Seed fund is a non-repayable micro-funding channel for eligible incubated startups at StartUp Lab. Startups from Wa’ed approved incubators are also eligible to apply for seed fund provided they meet the eligibility requirements. Seed fund may be granted to approved startups and up to SAR 100,000.
Seed fund is paid directly to vendors or service providers with the objective of supporting the venture to develop a prototype or execute a soft-launch. This fund is to be used as a concept validation mechanism that is offered to exceptional and strictly innovation-driven ventures. Full-time ventures must be incubated for a period of time before consideration for this program, and they must show significant progress during the incubation period. Interested entrepreneurs must be able to demonstrate strong use of the funding, backed by a short-term time-sensitive action plan, approved by the Wa’ed’s Seed Fund Committee.