Riyadh – Sharikat Mubasher: Minister of Industry and Mineral Resources Bandar Alkhorayef announced the launch of the 1K Mile Program’s 4th round, an initiative under the National Industrial Development and Logistics Program (NIDLP), as part of the closing ceremony of its third edition at “The Garage” in Riyadh.
The event was attended by Saleh Al-Jasser, Transport Minister, Communications Minister Abdullah Alswaha, and Yousef Al-Benyan, Education Minister, alongside entrepreneurs and program partners.
Alkhorayef said the program has grown from a support initiative into a key pillar of Saudi Arabia’s industrial and entrepreneurial transformation, enabling young innovators to build viable projects and compete in advanced manufacturing and technology.
He emphasized that the program has redefined industrial investment by opening opportunities beyond large enterprises to ambitious entrepreneurs.
The third edition drew 8,001 participants, with 147 projects shortlisted for alignment with Vision 2030. Twenty projects across the industrial, mining, and logistics sectors received awards, with top winners securing SAR 500,000. Benefits for participants include financing, industrial land, factory space, and advisory support to scale their ventures.