Last year, the program for the development of human potential has reached concrete achievements to increase the competitiveness of Saudi Arabia in the labor market in local and throughout the world, and worked on strategic partnerships for the development of national technical capabilities through training and innovative national partnerships with the best international universities in order to increase their readiness for the development of technical solutions and accelerate the growth of companies -contractes companies.
He contributed to an increase in the percentage of those who registered on the local labor market from graduates of higher education within 6 months after the release of 44.43 percent compared to the 13th base line in 2016, and an increase in the percentage of working youth aged 15 to 24 years 36.2 percent compared to the base line by 18 percent in 2020.
After the launch of the program for the development of the human potential, the Prince Prime Minister Prince Muhammad Bin Bin Bin Abdulaziz in 2021, the program is working to ensure the readiness of citizens at all stages of life, investing in national talents and competencies and ensuring the production and needs of the labor market.
Technical and vocational education
According to the recent report published by the human potential development program for 2024, the percentage of those who are registered in the labor market is graduates of technical and vocational education within 6 months after release up to 47.81 percent, and the launch of 6 new strategic academies in this area.
In order to ensure the coordination between the results of education and the needs of the future labor market in the local and worldwide, 4 local technical colleges were managed, which were studied by more than 2,600 trainees and interns, as well as concentrated on specializations related to tourism and hotel, in addition to the work of 5 international academies in technical colleges that studied more than 150 thousand and more than 200 international academic academies.
According to the report, last year, the indicator of enrollment in technical and vocational education increased to 30.54 percent, surpassing the purpose and updating of training equipment for more than 130 technical colleges in accordance with international technical specifications to improve the quality of the training environment, in addition to the development of electronic platforms to expand access to these capabilities.
Entrepreneurial companies
The program reveals the expansion of the rights and capabilities of 40 innovative companies through advanced training in partnership with Stanford and Berkeley universities for 4 weeks in the field of executive leadership, leadership and technology, as well as accelerating the work of 40 companies, connecting their founders with entrepreneurial and investment systems in the silicone valley, through 220 consultants with seconds with seconds.
The cost of companies supported in the fat investment sector reached 42 million Riyals ($ 11.2 million), since they managed to create 120 new jobs in IT and allows 40 founders of a developing company to join leading international business incubators.
In 2024, Saudi entrepreneurial companies recorded progress in global innovative indicators using the advantages of strategic support, which included high -quality training and investment programs, and this expansion of rights and opportunities contributed to the development of innovative businesses and expanding their volume in competitive world markets, as this contributed to the provision of more than 40 startups with the help of training with international institutions.
Silicone Valley
The year was a witness to accelerating the business of companies in the framework of the investment system in the Silicon Valley, organizing 29 events in the field of leadership and investment, as well as the creation of 4 investment days with the participation of local and international investors.
The program ensured the support and expansion of 120 startups of universities, the development of entrepreneurial skills for more than 11 thousand male and female students in universities, as well as the creation of 60 companies through business accelerators in various regions of the kingdom, as well as startups at the growth stage of 3 business -nuclear engines held at three universities throughout the country.
