The General Entertainment Authority (GEA) has approved14 projects to participate in the first edition of the Entertainment Business Accelerator, which aims to provide a stimulating work environment for entrepreneurs interested in the entertainment sector in the Kingdom, provide them with the necessary guidance and training, and connect them with experts and consultants specialized in project development and a network of investors.
The approval process of the 14 projects began with the opening of registration for various projects last February. In the first stage, the registration of 260 projects was approved, of which 60 projects were qualified for the initial interviews. After the initial interviews, 22 projects were nominated for presentation to the jury. The process concluded with the approval of 14 projects in the Entertainment Business Accelerator.
Those in charge of the participating projects go through an intensive training program consisting of weekly workshops, individual consulting sessions between entrepreneurs and specialized consultants, and sessions for those interested in the entertainment sector to learn about the participating projects. Moreover, many speakers and owners of successful experiences will be hosted and daily activities for entrepreneurs and developers from the accelerator team will be organized.
The training program involves following up on the performance of the participants, supporting them in developing their projects and helping them expand and grow, while preparing them for advanced investment rounds through weekly meetings with mentors who guide them and provide them with advice that contributes to the progress and success of their business.
Participants in the accelerator program also receive support from project mentors to develop their businesses. Mentors will provide participants with continuous guidance and mentorship training programs, put them in touch with appropriate consultants, and follow up on companies’ interactions with customers to understand their needs and develop their products according to market requirements.
Participants go through various stages to measure performance. Mentors will set weekly goals for projects and business. This is accompanied by following up on the development and progress of the projects and their achievement of the agreed-upon performance indicators while measuring the achievements since the start of the accelerator.
