Riyadh - Sharikat Mubasher: Wadi Makkah Ventures, an investment company owned by Umm Al Qura University (UQU), launched Nomow 2024 Business Incubator to foster Saudi startups, the company announced in a statement.
The incubator aims to support startups working in various sectors, including Hajj and Umrah, occupational safety and health, education technology (edtech), and fintech.
The launching ceremony was attended by 25 entrepreneurs and owners of innovative projects.
Throughout five months, Nomow 2024 will provide training, consultation, seed funds, and shared workspace for participating startups in a competitive and integrative environment, in addition to qualifying them to address legal, administrative, or technical problems they might face.
The Nomow Business Incubator was designed to support the transformation of an idea into a minimum viable product (MVP). It focuses on helping startups to develop products, enhance their business operations, and attract investments.
Wadi Makkah Ventures targets diversifing its investments in local and international startups in their various stages through multiple programs, in alignment with Vision 2030 objectives.
