Startup Farid from Egypt broadens presence in Saudi Arabia through a $1.2 million partnership, aiming to educate and impact 4,000 individuals.
Egyptian ed-tech startup Farid has made its first regional move beyond Egypt, announcing a SAR4.5 million (US$1.2 million) partnership with the Amad Association for Human Capacity Development in Saudi Arabia.
Founded by Mahmoud Hussein in 2024, Farid is expanding its horizons with the establishment of a central operations office in Riyadh. This strategic partnership is part of Farid's expansion strategy ahead of a forthcoming seed round.
The agreement includes the rollout of over 48 training programs and workshops, aiming to train 4,000 children and adults in Saudi Arabia. The programs emphasize character building, critical thinking, innovation, and entrepreneurship.
Hussein described the partnership as a "transformational milestone" in Farid's journey. The initiative will deliver specialised educational programs to more than 4,000 children and adolescents, with families benefiting from additional discounts of up to 25 per cent on official program fees.
The choice of Saudi Arabia reflects the country's growing investment in human capital and its emphasis on youth empowerment as a cornerstone of Vision 2030. The partnership aligns with the goals of Saudi Arabia's Vision 2030, which aims to create a vibrant society, a thriving economy, and an ambitious nation.
Furthermore, the initiative will train and certify 500 Saudi university graduates for careers in coaching and development. A comprehensive framework will be created to measure educational and social impact, aligning with Farid's long-term vision, dubbed "Farid 2030", which aims to certify 10,000 trainers and empower 10 million children and youth across the Arab world.
In September 2022, Farid raised US$250,000 in pre-seed funding from Saudi businesswoman Amal bint Abdulaziz Al-Ajlan. The startup also provides one-on-one sessions for character-building and mental health support for Arab children aged between three and 18.
This partnership is a significant step for Farid as it embarks on its regional expansion, marking a promising future for the ed-tech startup and its mission to empower the next generation of Arab youth.
Read also:
- Executive from significant German automobile corporation advocates for a truthful assessment of transition toward electric vehicles
- Crisis in a neighboring nation: immediate cheese withdrawal at Rewe & Co, resulting in two fatalities.
- Financial Aid Initiatives for Ukraine Through ERA Loans
- Diagnosing Male Fertility Issues: A Guide to Understanding Male Fertility Evaluations
