Riyadh ranks 23, up 60 places, among top 100 emerging startup ecosystems globally
This was revealed in the "Global Startup Ecosystem 2025" report issued by Startup Genome, in partnership with the Global Entrepreneurship Network.
According to the report, the Kingdom recorded the second-highest performance in the Middle East and North Africa region, ranking third in terms of funding volume and investment value versus impact, while ranking fourth in terms of the availability of skills and expertise, enhancing its ability to attract and retain entrepreneurial talent.
The report highlighted the promising sectors that contributed to these results, most notably artificial intelligence, financial technologies, cybersecurity, smart cities, infrastructure, and digital health, which represent key pillars of the Kingdom's economic transformation plans.
This great progress reflects the Kingdom's rapid growth in the entrepreneurial ecosystem, particularly in terms of venture capital indicators and the development of the entrepreneurial ecosystem's infrastructure. This is in addition to the rising levels of innovation and investment in emerging technologies.
This achievement was made possible mainly because of the support and empowerment provided by government agencies in the Kingdom to investors in the sector, including the efforts of the Small and Medium Enterprises General Authority (Monsha'at) to build an integrated entrepreneurial ecosystem through its initiatives and programs that support the growth and expansion of startups and enhance the legislative and regulatory environment for entrepreneurs. This aims to increase the share of these enterprises in the GDP, in line with the goals of the Kingdom's Vision 2030.
The Startup Genome report was based on data analysis of more than 5 million startups across more than 350 global ecosystems, reviewing the most prominent investment trends and policies that stimulate the success of innovation and entrepreneurship at the international level.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
27 minutes ago
- Zawya
BlackRock mulls selling stake in Saudi Aramco gas pipelines, Bloomberg News reports
Asset manager BlackRock Inc is in talks with Saudi Aramco to divest its stake in the leasing rights of a natural gas pipeline network back to the state oil major, Bloomberg News reported on Thursday, citing people familiar with the matter. The stake, which BlackRock acquired in 2021, is likely to be worth billions of dollars, according to the report. Reuters could not immediately confirm the report. (Reporting by Shanima A in Bengaluru)
Zawya
31 minutes ago
- Zawya
Egypt: Zilla Capital advises Juhayna on strategic partnership with Saudi Arabia's AlRashed Group
Arab Finance: Zilla Capital Investment Bank has advised Juhayna Food Industries on a strategic partnership with AlRashed Group, a food distributor in Saudi Arabia, as per a statement. The agreement marks the start of Juhayna's operations in the Saudi market as part of its regional expansion plans. Khaled Gamal, Co-Founder and Managing Partner of Zilla Capital, said that Juhayna's entry into Saudi Arabia is a pivotal step in its regional growth efforts and reflects interest from Egyptian companies in Gulf market opportunities. He noted that the agreement demonstrates Zilla Capital's role in supporting its clients' expansion into new markets. Moustafa El-Shenety, Managing Partner and Head of Investment Banking at Zilla Capital, said the transaction is in line with the firm's approach to developing its presence in the Saudi market. He added that Zilla aims to connect Egyptian companies with opportunities in the Gulf by drawing on its network and experience in the region. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
The National
37 minutes ago
- The National
Saudi Arabia inaugurates first battery of Thaad air defence system
Saudi Arabia has inaugurated its first battery of the US-made Terminal High Altitude Area Defence (Thaad) missile system, state media reported on Thursday. The deployment of the system, which can intercept ballistic missiles inside and outside the atmosphere, is part of a broader defence project aimed at boosting the kingdom's air defence capabilities and ensuring the protection of vital strategic infrastructure and national interests, the Saudi Press Agency reported. A ceremony was held at the Air Defence Forces Institute in Jeddah, following the successful completion of system testing, evaluation and field training of personnel in Saudi Arabia, SPA said. Saudi Arabia becomes the second Gulf country after the UAE to deploy the Thaad system. The Emirates in 2011 became the first nation outside of US to obtain the missile defence system, purchasing two batteries that became operational in 2016. Qatar will also be acquiring the Thaad system, US President Donald Trump said during a visit in May as part of a regional tour that included Saudi Arabia and the UAE. He said the purchase was part of a deal worth $42 billion to supply Qatar with US military hardware. The US Department of Defence confirmed a deal to sell Saudi Arabia the Thaad system in 2019, as part of a $110 billion arms deal signed during the first Trump administration. Under an agreement announced in 2022 with US defence contractor Lockheed Martin, Saudi Arabia will manufacture interceptor launchers and canisters for Thaad batteries. No timetable was given for the start of production. The US deployed two Thaad batteries to Israel in October last year, with the system reportedly used during the recent 12-day war with Iran. The Thaad system is also being used in South Korea, Japan and Taiwan to protect against the threat from North Korean missiles.
