The Ministry of SMEs and Startups and the Embassy of the Republic of Korea in the Kingdom of Saudi Arabia announced they will begin recruiting participating companies for the Middle East Market Entry Support Program for SMEs and Startups starting Monday, July 7, through cooperation with the Saudi government.
The support program will recruit companies in four sectors: AI, bio & health, tourism & entertainment, and smart city & construction. A total of 27 companies will be selected. Eligibility requirements specify that only startups founded within the past 10 years may apply for the AI sector, while SMEs of any age may apply for the other three sectors.
The Ministry of SMEs and Startups and the Korean Embassy in Saudi Arabia plan to complete applications and submissions by July 24, conduct a document review by the end of July, and hold in-person evaluations in August with participation from Saudi experts to select the final participating companies. The selected companies will visit Saudi Arabia at the end of September to pursue market entry, secure business contracts, and attract investment. During the visit, they will engage in activities such as meetings and interviews with local government agencies, investment promotion briefings, and networking events.
Saudi government ministries and agencies are currently showing strong interest and high expectations for cooperation with Korean SMEs and startups. In particular, HUMAIN, the Saudi agency overseeing AI, has expressed a strong willingness to collaborate, indicating plans to provide up to
