Riyadh Climbs 60 Places Amongst Top 100 Emerging Startup Ecosystems
Jun 18, 2025
Riyadh has been ranked 23rd in Startup Genome's 2025 'Global Startup Ecosystem' report, marking a dramatic rise of 60 positions over the past three years. The Saudi capital now stands among the top 100 emerging startup ecosystems globally and holds the second-highest position in the MENA region.
According to the report, Riyadh placed third regionally in funding volume and fourth in talent availability—two key indicators of ecosystem strength. The city's rise has been fuelled by high-growth sectors including artificial intelligence, fintech, cybersecurity, smart cities, digital health, and infrastructure—core areas aligned with Saudi Arabia's Vision 2030 strategy for economic diversification.
The ecosystem's progress also reflects a growing number of significant venture exits, including the notable $1.1 billion exit of insurtech company Rasan. These exits signal investor confidence and a maturing venture environment.
Public-sector institutions such as Monsha'at, the General Authority for Small and Medium Enterprises, continue to play a pivotal role by promoting regulatory reforms, supporting accelerator programmes, and building infrastructure that supports long-term innovation and entrepreneurship.
Startup Genome's 2025 report analysed data from more than five million startups across 350 ecosystems worldwide. Riyadh's strong showing reflects its accelerating maturity, increased access to capital, and robust infrastructure development. Since 2018, Riyadh's startup ecosystem has attracted more than $2.6 billion in venture capital investment. With growing momentum in digital innovation and government support, the city is positioning itself as a serious contender in the global tech landscape, challenging traditional hubs from Silicon Valley to Singapore.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al-Ahram Weekly
an hour ago
- Al-Ahram Weekly
Egypt PM inaugurates Real Estate Registry and Notarization Complex in New Alamein - