Launch of the Saudi Media Business Accelerator in Partnership with China to Foster Innovation and Entrepreneurship
Under the patronage of the Minister of Media, Mr. Salman bin Youssef Al-Dosari, the Saudi Ministry of Media, represented by the Saudi Media Academy, today announced the launch of the Media Business Accelerator. This initiative is in collaboration with eWTP Arabia Capital, the Saudi Cloud Computing Company – Alibaba Cloud, and the Fujian Youth Federation. The accelerator was launched during the Saudi-Chinese Media Entrepreneurs Forum, organized on the sidelines of the visit of the Secretary of the Fujian Provincial Party Committee and Chairman of the Standing Committee of the Fujian Provincial People’s Congress to the Kingdom.
Goals of the Media Business Accelerator
The Media Business Accelerator aims to support entrepreneurs in the media sector by providing resources, guidance, and the exchange of expertise between the two countries. Dr. Abdullah bin Ahmed Al-Moghloth, Assistant Minister of Media, stated in his speech on behalf of the Minister of Media, “The Kingdom of Saudi Arabia, under the leadership and support of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness the Crown Prince – may God preserve them – is working on formulating the largest vision for the future in the 21st century, in which media plays a fundamental role. Therefore, we are proud to continue enhancing and developing industries related to the media sector in an era where technology has become a global language, a primary characteristic of humanity everywhere, and an essential tool for reading the keys to the future.”
Saudi-Chinese Cooperation in the Media Sector
Dr. Al-Moghloth pointed out that Saudi Arabia and China enjoy a rich history, solid culture, and profound civilization. From this standpoint, the rapid technological challenges impose a new reality that must be kept up with through an integrated system. He highlighted the importance of this partnership in striving and cooperating to develop joint projects, exchange talents, and transfer knowledge.
Jerry Li, Managing Partner of eWTP Arabia Capital, which supported the event and brought 25 young Chinese entrepreneurs from Fujian, said, “As investors in both countries, we affirm that the Chinese government strongly supports bilateral cooperation with the Kingdom of Saudi Arabia, especially in the technology and media sectors.” He pointed out that Fujian is one of the most important provinces in China, with strong economic and trade ties with the Kingdom and a long history of cultural and media innovation.
Jerry Li confirmed that eWTP Arabia Capital has established its presence in the Kingdom over the past six years, aligning with the Chinese Belt and Road Initiative and Saudi Vision 2030. The company will continue to support and enhance further cooperation and exchanges between the two sides in the future.
Enhancing Innovation and Growth in the Media Sector
The Media Business Accelerator focuses on promoting innovation and growth in the media sector, providing startups and entrepreneurs with the guidance, environment, and resources necessary to expand and develop their businesses, aiming to become a hub for innovation in media technology.
Media Business Accelerator Program
The program extends from 3 to 4 months, targeting a group of 8 to 12 early-stage startups with high growth potential in areas such as: artificial intelligence in media, digital content creation and distribution, media analytics and data science, interactive media and games, and media platforms.
The program goes through several phases, including mentoring and pairing startups with experienced industry mentors, workshops and training providing educational courses on various business and technical topics, pitch days, and networking to facilitate connections with industry leaders, potential partners, and customers.
The Media Business Accelerator seeks, through combining the strengths of the Kingdom of Saudi Arabia and the People’s Republic of China, to become a global leader in promoting innovation and entrepreneurship in the media sector, enabling entrepreneurs to shape the future of media, empowering startups to achieve their full potential, and contributing to the growth of media technology industries, thus enhancing the media economy and supporting the localization of the media industry in the Kingdom.
