Saudi's General Entertainment Authority Celebrates 3rd Cohort of Entertainment Business Accelerator Grads
Saudi Arabia's General Entertainment Authority (GEA) recently celebrated the graduation of 17 companies from the third cohort of its Entertainment Business Accelerator. The program, a key initiative aligned with Saudi Vision 2030, aims to empower local entrepreneurs and significantly boost innovation within the Kingdom's rapidly expanding entertainment sector.
GEA Champions Entertainment Entrepreneurs
The graduation ceremony for the third cohort of the GEA's Entertainment Business Accelerator showcased the achievements of emerging companies in the Saudi entertainment landscape. A total of 17 startups and projects successfully completed the program, which is designed to foster innovation and facilitate the entry of new ventures into the market.
Intensive Support and Development
Participants in the accelerator received comprehensive support to hone their business acumen and refine their projects. This included:
117 mentoring sessions with experienced professionals.
100 hours of dedicated guidance sessions specifically for startups.
21 specialized workshops covering various aspects of business development.
Access to a network of 41 mentors and specialized experts.
Showcasing Innovation and Future Potential
The graduation event highlighted the accelerator's increasing role in empowering entrepreneurs within the entertainment sector. A key feature was live presentations of projects by the entrepreneurs to an audience of potential investors and supporting entities, providing a crucial platform for visibility and future collaboration. The GEA noted that this third cohort achieved qualitative and significant results.
Driving Vision 2030 Goals in Entertainment
The Entertainment Business Accelerator is a core component of GEA's strategy to develop the local entertainment industry. Its goals include:
Empowering entrepreneurs in the entertainment sector.
Supporting innovation and new ideas.
Facilitating the entry of emerging companies into the market.
Enhancing the skills and competencies of national talents.
Achieving the objectives of the Quality of Life program.
Meeting the aspirations of Saudi Vision 2030.
Leadership Acknowledges Success
Muhannad Al-Abbad, Vice President of Investment and Business Development at GEA, remarked on the program's success. He stated that this edition of the accelerator witnessed significant achievements, attributing this to the support of the Kingdom's leadership and the guidance of Minister Turki bin Abdul Mohsen Al-Sheikh (Chairman of GEA). Al-Abbad also emphasized GEA's continued commitment to supporting innovation through this accelerator and similar initiatives.
About the GEA Entertainment Business Accelerator
The Entertainment Business Accelerator by the General Entertainment Authority is designed to identify and nurture promising ideas and startups in Saudi Arabia's entertainment sector. It provides participants with training, mentorship, resources, and networking opportunities to help them launch and scale their businesses effectively.
Looking Ahead
The GEA's Entertainment Business Accelerator is focused on building a new generation of entrepreneurs capable of making significant contributions to the development of Saudi Arabia's entertainment industry. With continued support for innovation and a commitment to enhancing national talent, the program is set to play an ongoing vital role in the sector's dynamic growth.
Source: Saudi Press Agency (SPA)