Latest news with #NamaAccelerators
Entrepreneur
24-05-2025
- Business
- Entrepreneur
Supporting Local Handicrafts: Saudi Cultural Development Fund Launches Nama' Accelerators in Partnership with the Saudi Ministry of Culture and Quality of Life Program
Nama' Accelerators comprises multiple sector-specific tracks to be introduced by the Fund in the near future. The accelerators launch with its first track, Handicrafts, as part of the Fund's broader efforts to amplify the economic, social, and creative impact of the 2025 Year of Handicrafts, and to enable sector stakeholders to enhance and expand their cultural projects and businesses. The Fund has launched a dedicated webpage for full accelerators details HERE The Handicrafts Track targets micro, small, and medium-sized businesses (MSMEs) across 11 key handicrafts fields, including pottery, textiles, and woodworking. Participants will benefit from specialized training in modern craft techniques, intensive workshops in marketing and business development, and improved access to both local and global markets. The accelerators conclude with targeted, financial incentives aimed at supporting long-term business growth and sustainability. Through its first track, Nama' Accelerators aims to transform Saudi Arabia's vibrant handicraft heritage into sustainable economic businesses that that empower communities, spark innovation in the sector, and embrace the Kingdom's national identity. The accelerators also designed to amplify the sector's economic and social impact by supporting the growth of ambitious, high-potential startups with innovative ideas. In doing so, it contributes to building a vibrant Saudi entrepreneurial ecosystem that encourages creativity and enables long-term, meaningful growth. Nama' Accelerators marks a significant step forward in the Cultural Development Fund's mission to become the Financial Center of Excellence for the cultural sector. It reinforces the Fund's role as a key financial enabler for cultural entrepreneurs and businesses by enabling their sustainable and profitable growth. The accelerators also consolidate the Fund's efforts with key stakeholders in the cultural ecosystem, enabling it to continue its path toward achieving the goals of the National Culture Strategy, under the umbrella of Saudi Vision 2030. For more information about Nama' Accelerators and the Handicrafts Track, click HERE
Arab News
23-05-2025
- Business
- Arab News
Saudi fund unveils handicraft investment accelerators
RIYADH: Nama' Accelerators, a pioneering initiative to foster the growth of cultural enterprises, has been launched by the Saudi Cultural Development Fund in partnership with the Ministry of Culture and the Quality of Life Program. The project, featuring a comprehensive training and development program, will include several sector-specific tracks. The first of these is the flagship handicrafts track, with the aim of amplifying the economic, social and creative impact of the 2025 — Year of Handicrafts initiative. It targets micro, small and medium-sized enterprises seeking to expand across 11 diverse fields within the sector, including pottery, textiles and woodworking. Benefits on offer include specialized training in modern craft techniques, intensive workshops on marketing and business management, and improved market access both locally and internationally. It also provides financial incentives to support sustainable growth and expansion. Through this inaugural track, Nama' Accelerators intends to transform the Kingdom's rich artisanal heritage into sustainable economic ventures that foster community development, encourage innovation within the handicraft industries and enrich the national identity. The Cultural Development Fund seeks to advance the handicrafts sector by maximizing its economic and social impact, fostering innovation across its diverse fields, and cultivating an entrepreneurial ecosystem that nurtures creativity and growth. Nama' Accelerators represents a strategic milestone in the fund's ambition to position itself as the financial center of excellence for the cultural sector. As a key financial enabler for entrepreneurs and enterprises, it fuels the sustainable and profitable growth of their ventures. The initiative also strengthens the fund's collaboration with key players across the cultural ecosystem, supporting its continued progress toward fulfilling the objectives of the National Culture Strategy within Saudi Arabia's Vision 2030 framework. Khalid Al-Baker, CEO of the Quality of Life Program, told Arab News: 'Promoting and sustaining national culture hinges on transforming the cultural sector into an economically productive industry. This transformation involves expanding cultural offerings — including cultural days, events, and activities — and streamlining the permit issuance process for cultural projects.' He added that, as part of the Quality of Life Program's efforts to fulfill Vision 2030's objectives: 'We have implemented programs targeting these key pathways, including the launch of Nama' Accelerators.' Nama' Accelerators will actively elevate the role of handicrafts in society, transforming them from museum artifacts into a vibrant, economically sustainable sector. The initiative promotes creativity and innovation while safeguarding a living cultural heritage for current and future generations, Al-Baker said.
