The Small and Medium Enterprises General Authority (Monsha'at) celebrated the graduation of 20 university startups from its business accelerator at King Khalid University in Abha, in the presence of University President Faleh Al-Solami and entrepreneurship specialists.

The graduation forms part of the University Startup Accelerator Program, a Human Capabilities Development Program initiative, which graduated 60 university startups this year across King Khalid University, the University of Business and Technology, and Princess Nourah bint Abdulrahman University.

Over six months, participating startups recorded customer growth exceeding 97%, revenue increases over 198%, and employment growth above 196%, while pitching investment rounds valued at nearly 9 million riyals ($2.4 million) across 44 deals and contracts.

Monsha'at said its services for participants included workshops, advisory sessions, and specialized consultations, alongside access to funding solutions and investors, with startups presenting products across healthtech, artificial intelligence, agritech, tourism, and education.

Monsha'at said its university entrepreneurship programs have supported 300 university startups in partnership with universities across Saudi Arabia, fostering startup growth and sustainability.