“The rain begins with a single drop.”
Famous Arabic Saying
Does anybody need startup accelerators or incubators to run a business in Saudi Arabia? Not at all. You only need a market-disruptive idea and a strong reason for your entrepreneurship to exist. Yet, accelerators and incubators can support you through the process of growing your business fast.
There is a big difference between going through the hardships of working alone on a project and having a community that backs you up with tools, how-to knowledge, experience, encouragement, and even trusting in your idea to the point of funding it. In the end, that’s what accelerators and incubators are for.
Accelerators and incubators in Saudi Arabia
Accelerators and incubators are here to support entrepreneurs in their process of bringing their vision to reality. Given that impressive ideas are coming from the community of entrepreneurs in Saudi Arabia, accelerators and incubators have also made their way into the Kingdom, mainly in Riyadh and Jeddah.
Have a look at the most famous ones:
Business Incubators and Accelerators Company (BIAC)
BIAC has a strong determination to enable innovation in the Kingdom of Saudi Arabia. They expect to achieve that goal by building, operating, supporting, and developing a scenario where entrepreneurs can work on their innovative ideas.
They have extensive experience in the field after operating and managing more than 10 business incubators and accelerators. They have also made it possible for over 700 beneficiary technological startups to come to be a reality.
Key information:
- Founder: Taqnia
- Founded: 2016
- City: Riyadh
- Industry: Tech
- Type: Accelerator / Incubator
- Program information: BIAC Projects
- Email: info@biac.com.sa
- Phone: +966 1 18296333
Blossom
Blossom is an outstanding accelerator focused on empowering women entrepreneurs. Their lead is on creating an innovative and inclusive ecosystem that works for everyone. Indeed, one of the main requirements to participate in its accelerator programs is having a woman owning equity or being a partner within the company.
Their main goal is to reduce the investment gap happening in the early-stage business investment environment. To do so, they use their accelerator programs to support women-led entrepreneurship and connect them with promising investors. So far, they have helped around 49 companies to find funds and have reached over 9M curated investments.
Key information:
- Founder: Eman Shakoor
- Founded: 2017
- City: Jeddah
- Industry: Tech / Non-Tech
- Type: Accelerator
- Program information: Blossom Pre-Accelerator Program
- Email: info@blossom.sa
- Phone: +966 5 58091947
Falak Business Hub
Falak Business Hub is a workplace created by entrepreneurs for entrepreneurs. They understand that most of the time, people run a startup to make an idea become true impact their surroundings and change the world.
To those passionate entrepreneurs, they offer many services and tools to support them through their journey. In general, these are:
- Usual accelerator programs
- Co-work space usage
- Angel groups access
- Venture capital firms networking
Indeed, they even organize pitch sessions where you get a chance to show and explain your project for a chance to get funded.
Key information:
- Founder: Adwa Aldakheel
- Founded: 2018
- City: Riyadh
- Industry: Tech
- Type: Accelerator / Incubator
- Program information: Falak Flagship Program
- Email: you@falak.sa
- Phone: +966 9 20005610
Flat6Labs
With the slogan “accelerating the future”, Flat6Labs stands out for its constant support of startups in the MENA region. They have several offices in the region, including Saudi Arabia, specifically in Jeddah.
Over the years, they have accumulated enough experience in leveraging entrepreneurs with technology-driven ideas. Every year, they invest in more than 100 market-disruptive ideas and gear them with key tools to accelerate their growth.
The support entrepreneurs find here can come in many forms, such as:
- Mentorship and coaching
- Guidance on how to create a business pitch
- Access to several business events, panels, and startup activities
- Building up your network
- Funding opportunities
- Office space usage
Key information:
- Founder: Ahmed El Alfi
- Founded: 2011
- City: Jeddah
- Industry: FinTech
- Type: Accelerator
- Program information: Accelerator Programs
- Email: info@flat6labs.com
- Phone: +966 2 0235685840
Middle East Investor Partner (MEVP)
In terms of helping entrepreneurs scale exceptional companies, they are not picky. They have supported startups from a wide range of industries like marketplaces, news media, mobility, SaaS, IoT, E-education, E-health, and many others.
They are convinced that technology-driven startups can bring new solutions to the MENA region, and that couldn’t be any different for the Kingdom of Saudi Arabia. Since 2010, they have been offering funds to strengthen the MENA entrepreneurship ecosystem.
