Record number of applications received for Visa’s She’s Next Grant Program in Saudi Arabia

• The number of applications in Saudi Arabia increased fivefold from 2022.
• The application deadline is June 23, 2023.
• Local women business owners are invited to apply for a grant worth USD50,000, a tailored training program and access to She’s Next Club.
• SheTrades and Amazon Web Services to offer free training and consultation to all participants.

Riyadh, Kingdom of Saudi Arabia, 20 June 2023: Visa, the world's leader in digital payments, is calling women-owned businesses in Saudi Arabia to apply to the ‘She’s Next’ Grant Program, launched in partnership with Saudi Arabia Ministry of Communications and Information Technology (MCIT), Monsha’at, and ANB Bank. The program offers women entrepreneurs the opportunity to apply for a grant worth USD50,000, access to a tailored training program, and membership in the exclusive She's Next Club, providing valuable networking and mentoring opportunities.

To further support women in business, Visa also teamed up with SheTrades, a global initiative of the International Trade Centre (joint agency of the United Nations and World Trade Organization). Additionally, Amazon Web Services (AWS) Connected Community has also joined the program, offering free membership to all She’s Next applicants. Through AWS Connected Community, participants can access on-demand content and trainings, schedule free 1:1 consultation, and redeem discounts on software, Amazon Payment Services and AWS free credits.

With the application deadline approaching on June 23, 2023, the total number of Saudi-based applications received so far for the grant program has increased fivefold compared to last year. This year, Visa received 705 applications across the GCC region, a fivefold increase compared to last year.

Ali Bailoun, Visa’s Regional General Manager for KSA, Bahrain and Oman, expressed his delight at the high number of applications received and said, "We are thrilled to see such a tremendous response from women entrepreneurs in Saudi. The diversity of industries represented, the tangible solutions they are providing to real-world problems, and the significant number of applications showcasing a strong commitment to sustainability have truly stood out this year. It highlights the immense talent and potential within our community and underscores the unwavering determination of women to succeed in their businesses."

As part of the She's Next initiative, Visa has also unveiled the Women SMB Digitalization Index for Saudi Arabia, which sheds light on the challenges and progress of women-owned businesses in the digital landscape. According to the Index, 40% of women entrepreneurs consider self-confidence as crucial. Additionally, 30% of these entrepreneurs believe that having strong leadership skills to inspire and motivate others is highly desired, along with maintaining a positive mindset (21%).

Women entrepreneurs in Saudi Arabia are encouraged to seize this opportunity and apply for the Visa She's Next Grant Program. To learn more and apply for Visa She's Next Grant Program, applicants must submit a short application form with details about their business and digital presence.