Industrial Development Center

Center Objectives

• To assist Saudi youth in establishing their own businesses.
• To create new and sustainable job opportunities in the market.
• To help transform entrepreneurial project ideas into tangible products.
• To assist in securing financial support and connecting with supporting entities.
• To create a suitable environment for startups.
• To support small and medium-sized enterprises (SMEs) and provide technical assistance tailored to the type of project incubated at the center.
• To connect emerging businesses or small projects with industrial and commercial sectors locally and potentially in advanced industrial countries.
• Center Services
• Business planning and feasibility studies.
• Providing offices and other physical facilities for clients.
• Assistance in developing marketing and communication strategies.
• Assistance in developing financing strategies and long-term business plans.
• Accounting and management services.
• Secretarial services, internet, mail, telephone, and fax services.
• Other logistical services upon request.
• Approved Tracks for the Industrial Development Center
• Startup Projects Track: Targets small and micro-enterprises in professional and craft sectors to create job opportunities for applicants, provided that the investment cost of the submitted project does not exceed 300,000 riyals.
• Excellence Track: This track targets industrial and service sectors that meet the highest number of financing priorities outlined in Article 7, Paragraph 2 of the Small and Emerging Projects Financing Regulations, with a total cost exceeding 300,000 riyals but not exceeding eight million riyals.
• Invention Track: This track targets inventors who hold a patent, provided that market research demonstrates a need for the invention and its compatibility with the bank's Small and Emerging Projects Financing Regulations.