About the Roadshow
The Wa’ed Entrepreneurship Roadshow is a high-profile, national search for the best and brightest entrepreneurs and start-ups in the Kingdom. All across Jubail and Yanbu, Riyadh, Jeddah, Medinah and Makkah, the entrepreneurship arm of Aramco will showcase cutting-edge business ideas competing for venture capital funding of up to SAR 19 million and loans of up to SAR 5 million. With partners such as the Royal Commission for Jubail & Yanbu, the Small and Medium Enterprises General Authority (Monsha’at), the King Abdullah University of Science and Technology, Nama Almunawarah and Wadi Makkah, Wa’ed will select a new generation of entrepreneurs whose game-changing ideas open economic horizons, create opportunities for all Saudis and fill gaps in the Kingdom.
Host Cities and Themes
Themes: Industrial Manufacturing - Industrial Support
Partner: Royal Commission for Jubail and Yanbu
Partner: Royal Commission for Jubail and Yanbu.
Themes: Deep Tech - Environment
Themes: E-commerce - Healthtech - Cyber Security
Themes: Tourism and Hospitality - Supply Chain
Partner: Nama Al-Munawarah
Themes: Tech Startups
Partner: Wadi Makkah
Up to SAR million Loan Finance
Up to SAR million VC investment
SAR K - SAR K - SAR K
All applicants automatically become members of the IES Society
Terms & Conditions
- Does not work for Saudi Aramco or any of its subsidiaries.
- Applicant should be a Saudi National.
- Applicant should be at least 18 years of age and not older than 65 years of age.
- Startup: a company set up by an entrepreneur(s) to invest in a repeatable and scalable business model.
- SME: an established company with a track record by an existing entrepreneur(s) under the SME definition of Saudi Arabia. Current or prospective business entities and operations must be based and registered in Saudi Arabia.
- Startups that promote economic development and enhance the venture ecosystem in Saudi Arabia.
- Startups that are, or plan to be, Kingdom-based and have a strong localization plan that incorporates various factors such as strategic importance or impact to Saudi, commercial focus and intent to localize, physical and legal presence in Saudi, licensing and permits, extent of core operations and value chain activities in Saudi, headquarters and c-suite management residing in Kingdom, intended use of funds, affiliation with local institutions, investors, projects or joint ventures, and financial, economic, or other meaningful ties to the Kingdom.
- Startup has previously (i) raised an investment of at least USD 100,000 from investors or (ii) generated revenue of at least USD 100,000 since inception.
- Innovative projects.
- Products or services that are first to be produced locally.
- Product services that replace imports.
- Highest in quality job creation.
- Projects in developing regions.
- Innovative and impactful.
- Disruptive and differentiated.
- Tech or tech-enabled, and software/IP-intensive.
- High growth and rapid scalability.
- Addressing a persuasive customer pain-point in a large and growing with minimal competition.
- Credible team, business model, unit economics, traction, terms, profitability potential, risks, and exit prospects.
- For-Profit: venture must be for-profit with a scalable business model.
- Technical: venture must be technical in nature.
- Concept/Seed-Stage: venture must be in an MVP (minimum valuable product) stage.
- Micro-Size: venture must have no more than 3-4 employees.
- Market Need: entrepreneur must be able to demonstrate strong market need.
The Wa’ed Entrepreneurship Roadshow will take place across six cities from June to December 2021 in Jubail and Yanbu, Riyadh, Jeddah, Medinah and Mekkah. For the dates, please refer to the timeline.
Entrepreneurs must submit a valid business proposal to apply for loan financing, venture capital, and incubation and training services at Wa’ed. Only the most innovative proposals meeting the criteria set by Wa’ed and our partners will receive support from Wa’ed. please refer to the applications terms and conditions.
Yes, Wa’ed is planning to offer online support seminars on various aspects of the application process, such as formulating business plans and making pitches to investors. A detailed schedule of applicant seminars will be made available soon.
To qualify for a loan from Wa’ed, you must be a Saudi citizen. Venture capital investments are limited to Saudi-based start-ups who are Kingdom based and have a strong localization plan.
Yes, you can. There is no limit on the number of applications that one person can make.
Wa’ed looks to finance start-ups whose unique solutions and products either fill existing gaps in the Saudi economy or offer a local alternative to an imported product.
You will need to have received at least one dose of a Saudi government recognized COVID vaccine or have a negative PCR test result 72 hours before the start of the event. COVID regulations are subject to change. Please check this website regularly for up-to-date information.
Applications to the Wa’ed Entrepreneurship Roadshow are not event specific. Each application will be evaluated, and if shortlisted, directed to the event most relevant to its sector.