Social Development Bank, Jahez Group back startups with SR10m fund
Saudi Arabia's Social Development Bank successfully concluded a training camp for the Jahez Social Responsibility Portfolio, which took place over five days at the Dulani Business Center in Riyadh.
The camp resulted in supporting 20 entrepreneurial projects with a total financing of SR10 million ($2.7 million) and a funding ceiling of SR500,000 per project, drawn from the overall SR30 million value of the Jahez Social Responsibility Portfolio.
SDB managed the portfolio by conducting feasibility studies, disbursing funds, and overseeing project progress to ensure their long-term sustainability. This integrated model is designed to empower entrepreneurs and foster a thriving startup ecosystem.
Throughout the camp, participants received extensive training in essential business skills, including economic feasibility studies and investment proposal presentations, equipping them with the knowledge and confidence needed to successfully enter the market.
The initiative is part of a strategic partnership with Jahez, to strengthen public-private sector collaboration, drive sustainable development, and empower entrepreneurs in the fast-growing logistics sector.
Sultan Al-Hamidi, CEO of SDB, said: 'The Jahez Social Responsibility Portfolio is not merely a financing tool but a comprehensive development framework aimed at fostering innovation and entrepreneurship among Saudi youth. Through our management of this portfolio, we are committed to creating a lasting economic impact, generating real opportunities for ambitious entrepreneurs. The Jahez camp was a bright beginning to a journey of contribution and accomplishments, where each supported project contributes to building a sustainable economy and a brighter future.'
Ghassab Al-Mandeel, CEO of Jahez Group, said: 'Our partnership with SDB embodies our dedication to empowering entrepreneurs by providing them with the necessary financial and operational support. This initiative aims to accelerate the growth of the logistics sector as a key driver of the national economy, while fostering innovation through pioneering projects aligned with Saudi Vision 2030. Each training phase within the camp has been a crucial step toward turning promising ideas into viable, sustainable businesses.'
SDB launched a pioneering social responsibility portfolio, offering a structured framework for companies to effectively contribute to community development and sustainable growth. Jahez was the first partner in this initiative, committing an initial SR30 million to the portfolio.
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