Saudi fintech startups are set to benefit from a 12-week development course and a possible SR500,000 ($133,280) grant, thanks to Saudi Aramco’s entrepreneurship arm, Wa’ed.

The organisation has partnered with financial development program initiative Fintech Saudi to kick off the program for a dozen startups, which will start at the end of February.

The event, which will take place both in Riyadh and virtually, will see the qualified startups take part in a series of workshops and training seminars.

To qualify, the startups are required to have a viable product, a tech-experienced founder, and at least one dedicated full time team member.

Three startups will then be selected to join Wa’ed’s incubation program, as well as receiving the grant.

Regulator meetings with the program’s team will be available to aid participating startups after the course of the program.

The launch is also in collaboration with venture capital firm, Flat6labs.

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