{"id":27670,"date":"2021-09-07T18:08:01","date_gmt":"2021-09-07T15:08:01","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=27670"},"modified":"2026-03-27T23:11:00","modified_gmt":"2026-03-27T20:11:00","slug":"waed-sets-aside-10-2-million-sar-to-support-saudi-based-entrepreneurs-as-road-show-debuts-in-jubail","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/waed-sets-aside-10-2-million-sar-to-support-saudi-based-entrepreneurs-as-road-show-debuts-in-jubail\/","title":{"rendered":"Wa\u2019ed sets aside 10.2 million SAR to support Saudi-based entrepreneurs as road show debuts in Jubail"},"content":{"rendered":"\n

September 7, 2021<\/strong> \u2013 Wa\u2019ed has recommended a combined 10.2 million SAR in seed grants and loans to six Saudi entrepreneurs as the entrepreneurship arm of Aramco began a six-city national roadshow in Jubail to fund the best new start-ups.<\/p>\n\n\n\n

The 2021 Wa\u2019ed Entrepreneurship Roadshow recommended loans be issued to Ahmad Alkhowaiter, the first Saudi producer of a ubiquitous oil and gas drilling compound; Motlaq Almotairy, founder of Saudi\u2019s first radioisotopes firm; and Abdullah Al Otaibi, the founder of a company that converts used cooking oils into biofuels. <\/p>\n\n\n\n

Wa\u2019ad also recommended incubation seed funding grants to Nawaf Alabra, founder of a new-generation B2B platform; Ahmed Abdulmohsen, founder of a business software maker that manages infrastructure, buildings, and lighting; and Muhannad Alhamed, founder of a smart home automation solutions maker based on IoT technology.<\/p>\n\n\n\n

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The recommendations were made before a socially distanced gathering of 50 entrepreneurs, investors, and officials at the Al Fanateer Conference Center in Jubail.<\/p>\n\n\n\n

Wa\u2019ed roadshows will also be held this year in Yanbu, Jeddah, Riyadh, Madinah, and Makkah. Wa\u2019ed is selecting Saudi-based entrepreneurs for loans, incubation services, and venture capital investment. The roadshows are being hosted by Mohammed Almousa, a Saudi entrepreneur and broadcast presenter for MBC television.<\/p>\n\n\n\n

\u201cThe start-ups we recognize tonight in Jubail are part of a new wave of Saudi-based entrepreneurs who are driving economic growth and diversification in the Kingdom,\u201d said Fahad Alidi, the Wa\u2019ed Managing Director. <\/p>\n\n\n\n

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Created as a wholly-owned venture of Aramco in 2011, Wa\u2019ed has helped drive growth of the Kingdom\u2019s entrepreneurial ecosystem by deploying more than 400 million SAR in VC investment, loans, and incubation services into more than 100 Saudi-based start-ups.\u00a0<\/p>\n\n\n\n

The Jubail roadshow highlighted industrial manufacturing and services and drew entrepreneurs from a range of fields. The event was sponsored by The Royal Commission for Jubail & Yanbu, which oversees the Kingdom\u2019s largest industrial zones. <\/p>\n\n\n\n

Future roadshows will focus on drones, security technology, reverse engineering, petrochemicals, environmental tech, fintech, supply chains, tourism, and hospitality, among other sectors.<\/p>\n\n\n\n

\u201cThe Royal Commission welcomes the Wa\u2019ed Entrepreneurship Roadshow to Jubail, one of the Kingdom\u2019s most important industrial hubs,\u201d said Mohammed Alzahrani, General Manager for Investment at the Royal Commission for Jubail & Yanbu. \u201cThe entrepreneurs recognized today are the catalysts of our tomorrow.\u201d<\/p>\n\n\n\n