The Saudi Ministry of Media, through the Saudi Media Academy, launched a new media business accelerator on Saturday, partnering with eWTP Arabia Capital, Saudi Cloud Computing Company (Alibaba Cloud), and the Fujian Youth Federation. This initiative, under the patronage of Minister of Media Salman Al-Dosary, was unveiled during the Saudi-Chinese Media Entrepreneurs Forum, coinciding with the visit of the Secretary of the Party Committee of Fujian Province to the Kingdom.
The accelerator program is designed to support entrepreneurs in the media sector by providing essential resources, mentorship, and fostering an exchange of expertise between Saudi Arabia and China. Assistant Minister of Media Dr. Abdullah Al-Maghloth, speaking on behalf of Minister Al-Dosary, emphasized the crucial role of media in Saudi Arabia’s future vision, stating, “The Kingdom of Saudi Arabia, led by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, is shaping the largest vision for the future in the 21st century, where media plays a fundamental role.”
Dr. Al-Maghloth highlighted the importance of continuing to enhance media-related industries in an era dominated by technology, which he described as an “international language” and a “necessary tool for understanding the future.” He also noted the deep-rooted cultural ties between Saudi Arabia and China and the need for a comprehensive approach to keep pace with rapid technological advancements.
Jerry Li, Managing Partner of eWTP Arabia Capital, supported the event and brought 25 young Chinese entrepreneurs from Fujian. Li affirmed the Chinese government’s strong support for bilateral cooperation with Saudi Arabia, especially in the technology and media sectors. He noted Fujian’s significant economic and trade ties with Saudi Arabia and its history of cultural and media innovation. Li also mentioned eWTP Arabia Capital’s established presence in Saudi Arabia over the past six years, confirming the company’s ongoing commitment to enhancing cooperation between the two nations.
The media business accelerator aims to foster innovation and growth in the media sector, providing startups and entrepreneurs with mentorship, an enabling environment, and necessary resources to expand and develop their businesses. The program aspires to become a global leader in promoting innovation and entrepreneurship, helping startups achieve their full potential and contribute to the growth of media technology industries, thereby strengthening media economies and supporting the localization of the media industry in the Kingdom.
Running for three to four months, the accelerator will support eight to twelve early-stage startups with high growth potential in areas such as AI in media, digital content creation and distribution, media analytics and data science, interactive media and gaming, and media platforms. The program includes several phases: mentoring, pairing startups with experienced industry mentors; workshops and training offering courses on various business and technical topics; pitch days; and networking to facilitate connections with industry leaders, potential partners, and customers.
By leveraging the strengths of both Saudi Arabia and China, the accelerator aims to shape the future of media, providing a platform for entrepreneurs to innovate and grow in the media technology sector.
