Tuesday, 02 January 2024 12:17 GMT

TikTok and Blossom Launch Second Cohort of SME Empowerment Program to Support AI-Driven Startups in Saudi Arabia


(MENAFN- PAZ Marketing Management) TikTok and Blossom announced the launch of the second cohort of the TikTok & Blossom SME Empowerment Program, an initiative designed to support and scale high-potential startups leveraging artificial intelligence in Saudi Arabia. Building on the strong momentum of its inaugural cohort, the program introduces an enhanced focus on AI innovation to help entrepreneurs build scalable, investment-ready companies aligned with the Kingdom’s innovation and digital transformation priorities.

The TikTok x Blossom SME Empowerment Program combines hands-on execution, expert mentorship, funding support, and deep ecosystem access into a structured growth journey tailored for ambitious entrepreneurs. Participants of the program may receive up to $60,000 in grants, empowering them to develop their startups and implement innovative solutions in the market.

Proven Impact from the First Cohort

The first cohort supported 14 startups through specialized mentorship and training, generating
$840,000 in revenue growth and enabling founders to secure more than $14 million in funding. The second cohort introduces a more focused structure aligned with rapid advancements in artificial intelligence.

Program Structure and Focus

The second cohort will commence with a dedicated AI hackathon designed to identify promising teams and innovative solutions. While the hackathon and accelerator operate as independent tracks with their own unique benefits, interested founders can already join the waitlist for the subsequent three-month accelerator program to secure their interest ahead of the formal intake.

Dr. Hatem Samman, Executive Director of Government Relations and Public Policy at TikTok in Saudi Arabia, said: “TikTok believes in the vital role that startups and SMEs play in driving innovation and economic growth. Through our partnership with Blossom, we aim to empower the next generation of entrepreneurs in the Kingdom to leverage artificial intelligence to build innovative, scalable companies and contribute to the continued development of Saudi Arabia’s entrepreneurship ecosystem in line with Vision 2030.”

Emon Shakoor, CEO of Blossom Accelerator, added: “Saudi Arabia is entering a new era of innovation where artificial intelligence will play a defining role in shaping the next generation of companies. Through the TikTok x Blossom SME Empowerment Program, we are focused on equipping founders with the tools, mentorship, and ecosystem access they need to build scalable AI-driven businesses that can compete regionally and globally. Our goal is not only to support startups but to strengthen the broader innovation ecosystem that will power the Kingdom’s future digital economy.”

Ecosystem Partnerships Supporting the Program

The program is supported by a number of strategic partners who contribute to expanding its reach and impact within the Kingdom’s entrepreneurial ecosystem. Among them are the General Authority for Small and Medium Enterprises “Monsha’at” and the Center of Digital Entrepreneurship (CODE) under the Ministry of Communications and Information Technology. These partners support efforts to empower founders, expand their access to innovation and investment ecosystems, and foster the sustainable growth of SMEs.

Monsha’at, the program’s strategic partner, emphasized the importance of supporting and empowering promising SMEs that focus on artificial intelligence as a transformative and impactful model for the future. This aligns with Saudi Vision 2030 objectives to strengthen their contribution to the national economy and build a prosperous, sustainable future.

The Center of Digital Entrepreneurship (CODE), under the Ministry of Communications and Information Technology and a supporting partner of the program, highlighted its role in accelerating digital innovation and empowering tech entrepreneurs. This is achieved through initiatives that enhance AI capabilities and develop digital skills, contributing to building a competitive digital economy and reinforcing the Kingdom’s position as a regional hub for technology and innovation.

With this growing focus on AI-driven innovation, the TikTok x Blossom SME Empowerment Program continues to establish itself as a key driver in shaping the next generation of startups.

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PAZ Marketing Management

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