Yumnak Program

Introduction:

Long journeys always start with small steps...but there is always a starting point.

Savola Group started its quest in the Kingdom of Saudi Arabia in 1979, as a small company for importing and purifying vegetable oils and then selling them in the local market.

Since then, Savola has pursued a path towards expansion and eventually became the leading strategic investment holding Group in the food and retail sectors across the region.

Savola Group is keen to utilize its capabilities and experience through Savola World Foundation, which seeks to support ambitious Small and Medium Enterprises (SMEs) who deserve the opportunity to grow and flourish in the food and retail sectors through expert guidance. Before that, the Group adopted and managed its activities, initiatives and programs in the field of CSR through a specialized department within the Group/HQ.

The SMEs sector is a vital player in advancing the economy, as a segment that represents the backbone for growth and job creation in a thriving economy.

The Kingdom of Saudi Arabia’s Vision 2030 aims to increase the participation of SMEs in the Gross Domestic Product (GDP), by raising the level of GDP contribution from 20% to 35% by 2030. The Kingdom seeks to achieve this goal by supporting entrepreneurship and privatization programs in addition to supporting investment opportunities in new industries.

In line with this vision, Savola World Foundation selected Business Assistance as one of the focus areas approved by the foundation’s Board of Trustees, with the objective of promoting economic growth and enabling SMEs to grow and prosper by achieving profitability and sustainability.

Yumnak Program:

“Yumnak”, which is Arabic for “Your Right Hand” is Savola World’s Business Development Program, aiming to offer a helping hand and support to SMEs working in the following sectors: FMCG, F&B, Agritech, Food Security & Sustainability, Retail, Logistics, Fintech, and Supporting Technologies to the FMCG and Food Industries.

“Yumnak” is an intensive, practical hands-on program which provides a set of technical tools to enable companies to achieve their desired expansion scale.

Selected participants will benefit from this program through sharing their business plans and products with well-grounded experts in the sector, with the aim of obtaining either partnerships or investments.

What distinguishes “Yumnak” from other programs is its focus on developing established companies and increasing their sales or obtaining investments. This is achieved by providing support, direction and guidance to selected companies, which will benefit from the opportunity to meet with a group of experts specialized in the administrative, strategic, planning, financial, marketing, and technical fields to increase growth opportunities and attract investments.

Program Stages:

1. Program awareness through a wide spread media campaign
2. Receiving applications from qualified companies
3. Filtering and selection
4. Lectures and workshops with experts in fields
5. Designing bespoke development, support, and guidance plans for each company
6. Implement the plan for escalation, acceleration, and follow-up
7. Rating and review
8. Presenting sales pitches to potential business partners and industry players
9. Presenting to investment pitches to potential investors in the final demo day
10. Completion of successful partnerships/investment agreements and drafting of contracts

Terms for Registering in the Program:

• The applicant company must be a Saudi Company
• At least one of the founders must participate actively in the program
• Availability of a Commercial Register
• Having a sales record of at least one million Saudi Riyals
• Having a sales record of at least one year
• Priority is given to companies operating in the FMCG, F&B, Agritech, Food Security & Sustainability, Retail, Logistics, Fintech, and Supporting Technologies to the FMCG and Food Industries, or those serving companies operating in these sectors
• Priority given to companies with innovative business models and/or product offering
• Applicants who have been initially accepted will be contacted for the purpose of collecting and analyzing their entities’ data, which to be presented to the committee that will formed for selecting the participants
• Entities who nominated for the final stage must agree to the terms and conditions of participation in the program, as soon as they are notified of the final acceptance letters, in preparation for presenting them to the investors

Contact Information:

Yumnak@savola.com


Yumnak program is powered by SCALE Program by Chrome Advisory.