About
MAKKEN

Makken: Fintech Enablement Program

Unleash your potential with Makken

A program by Fintech Saudi with the support of the Saudi Central Bank and the Capital Market Authority. 

The program aims to empower entrepreneurs and startups in the fintech industry by providing subsidized support for technology, cloud, and cybersecurity.

These strategic steps of the program come as part of Fintech Saudi’s participation in achieving the strategic goals of Fintech Strategy within FSDP and Vision 2030 to support Saudi Arabia in becoming a global fintech hub and an attractive destination for innovators and investors to launch their companies in an environment that encourages fintech growth.

WHO IS IT FOR?

Makken is tailored just for your fintech company if you are:

Business Registration

A Saudi Arabian registered company (including registration with ZATCA, GOSI, CoC)

Regulated Activity

Must fall under the regulatory scope of SAMA or CMA directly or via Regulatory Sandbox or Fintech Lab

Investment

Have not raised more than 10 SAR million in funding

Majority Saudi owned

Majority Saudi-owned company (More than 51% owned by Saudi National/Entity)

Early-Stage Startups

Greenfield FinTechs aim to launch their new innovation or business proposition in the Kingdom

Vision 2030

Proposed focus areas of innovation must be consistent and aligned with FinTech Strategy, which is part of the Financial Sector Development Program under Vision 2030

Intended to KSA Market

Your innovation and business operation are intended for the KSA market.

Makken Extends A Comprehensive Range Of Subsidized Services To Enable Early-stage Fintech Companies

with the aim is to provide support and foster development by reducing the costs associated with complying with the highest technical and technological standards. We strive to enable entrepreneurs to focus on developing and enhancing their offered products.

Makken Extends A Comprehensive Range Of Subsidized Services To Enable Early-stage Fintech Companies such as :
Accelerated Cloud Setup
  • Cloud infrastructure deployment for new FinTechs within 72 hours.
Cloud Consumption & Managed Services
  • Cloud essentials monthly consumption & infrastructure management.
Cybersecurity Managed Services
  • 24/7 Various cybersecurity managed services offered by leading service providers.
Cybersecurity Training
  • Cybersecurity awareness workshops and training programs.

APPLICATION JOURNEY

Apply now and join Makken Fintech Enablement Program

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FAQS

Makken is tailored just for your fintech company if you ar:

  •       Business Registration: A Saudi Arabian registered company (including registration with ZATCA, GOSI, CoC)
  •       Regulated Activity: Must fall under the regulatory scope of SAMA or CMA directly or via Regulatory Sandbox or Fintech Lab
  •       Investment: Have not raised more than 10 SAR million in funding
  •       Majority Saudi Ownership: Majority Saudi-owned company (More than 51% owned by Saudi National/Entity)
  •       Early-Stage Startups: Greenfield FinTechs aim to launch their new innovation or business proposition in the Kingdom
  •       Alignment with Vision 2030: Proposed focus areas of innovation must be consistent and aligned with FinTech Strategy, which is part of the Financial Sector Development Program under Vision 2030
  •       Intended to KSA Market: Your innovation and business operation are intended for the KSA market.

Makken provides a range of subsidized services through several partners to enable emerging fintech companies. These services include:

  •       Supported services in enhancing compliance with cybersecurity requirements
  •       Supported services in the field of cloud computing.
  •       Discounted packages for emerging fintech companies from digital service providers.
  •       Providing shared workspaces

You can apply for Makken program through 5 basic steps:

  1.        Ensure that your company meets the selection criteria.
  2.        Submit your application for the program.
  3.        You will receive an email confirming the receipt of your application.
  4.        The program committee will review your application and assess its eligibility for the next stage.
  5.        Once the committee’s evaluation is complete, you will receive an email confirming whether your application has been accepted or not.

Makken aims to support early-stage fintech companies by providing subsidized services. Therefore, there are no fees or costs associated with participating in the program itself. There are only the costs associated with service providers’ services that your company may choose to utilize.

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