Key information:
- Founder: Walid Hanna
- Founded: 2010
- City: Riyadh
- Industry: Tech
- Type: Incubator
- Program information: MEVP | Funds
- Contact: Email form
- Phone: +966 5 39504181
Nomow Business Incubator
Just like they state in their company’s name, their focus is on offering services to entrepreneurs and startups to incubate their businesses. These services go from funding to networking and exposure. The list goes like this:
- Funding
- Seed funding
- Follow-up funding
- Mentorship
- Coaching
- Weekly dinner
- 1-1 sessions
- Training
- Bootcamp
- Partners training
- Industry experts
- Academic training
- Legal support
- Legal advice
- Company registration
- Office space
- Workspace
- Incubation space
- Networking and exposure
- Demo day
- Media & PR coverage
- Startup events
- Business networking
Key information:
- Founder: –
- Founded: –
- City: Riyadh
- Industry: Tech / Non-Tech
- Type: Incubator
- Program information: Nomow Business Incubator Offering
- Email: info@nomow.ventures
- Contact: CEO Amr Rowaihi LinkedIn
Riyadh Valley Company
King Saud University promotes innovation and solutions to local problems through technology. The Riyadh Valley Company is its medium to do such a thing. By using venture capital investments, they support startups working on:
- Biotechnology and care
- Internet and communications
- Sustainable resources
- Financial technology
- Logistics and transportation
- Education
They aim to be the regional leader in knowledge-based investment and technology. That’s why they invest in a growth-stage business, to support economic development in the Kingdom of Saudi Arabia.
Key information:
- Founder: King Saud University
- Founded: 2010
- City: Riyadh
- Industry: Tech / Non-Tech
- Type: Incubator
- Program information: Investments
- Email: info@rvc.com.sa
- Phone: +966 1 14693219
Sure
Sure Global Tech is a very versatile company that focuses on business solutions such as software development, infrastructure services, and information security. They also put their hands on the FinTech industry by offering e-payment services and products. Apart from that, they incubate promising startups too.
This aspect of the company builds a win-win situation both for startups and the company’s long-term goals. While entrepreneurs can find a partner who funds their project, Sure can expand and open new markets.
Key information:
- Founder: Basem Alsallom
- Founded: 2004
- City: Riyadh
- Industry: FinTech
- Type: Incubator
- Program information: Sure Global Tech
- Contact: Email form
- Phone: +966 1 12050043
Taqadam
Since its foundation, Taqadam has been supporting startups with essential tools to build, launch and scale them. They cover everything an entrepreneur needs to start a business. Their offerings include:
- Mentorship to get guidance from a diverse pool of expert mentors.
- Workshops for product development, pitching, marketing, panels, and more.
- Non-diluting fundings.
- A community of entrepreneurs, mentors, and industry experts.
The whole process happens over a year, starting in the second trimester of each year with the applications. Chosen startups will start a boot camp in the third trimester to participate in the accelerator program. Once finished, the participants will showcase the results during the first trimester of the next year.
Key information:
- Founder: Abdulrahman Jahhaf
- Founded: 2016
- City: Thuwal
- Industry: IT
- Type: Accelerator
- Program information: Taqadam Accelerator
- Email: taqadam@kaust.edu.sa
- Contact: Twitter
Wadi Makkah Venture
The Umm al-Qura University is behind the Wadi Makkah Venture focused on incubating and accelerating business using Hajj and Umrah techniques.
They mainly offer:
- Investment in startup companies.
- Establishment and operation of incubators and accelerators.
- Training, software development, and management of modeling laboratories.
- Information systems and technology services.
- Organization of events, conferences, and exhibitions.
Key information:
- Founder: Umm al-Qura University
- Founded: 2017
- City: Makkah
- Industry: Tech / Non-Tech
- Type: Accelerator / Incubator
- Program information: Programs for Startups
- Email: info@wmvc.sa
- Phone: +966 1 25970033
MISK Innovation
MISK Innovation is a Saudi non-profit organization that empowers young Saudis to become creative problem solvers and innovators. It provides a range of programs and initiatives to support young entrepreneurs.
Misk Innovation’s programs and initiatives include:
- The Misk Accelerator: A 12-week accelerator program that provides early-stage startups with mentorship, funding, and resources to help them grow and succeed.
