Saudi Gazette report

RIYADH — NEOM in cooperation with the Misk Academy, part of the Prince Mohammed bin Salman bin Abdul Aziz Foundation (Misk) has launched a business skills program, according to a Saudi Press Agency report.

The program called “SPARK” aims to support and encourage entrepreneurs who want to develop their ideas for starting businesses, through providing them with needed skills and experience.

The program provides intensive training and vocational guidance for trainees over a period of six weeks. Over the course, participants will go through different stages designed with highest necessary standards for the success of projects including learning how to build a successful business strategy and the means of presenting projects professionally to attract investors.

The program aims to increase the number of small and medium enterprises that contribute to improving and diversifying production sources in line with Saudi Vision 2030 to raise the percentage of contributing enterprises to the gross domestic product (GDP) and accelerate the economic transformation.

The cooperation between the two sides comes to launch a set of educational and development initiatives and programs, which will contribute to achieving investment in the human capital and supporting the non-oil sector, in addition to increasing the number of projects in various regions of the Kingdom of Saudi Arabia.

SPARK that is approved by Global Entrepreneurship Network will enable the participants to identify the difficulties they face in projects, as they will work with experts to find right solutions, build their own brands and define the appropriate investment structure to ensure the success of their businesses.

They will also have the opportunity to present their projects to the arbitration committee consisting of representatives from "NEOM", Misk Academy and Small and Medium Enterprises General Authority (Monshaat).

The participants will receive the bronze certificate of the "Spark" program, and the ten best candidate projects will be able to present their projects to the arbitration committee and will receive the silver certificate of Spark Program, while the five best presentations will receive Gold Spark certificate, in addition to receiving financial rewards and media coverage to help them promote their projects.

"Spark" is an online program developed and presented by business professionals and entrepreneurs.