Al-Sulaiman Foundation launched the franchise accelerator, in partnership with the General Authority for Small and Medium Enterprises (Monsha'at), the Social Development Bank, Salem Bin Mahfouz National Foundation, and Arabian Castles Company, during a ceremony held at Monsha'at's headquarters in Riyadh, in the presence of His Excellency Dr. Ghassan bin Ahmed Al-Sulaiman, Chairman of the Board of Directors of the Foundation, His Excellency Mr. Sami bin Ibrahim Al-Husseini, Governor of Monsha'at, His Excellency Eng. Sultan bin Abdulaziz Al-Humaidi, CEO of the Social Development Bank, and a number of officials, entrepreneurs and those interested in the franchise sector.
In his speech during the ceremony, Dr. Ghassan Al-Sulaiman stressed that the launch of the accelerator comes within the Foundation's efforts to promote economic empowerment, as it is one of the main pillars of Al-Sulaiman Foundation's mission to support individuals and enable them to achieve financial independence through the launch of their own projects.
His Excellency also expressed his thanks to the success partners, especially Salem bin Mahfouz Foundation, for their role in supporting and empowering entrepreneurs, stressing that this cooperation embodies the integration between the third sector, government, and financing agencies to achieve sustainable development and promote promising economic opportunities.
The Governor of Monsha'at, Mr. Sami Al-Husseini, explained that the accelerator represents a qualitative addition to the franchise sector in the Kingdom, as it provides a supportive environment for entrepreneurs through specialized programs and facilitates access to donors and funding bodies, which contributes to achieving the goals of Saudi Vision 2030 in the development of the entrepreneurship sector.
Eng. Sultan Al-Humaidi, CEO of the Social Development Bank, stressed that this initiative reflects the bank's pivotal role in empowering entrepreneurs aiming to obtain franchise rights, indicating that franchising is one of the most important paths to promote the growth of small and medium enterprises and create diverse job opportunities in line with the national vision.
The franchise accelerator offers a two-year integrated program that includes intensive training, career mentorship, concessional financing, and project management to full ownership, enabling entrepreneurs to experience a thoughtful entrepreneurial experience that reduces risk and enhances their chances of success.
The franchise accelerator offers a two-year integrated program that includes intensive training, career mentorship, concessional financing, and project management to full ownership, enabling entrepreneurs to experience a thoughtful entrepreneurial experience that reduces risk and enhances their chances of success.