- The Misk Fellowship: A fellowship program that provides promising young entrepreneurs with the opportunity to learn from and network with experienced business leaders.
- The Misk Inspiration Center: A public space that hosts events, workshops, and exhibitions to promote innovation and entrepreneurship.
- The Misk Discovery Center: A STEM education center that provides children with hands-on learning experiences in science, technology, engineering, and math.
It has a strong track record of success. Over the past decade, it has supported over 1,000 startups and helped to create thousands of jobs. MISK Innovation is also a leading voice in the Saudi Arabian innovation ecosystem, and it has played a key role in shaping the country’s entrepreneurial landscape.
Key information:
- Founder: Prince Mohammed bin Salman bin Abdulaziz
- Founded: 2011
- City: Riyadh
- Industry: Non-profit
- Type: Accelerator / Incubator
- Program information: Misk Initiatives Incubator & Misk Accelerator
- Email: contact@misk.org.sa
- Phone: +966 11 419 6222
Dar Al Riyadh Entrepreneurship Center
The Dar Al Riyadh Entrepreneurship Center (DAREC) is a non-profit organization in Saudi Arabia. DAREC aims to support and encourage entrepreneurship in the country by providing aspiring entrepreneurs with the necessary resources, training, and mentorship.
DAREC offers various programs and services to entrepreneurs, including:
- Incubation Programs: It provides startups with office space, mentorship, and access to capital.
- Training Workshops: It conducts workshops on different topics like business plan development, marketing, and finance.
- Mentorship Programs: It connects entrepreneurs with experienced mentors who offer guidance and support.
- Networking Events: It organizes events that bring together entrepreneurs, potential investors, partners, and customers.
The center has been instrumental in launching hundreds of startups, many of which have achieved success. Additionally, DAREC has significantly contributed to raising awareness about entrepreneurship in Saudi Arabia and fostering a culture of innovation.
Key information:
- Founder: Prince Turki A. Abdulrahman Al Saud
- Founded: 1975
- City: Riyadh
- Industry: Non-profit
- Type: Accelerator
- Program information: PROGRAM AND PROJECT MANAGEMENT
- Email: info@daralriyadh.com
- Phone: + 966 11 277 59 00
Badir Program
The Badir Program is a national program aimed at fostering the growth of technology-based businesses in Saudi Arabia. It was launched in 2007 by King Abdulaziz City for Science and Technology (KACST).
The Badir Program provides a range of support services to entrepreneurs, including:
- Mentorship and training: The program provides entrepreneurs with access to experienced mentors and training programs to help them develop their business skills and knowledge.
- Funding: The program offers a variety of funding options to help entrepreneurs start and grow their businesses.
- Networking opportunities: The program connects entrepreneurs with potential investors, partners, and customers.
The Badir Program has been instrumental in the development of Saudi Arabia’s technology ecosystem. Since its inception, the program has supported over 1,000 startups and created over 25,000 jobs.
Key information:
- Founder: King Abdul Aziz City for Science and Technology (KACST)
- Founded: 2007
- City: Riyadh, Saudi Arabia
- Industry: Technology
- Type: Accelerator / Incubator
- Program Information: Badir Program for Technology Incubators and Accelerators
- Email: info@biac.com.sa
- Phone: +966 1 18296333
KAUST Innovation
KAUST Innovation is a division of King Abdullah University of Science and Technology (KAUST) that is responsible for commercializing the university’s research and technology.
KAUST Innovation has a number of programs and initiatives that support the development and commercialization of deep tech startups. These programs include:
- TAQADAM Accelerator: A six-month accelerator program that provides funding, mentorship, and training to early-stage deep tech startups.
- KAUST Innovation Ventures: A venture capital fund that invests in early-stage deep tech startups that are working to solve global challenges.
- Industry Engagement: A program that connects KAUST researchers with industry partners to explore opportunities for collaboration and commercialization.
The division has helped to establish a number of innovation hubs and co-working spaces in Saudi Arabia, and it has also worked to attract international investors and venture capitalists to the country.
Key information:
- Founder: King Abdullah bin Abdulaziz Al Saud
- Founded: 2009
- City: Thuwal,
- Industry: For Profit
- Type: Accelerator
- Program information: TAQADAM Accelerator
- Email: innovation@kaust.edu.sa
- Phone: +966 11 419 6222
Startup Avicenna
Startup Avicenna is a dedicated medical and healthcare accelerator established to push the boundaries of innovation in the healthcare sector. It is operated by VentureX, a leading provider of innovation hubs and entrepreneurship programs in the Middle East and North Africa (MENA) region.
