Alsulaiman Foundation has launched the Franchise Accelerator in partnership with the General Authority for Small and Medium Enterprises (Monsha’at), the Social Development Bank, and Salem Bin Mahfouz Foundation. The accelerator is one of the key initiatives aimed at empowering entrepreneurs in the franchise sector.
The launch event was held at Monsha’at headquarters, attended by H.E. Dr. Ghassan bin Ahmad Alsulaiman, Chairman of Alsulaiman Foundation; Sami bin Ibrahim Al-Hussaini, Governor of Monsha’at; Eng. Sultan bin Abdulaziz Al-Humaidi, CEO of the Social Development Bank, along with several officials, business leaders, and entrepreneurs interested in franchising.
H.E. Dr. Ghassan bin Ahmad Alsulaiman, Chairman of Alsulaiman Foundation, stated in his speech that the accelerator is part of the foundation’s efforts in economic empowerment, one of the main pillars in supporting individuals, enabling them to launch their own businesses and achieve financial independence. He highlighted that the initiative provides a comprehensive model that includes training, mentorship, and funding, ultimately leading to franchise ownership for beneficiaries, contributing to financial sustainability and the success of emerging businesses.
He also expressed his gratitude to the foundation’s partners who contributed to the success of this initiative, especially Salem Bin Mahfouz Foundation, for its active role in supporting and empowering entrepreneurs. He emphasized that this collaboration reflects a shared commitment to driving sustainable development and expanding promising economic opportunities.
Sami bin Ibrahim Al-Hussaini, Governor of Monsha’at, stated that the accelerator represents a valuable addition to the franchise sector in Saudi Arabia, as it provides a supportive environment for entrepreneurs through specialized qualification programs and easier access to funding and franchising entities, helping achieve Vision 2030’s objectives in supporting and developing entrepreneurship.
Eng. Sultan bin Abdulaziz Al-Humaidi, CEO of the Social Development Bank, emphasized that this initiative reaffirms the bank’s pivotal role in enabling entrepreneurs who seek franchise rights for leading brands, encouraging them to take advantage of the available support. He explained that franchising is one of the most effective pathways for the growth of small and medium enterprises (SMEs) and job creation, aligning with Vision 2030’s goals. He also noted that the Social Development Bank takes pride in inspiring success stories and pioneering experiences of Saudi brands that have developed innovative franchise models.
The Franchise Accelerator offers a comprehensive program that aims to prepare and qualify entrepreneurs through an integrated approach that includes intensive training, mentorship, facilitated financing, and gradual franchise ownership over two years. The initiative allows participants to join specialized training programs, work under franchisors, and transition to full franchise ownership.
This initiative serves as a key solution to support the franchise sector by enabling entrepreneurs to undertake a structured and well-planned business journey that reduces risks and enhances success opportunities. It also fosters an interactive ecosystem that connects entrepreneurs, franchisors, and financial institutions, helping to drive innovation and competitiveness within the Saudi franchise market.
