As part of its efforts to support entrepreneurship and in line with the priorities of the Economic Modernization Vision focusing on growth drivers—entrepreneurship and innovation—the King Abdullah II Fund for Development signed support agreements with 12 entrepreneurial projects under the “Ri’ada” (Entrepreneurship) program, paving the way for their implementation.
اضافة اعلان
Dr. Samer Al-Maflah, Director General of the Fund, signed the agreements with the project owners. The Fund will provide financial and technical support to these entrepreneurial projects across various governorates of the Kingdom. The program is one of the Fund’s key initiatives to support productive entrepreneurial projects locally, aiming to empower entrepreneurs to transform their ideas into sustainable projects capable of growth and generating real job opportunities with tangible economic and social impact, in line with the priorities of the Economic Modernization Vision.
The supported projects focus on three main sectors: three projects in environment, agriculture, and food; four projects in technology and the Fourth Industrial Revolution; and five projects in tourism and services. This reflects the diversity of the projects and strengthens integration between sectors.
The supported projects include a variety of initiatives. For example, in Karak governorate, a digital agricultural project was supported to establish a smart farm for export purposes; in Zarqa, an innovative project was funded to convert industrial carbon dioxide into solid organic fertilizer; and in Ajloun, a project will establish an adventure park to boost adventure tourism in the governorate.
As part of a comprehensive evaluation methodology, applications went through multiple assessment stages, including administrative screening, technical evaluation via the electronic submission system, and assessment by specialized external sectoral advisory committees. This process qualified 60 projects—20 projects per sector—for face-to-face interviews, alongside field visits to some existing projects, enhancing transparency, equal opportunity, and standardized evaluation criteria.
Upon completion of the program, it is expected that the supported projects will generate income for the beneficiaries, create suitable job opportunities for young entrepreneurs in the governorates, strengthen sector integration, support the national economy, and achieve tangible economic and social impact.
