Monsha’at Launches Real Estate Innovation Accelerator to Support Startups
The Small and Medium Enterprises General Authority, “Monsha’at,” has announced the launch of the Real Estate Innovation Accelerator in collaboration with the Ministry of Municipalities and Housing. This was announced at a press conference held on Sunday, with the presence of Abdulrahman Altawil, Deputy Minister for Real Estate Development, and Saud AlSabhan, Deputy Governor of “Monsha’at” for the Entrepreneurship Sector.
The Real Estate Innovation Accelerator aims to support startups that seek to provide innovative solutions to meet the needs of the real estate sector in the Kingdom. The accelerator will commence its activities on July 28 and will run for 12 weeks, offering intensive technical and strategic support to 12 selected startups out of 600 applicants. These startups will provide solutions across various aspects of the real estate sector, from digitizing property search processes to developing new financial solutions.
The accelerator seeks to stimulate the growth of startups in the real estate sector and accelerate the development of innovative products and services to address the challenges faced by the sector. It also aims to attract investments and enhance the Kingdom’s position as a regional hub for real estate innovation. This initiative is part of a series of initiatives launched by “Monsha’at” in partnership with government and private entities to support entrepreneurship and create a stimulating environment for innovation across various sectors. The initiative is expected to contribute to a significant transformation in the Saudi real estate sector and enhance its contribution to achieving the objectives of the Kingdom’s Vision 2030.
The Small and Medium Enterprises General Authority, “Monsha’at,” plays a pivotal role in supporting entrepreneurship in the Kingdom through a wide range of initiatives and programs. The authority has contributed to increasing the number of small and medium enterprises, creating new job opportunities, and supporting the growth of promising economic sectors. It has also worked on providing necessary funding for entrepreneurs and offering the necessary consultancy and training to develop their skills and capabilities.