Its mission is to empower healthcare startups, facilitate their access to funding opportunities, and support innovation in the medical community. The accelerator envisions a future where Saudi Arabia is at the forefront of healthcare innovation, with a thriving ecosystem of startups addressing the region’s healthcare challenges.
Startup Avicenna offers a variety of programs and services to support healthcare startups at all stages of development. These services include:
- Mentorship and Coaching: Startups gain access to a network of experienced mentors and coaches who provide guidance on business development, product strategy, and fundraising.
- Workshops and Trainings: Entrepreneurs participate in workshops and trainings that cover topics such as design thinking, lean startup methodology, and intellectual property protection.
- Network and Community: Startups connect with potential partners, investors, and customers within the healthcare ecosystem.
- Funding Opportunities: Startups are connected to potential funding sources, including venture capitalists, angel investors, and government grants.
Startup Avicenna focuses on supporting startups that are developing innovative solutions in the following areas:
- Artificial Intelligence (AI) in Healthcare: Startups leveraging AI to improve diagnosis, treatment, and disease prevention.
- Digital Health: Startups creating digital platforms and tools to enhance patient care, engagement, and access.
- MedTech: Startups developing medical devices, diagnostics, and therapeutics to address unmet healthcare needs.
Since its inception, Startup Avicenna has supported over 50 healthcare startups, helping them raise over $10 million in funding and create over 100 jobs.
Key information:
- Founder: VentureX
- Founded: 2021
- City: Riyadh
- Industry: Medical Healthcare
- Type: Accelerator
- Program information: THE ACCELERATION PROGRAM
- Email: NA
- Phone: NA
The Riyadh Techstars Accelerator
The Riyadh Techstars Accelerator is a competitive program, and only a small number of startups are accepted each year. However, the program has a strong track record of success, and many of its alumni have gone on to raise significant funding and build successful businesses.
It helps early-stage startups from Saudi Arabia and the Middle East North Africa (MENA) region build and grow their businesses. The program is run by Techstars, a global investment and accelerator program that has helped launch over 2,000 companies, including Uber, Spotify, and SpaceX.
The accelerator program provides startups with access to mentorship, funding, and resources from Techstars’ network of investors, mentors, and entrepreneurs. The program also includes workshops, pitch practice, and networking opportunities to help startups develop their business models, attract investors, and grow their customer base.
Key information:
- Founder: Vijay Tirathrai
- Founded: 2006
- City: Riyadh
- Industry: Venture Capital
- Type: Accelerator
- Program information: Pre-Accelerator & Accelerator
- Email: info@techstars.com
- Phone: NA
OXAGON Accelerator
The Oxagon Accelerator is a 12-week program designed to equip early-stage founders with the knowledge, expertise, resources, and network to build a successful company that is investment-ready for VCs and angel investors. The program is based in Oxagon, a new industrial city in Saudi Arabia that is focused on advanced and clean industries.
The program offers a range of benefits to participants, including:
- Mentorship from experienced entrepreneurs and industry experts
- Access to a global network of investors and partners
- Funding opportunities
- Workspace and resources in Oxagon
The Oxagon Accelerator is open to early-stage startups from around the world that are developing innovative solutions for the future of industry. The program is particularly focused on startups in the following areas:
- Water innovation
- Artificial intelligence
- Technology in the service of people
The Oxagon Accelerator is part of NEOM’s broader commitment to supporting innovation and entrepreneurship in Saudi Arabia. NEOM is a $500 billion megacity that is being built on the Red Sea coast.
Key information:
- Founder: NEOM
- Founded: 2021
- City: Riyadh
- Industry: StartUp Innovation
- Type: Accelerator
- Program information: OXAGON × McLAREN ACCELERATOR & OXAGON ACCELERATOR – KSA
- Email: oxagon.innovation@neom.com
- Phone: NA
Startups House
Startups House is a co-working space, incubator, and accelerator located in Jeddah, Saudi Arabia. They provide a range of services to startups, including:
- Mentorship and training: Startups House connects startups with experienced mentors who can provide guidance and support. They also offer a variety of training programs to help startups develop their skills and knowledge.
- Networking opportunities: Startups House hosts a number of events and workshops that help startups connect with potential partners, investors, and customers.
- Funding opportunities: Startups House helps startups connect with potential investors. They also offer a number of grant and funding programs.
Startups House is a valuable resource for startups in Saudi Arabia. They provide the support and resources that startups need to succeed.
Here are some of the specific programs that Startups House offers:
- Idea Inception: This program is for startups that are still in the early stages of development. It provides startups with the resources and support they need to validate their ideas and develop their business models.
- Pre-acceleration: This program is for startups that are ready to start developing their products or services. It provides startups with mentorship, training, and access to funding.
- Acceleration: This program is for startups that are ready to launch their products or services. It provides startups with intensive mentorship, training, and access to funding.
Startups House is also a licensed incubator by Monsha’at, the Saudi Arabian General Authority for Small and Medium Enterprises. This means that they are able to provide startups with a number of benefits, including access to government funding and support.
Key information:
- Founders: Bader Altheibany, Bahar AlHarbi, Fouad Basyyoni
- Founded: 2017
- City: Jeddah
- Industry: Startups House Investment Company (LLC)
- Type: Accelerator / Incubator
- Program information: Hackathons, Incubation Program, Pre-Accelerators and Business Accelerators
- Email: info@startupshouse.com
- Phone: +966 12 288 9081
BIM Ventures
BIM Ventures is a top venture studio in Saudi Arabia. It has created and invested in successful startups in various fields such as fintech, e-commerce, logistics, and education.
BIM Ventures actively engages in the entire development process of its startups, starting from the idea phase to launch. The company offers a range of resources to its startups, including funding, mentorship, and access to a network of partners. It also assists startups in creating and implementing business plans, building teams, and securing additional capital.
It has a solid track record of introducing more than 20 startups. Many of which have experienced significant growth and success.
Working with BIM Ventures provides several advantages, including:
- Access to Funding: BIM Ventures offers startups access to funding from its own funds and its network of investors.
- Mentorship: The experienced team at BIM Ventures provides startups with valuable mentorship and guidance.
- Access to Network: BIM Ventures facilitates startups in connecting with its network of partners, which includes investors, corporates, and government agencies.
- Go-to-Market Support: BIM Ventures assists startups in developing and executing effective go-to-market strategies
Key information:
- Founder: Mohamed Amine Merah
- Founded: 2017
- City: Riyadh
- Industry: For Profit
- Type: Accelerator / Incubator
- Program information: NA
- Email: hello@bimsaudi.com
- Phone: +966 55 780 1334
Tabadul
Tabadul, officially known as the Saudi Company for Electronic Information Exchange, is a Saudi Arabian information technology and communications company that facilitates business transactions by linking stakeholders and enhancing communication.
Key Features of Tabadul are:
- Electronic Data Interchange (EDI) platform: Tabadul provides a secure and reliable EDI platform that enables businesses to exchange trade documents electronically, streamlining the import and export process.
- Single Window for Trade: Tabadul operates a single window for trade, acting as a central hub for businesses to interact with various government agencies involved in the trade process, simplifying customs clearance and other regulatory procedures.
- Logistics solutions: Tabadul offers a suite of logistics solutions, including shipment tracking, cargo management, and freight forwarding services, to help businesses optimize their supply chains.
- Data analytics: Tabadul utilizes data analytics to provide businesses with insights into their trade patterns and identify potential areas for improvement.
Tabadul has played a significant role in enhancing the efficiency and transparency of trade in Saudi Arabia. In addition to its direct impact on businesses, Tabadul has also contributed to the overall growth of the Saudi Arabian economy. By facilitating trade, Tabadul has helped to attract foreign investment and create jobs in the logistics and trade sectors.
Key information:
- Founder: Musaab Al-Mubarak.
- Founded: 2009
- City: Riyadh
- Industry: Information Technology
- Type: Accelerator
- Program information: Business Operations Solutions
- Email: info@tabadul.sa
- Phone:+966 11 437 7377
The Garage
The Garage stands as the biggest startup hub in the Middle East, covering a vast area of 28,000 square meters. It officially started in 2022 and finds its home within the King Abdulaziz City for Science and Technology (KACST). This non-profit organization has a clear goal i.e. to back and strengthen startups not only in Saudi Arabia but also in the broader region.
The Garage provides a range of services and resources to startups, including:
- Coworking Spaces: Startups can utilize diverse coworking spaces provided by The Garage for collaborative work and networking with fellow entrepreneurs.
- Mentorship and Training: The Garage extends mentorship and training programs to assist startups in honing their business skills and fostering company growth.
- Funding Opportunities: Connecting startups with investors and potential funding sources is a priority for The Garage.
- Events and Workshops: Hosting a range of events and workshops, The Garage facilitates learning for startups on emerging trends and technologies.
With a substantial record of achievements since its inception, The Garage has supported over 300 startups, resulting in the creation of more than 1,000 jobs. Notable successes include Noon, a leading e-commerce platform in the Middle East, and Bayzat, a cloud-based HR platform.
Playing a pivotal role in nurturing the startup ecosystem in Saudi Arabia, The Garage aligns with the country’s attributes comprising an expanding and youthful population, a robust economy, and a government committed to fostering entrepreneurship. Through its efforts, The Garage contributes to cultivating an environment essential for the prosperity and triumph of startups.
Key information:
- Founder: The garage is a collaborative project launched by the Ministry of Communications and Information Technology, King Abdulaziz City for Science and Technology and the Saudi Federation for Cybersecurity, Programming and Drones.
- Founded: 2022
- City: Riyadh
- Industry: Startup destination
- Type: Accelerator / Incubator
- Program information: Accelerator Program, Incubator Program
- Email: NA
- Phone: NA
inspireU
InspireU, a prominent digital group in Saudi Arabia, is all about progress, innovation, and shaping the future. As a part of STC, a leading telecom and tech company in the Kingdom, InspireU is committed to empowering entrepreneurs and fostering the growth of startups in Saudi Arabia.
InspireU’s Goals
Supporting ICT/Digital Innovation Startups: InspireU offers various services to emerging ICT/digital innovation startups, such as:
- Training Programs: Entrepreneurs get access to top-notch training programs led by experts from Silicon Valley.
- Mentorship and Networking: InspireU links startups with experienced mentors and provides networking opportunities for broader reach and insights.
- Funding Assistance: InspireU helps startups secure funding from venture capitalists and angel investors.
- Office Space and Co-working: Startups receive access to office space and co-working facilities to encourage collaboration.
Empowering Entrepreneurs: InspireU actively collaborates with entrepreneurs to cultivate a lively startup ecosystem in Saudi Arabia through:
- Workshops and Events: Organizing workshops, conferences, and seminars to educate entrepreneurs on various business aspects, technology, and innovation.
- Competitions and Challenges: Hosting competitions to encourage innovation and identify promising startups.
- Community Building: Fostering a supportive community of entrepreneurs by providing resources, expertise, and networking opportunities.
Impact of InspireU: InspireU has played a vital role in nurturing the Saudi Arabian startup ecosystem, leading to:
- Accelerated Startup Growth: InspireU has assisted numerous startups in refining their ideas, business models, and securing funding, enabling them to grow and scale.
- Promoting Innovation: By fostering a culture of innovation and entrepreneurship, InspireU has encouraged the development of new technologies and solutions to address local and global challenges.
- Contributing to Economic Growth: InspireU’s support for startups has contributed to job creation, economic diversification, and overall growth of the Saudi Arabian economy.
Key information:
- Founder: Saudi Telecom Company
- Founded: 2015
- City: Riyadh
- Industry: ICT/digital innovation
- Type: Accelerator / Incubator
- Program information: inspireU General
- Email: IRU@stc.com.sa
- Phone: +966114527000
500 Global
500 Global is a notable venture capital firm. It holds a substantial presence in Saudi Arabia and actively supports the growth of the country’s startup ecosystem through a range of initiatives, including:
- Investments: 500 Global has invested in several promising Saudi Arabian startups, providing them with the necessary capital and expertise to scale their operations and achieve success.
- Accelerator Programs: 500 Global operates the Sanabil 500 MENA Seed Accelerator, a renowned program that nurtures early-stage startups in the Middle East and North Africa (MENA) region, including Saudi Arabia. The accelerator provides participants with mentorship, networking opportunities, and access to funding.
- Venture Education: 500 Global, in collaboration with Sanabil Investments, offers venture education and training programs tailored for aspiring investors in Saudi Arabia. These programs aim to equip individuals with the knowledge and skills to effectively evaluate and invest in potential startups.
500 Global’s Impact on Saudi Arabia’s Startup Ecosystem: 500 Global’s contributions to the Saudi Arabian startup ecosystem are noteworthy:
- Stimulating Startup Growth: The firm’s investments and accelerator programs have played a crucial role in fostering the growth of Saudi Arabian startups, providing them with the resources and support they need to thrive.
- Enhancing Investment Landscape: 500 Global’s presence in Saudi Arabia has attracted more investors to the region, boosting the overall investment landscape and creating more opportunities for startups.
- Nurturing Talent Pool: The firm’s venture education initiatives are helping to cultivate a skilled workforce of investors and entrepreneurs, contributing to the long-term growth of the Saudi Arabian startup ecosystem.
Key information:
- Founder: Dave McClure and Christine Tsai
- Founded: 2010
- City: Riyadh
- Industry: Venture capital firm
- Type: Accelerator / Incubator
- Program information: Sanabil 500 MENA Seed Accelerator
- Email: info@500.co
- Phone: (415) 974-6343
Wamda
Wamda has been instrumental in shaping the MENA startup scene. It has contributed to the launch of numerous startups, the creation of thousands of jobs, and the generation of millions in revenue. Recognized by esteemed organizations like the World Economic Forum and the Arab Innovation Network, Wamda stands out for its significant role in entrepreneurship.
In the Saudi Arabian startup ecosystem, Wamda plays a pivotal role in fostering innovation and driving economic growth. The company supports startups addressing local challenges, thus contributing to the overall development of the country.
Wamda operates various programs and networks, including:
- Wamda Capital: An investment firm offering early-stage funding to promising startups in the MENA region.
- Wamda Accelerator: A mentorship and training program assisting startups in developing their business models and entering the market.
- Wamda X: A co-working space and community hub for entrepreneurs located in Beirut and Cairo.
- Wamda Mix N’ Mentor: A series of networking events connecting entrepreneurs with investors, mentors, and potential partners.
- Wamda Digest: An online publication covering the latest news and trends in the MENA startup ecosystem.
Wamda proves to be an invaluable resource for startups and entrepreneurs in the MENA region. Through its diverse programs and networks, Wamda provides the necessary support for startups to thrive. Additionally, its publications and events contribute to raising awareness about the opportunities and challenges faced by entrepreneurs in the region.
Key information:
- Founder: Fadi Ghandour
- Founded: 2014
- City: Riyadh
- Industry: Venture Capital
- Type: Accelerator
- Program information: Wamda X
- Email: info@wamdacapital.com
- Phone: +97143388823
SAVOLA
Savola Group stands as a diverse Saudi Arabian company involved in food, retail, and real estate. It holds the top position in the kingdom’s food industry when it comes to revenue and is among the significant players in the Middle East and North Africa (MENA) region.
The main chunk of Savola Group’s revenue, more than 60%, comes from its food business. The company manufactures various food items such as edible oils, sugar, pasta, ghee, and margarine. These products, under Savola Group’s brands, are widely recognized in the MENA region and are available in over 40 countries.
Following closely, the retail business constitutes over 30% of Savola Group’s revenue. The company runs a series of supermarkets and hypermarkets in Saudi Arabia and Egypt. The growth in its retail business is attributed to the rising disposable incomes of consumers in the MENA region.
Additionally, Savola Group engages in real estate, contributing a smaller share to its overall revenue. The company owns and develops a collection of commercial and residential properties within Saudi Arabia.
Savola Group is publicly traded on the Tadawul stock exchange and holds a prominent position in the Tadawul All Share Index.
Key information:
- Founder: Abdulkadir Al Muhaidib
- Founded: 1979
- City: Riyadh
- Industry: Strategic investment
- Type: Venture Capital
- Program information: NA
- Email: info@savola.com
- Phone: +966126573333
Conclusion
Comparing the current entrepreneurial environment with a decade ago can inform us that interest in startups has increased. That boom created the need to have a common place to share the do’s and don’t’s.
For anyone embracing progress and technology, the existence of these incubators and accelerators only means good news. There are still a lot of things to do, yet keep this trend going, and we will see even more technological developments around us.
If you are eager to be part of this trend and don’t know where to start, you can always claim a free consultation with us for any startup and business growth-related topics. We will make sure to address your questions and doubts. Looking forward to hearing from you soon!
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