knowledge economy in the Kingdom. The Small and Medium Enterprises General Authority has enabled over 400 startups through various incubation and support phases at the Innovation Center, achieving a direct financial impact exceeding 362 million riyals for beneficiaries. The projects supported by the center have contributed to the creation of more than 1,312 jobs, reflecting the center's role in generating employment opportunities and promoting economic development. The Innovation Center offers an integrated package of technical solutions and entrepreneurial programs, which have so far included 6,900 advisory sessions, 512 cases of adopting emerging technologies, as well as the development of more than 200 prototypes and technical products, and the implementation of over 500 programs and events in the fields of innovation and entrepreneurship. The center targets emerging technologies, including artificial intelligence, data science, the Internet of Things, cybersecurity, 3D printing, user experience development, and technical applications and systems. It works to enable companies to turn their ideas into commercially viable products and enhance their readiness to enter the markets.

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