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SABB continues to support startups

December 2019

 

As part of its ongoing contribution to the development of the startup sector and entrepreneurs, the Saudi British Bank (SABB) has contributed to supporting the activities and events of the Saudi Startup Forum recently organized by Monsha’at in Dhahran.

During the opening ceremony, the Deputy Governor of the Eastern Province, Dr. Khalid Al Battal, honored SABB as the “Supporting Sponsor” in the presence of H.E. Deputy Minister of Trade and Investment Majed Al Bawardi and Governor of the General Authority for SMEs Eng. Saleh Al-Rasheed. The award recognizes the Bank's role in developing the national economy by encouraging startups and entrepreneurs.

“Startups are an important part of the national economy, and therefore the success and growth of these companies is a key factor for the growth and development of the Kingdom's economy in general, and provide more job opportunities for citizens. Hence the National Vision 2030 focuses on supporting the startup sector and entrepreneurs” Said Dr. Khalid Al-Battal, Deputy Governor of the Eastern Province Emirate. He also praised SABB's role in the success of this forum, which is an important platform for the launch of many startups and entrepreneurs.

This comes as part of SABB’s interest in continuing to build an effective partnership with government institutions as a contribution towards achieving the aspirations of the Kingdom's Vision 2030, stepping up the pace of progress and development, finding solutions to achieve sustainable development, and strive to stimulate the economy and the development of business sectors with potential, as one of the important drivers of the national vision.

It should be noted that SABB focuses on supporting startups. In addition to its corporate banking and trade facilities, SABB is committed to supporting startups through its community-based initiatives, and continues to provide support through the “TAQADAM” startup accelerator, which aims to help young entrepreneurs take their first steps in business. TAQADAM has contributed to establish 78 startups since 2016. SABB has also joined the C3 Accelerator Program to enable Saudi startups to benefit from the program.