The Small and Medium Enterprises Development Authority (Riyada) signed a cooperation programme with OQ, the global integrated energy group, to empower SMEs and enhance aspects that contribute to doing business.
It was signed by Halima al Zaria, Chairperson, Riyada, and Ashraf al Maamari, Acting CEO of OQ Group. The signing of the programme came within the framework of the strategic partnership with the aim of contributing to the development of this sector, and supporting possible efforts for entrepreneurship and self- employment.
The programme aims to benefit from the experiences and expertise of both parties to contribute to supporting and developing SMEs, and raise the efficiency and competitiveness of enterprises to obtain business opportunities and exchange experiences and consultations in talent management.
The programme will enhance SMEs to benefit from the tenders offered by OQ, as the agreement aims to raise the level of knowledge among entrepreneurs about the requirements of tenders and how to submit tenders that meet the required conditions through organising workshops.
Given the importance required in developing the capabilities of entrepreneurs and suppliers, there will be development of programmes for them to join the group’s supplier programme, follow up and evaluate their performance while keeping pace with trends regarding empowering emerging companies.
Moreover, it was directed to study and research opportunities to implement a business accelerator programme for emerging companies in the energy sector and related fields, and to study the possibility of the group supporting it and sponsoring student companies and youth initiatives in the fields of innovation, artificial intelligence and business accelerators.
In this regard, OQ launched an accelerator programme for emerging companies in the energy sector. The programme aims to develop between 10 to 20 startup companies in the oil, petrochemical and alternative energy industries for a period of six months. Given the importance of qualifying employees working in company management and providing them with the necessary skills.
This programme came within the efforts of Riyada and a continuation of the cooperation between the authority and government and private agencies, with the aim of developing a set of capabilities to improve the business environment for entrepreneurs to launch their projects and ensure their sustainability.
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