Helping young people to boost the digital economy in Saudi Arabia
STC runs InspireU, an accelerator and incubator programme that helps young people launch businesses that have an innovative digital or ICT focus. Working with partner organisations, InspireU provides support in areas such as strategy, ecosystem and investment and offers seed funding, mentorship and office space.
The selection process for InspireU is thorough, with application forms, panel interviews and a two-day bootcamp for the top 20 teams. Once selected, the startups are invited to attend a six-month programme in Saudi Arabia, where they receive a customised curriculum delivered through a unique combination of classroom sessions and one-on-one coaching to ensure that they have a business plan and strategy that can withstand the scrutiny of professional investors.
Since its launch in December 2015, InspireU has graduated four batches of startups, including a health screening solution and a peer-to-peer learning platform, and are currently incubating the fifth batch with 10 startups. By incubating startups in this way, STC aims to encourage entrepreneurialism and provide job opportunities. STC is proud to support youth entrepreneurs who create and build business startups, recognising that they can add a lot of value to Saudi Arabia’s economy and its Vision 2030.
