Riyadh: The Ministry of Culture, in partnership with the Ministry of Investment and the Quality of Life Program, one of the Saudi Vision 2030 realization programs, and in cooperation with the Cultural Development Fund, has launched a package of financial enablers aimed at empowering startups in the cultural sector. This initiative is designed to maximize the cultural sector's contribution to the national economy and enhance community quality of life by boosting GDP and generating diverse employment opportunities.
According to Saudi Press Agency, the announcement came during the Cultural Investment Conference, organized by the Ministry of Culture in Riyadh. The conference serves as a leading global platform to unlock cultural investment opportunities, highlight the Kingdom's ambitious cultural plans, showcase prospects in emerging markets worldwide, and foster global partnerships while opening new financing channels.
The initiative features a set of financial tools provided by the Cultural Development Fund to cultural enterprises across several sub-sectors. These tools will include a range of services to support business growth and expansion, enhance entrepreneurial capabilities, and strengthen the cultural startup ecosystem. The goal is to stimulate the growth of cultural enterprises, amplify their creative output, and increase their contribution to GDP while creating job opportunities for local talent across various cultural and artistic fields.
This initiative reflects the collaborative efforts of the Ministry of Culture, the Ministry of Investment, the Quality of Life Program, and the Cultural Development Fund to advance Saudi contributions to culture and arts, while reinforcing the cultural sector's economic and social impact in line with the goals of the National Culture Strategy under Saudi Vision 2030.