News
NEOM Launches Accelerator To Support Saudi Entrepreneurs
The program will support small to medium enterprises and innovative businesses.
A new accelerator program called Seven Senses has been launched by the social responsibility department of NEOM, Saudi Arabia’s hyper-futuristic city development.
The program will support SMEs, as well as craftsmen and other professionals, with the aim of driving innovation and change in the NEOM and Tabuk regions.
نسعى لنترك أثرًا ونغيّر واقعًا ونبني مستقبلًا بجهودٍ مشتركة ومواهب شابة وأفكارٍ لا حدود لها، لنلهم بها غيرنا ونضع بصمتنا في يوم #المسؤولية_الاجتماعية #نلتزم_بمسؤوليتنا_الاجتماعية #نغير_الحاضر pic.twitter.com/EoOXPIDy9m
— المسؤولية الاجتماعية في نيوم (@NEOM_CSR) March 23, 2023
The accelerator program is welcoming applications until May 14. Although the Seven Senses program is open to anyone, officials are keen to encourage media, arts and culture, food, clothing, and new media projects.
The program will begin with a two-day entrepreneurial boot camp on May 28, where 150 entrepreneurs will receive training in business building, marketing, and attracting investors. After that, participants will present their ideas to an expert panel to compete for a place in the accelerator, held between late May and August.
Also Read: How To Create An Effective GPS Tracking Solution In The Middle East
“The idea of the NEOM accelerator program Seven Senses, which was designed after extensive studies of the market reality, came to support entrepreneurs and owners of emerging companies in the regions of NEOM and Tabuk through scientific and practical paths that contribute to developing their capabilities,” says Meshari Al Mutairi, Executive Director of Government Affairs at NEOM.
After completing the program, participants will enjoy priority access to entrepreneurial opportunities in the NEOM area, as well as lucrative investment opportunities.
News
Lebanon Ministers Meet Visa Over National Digital Payment Platform
Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.
Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.
The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.
The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.
Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.
Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.
Also Read: Deezer Says AI Tracks Now Make Up 44% Of Uploads
Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.
“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.
Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.
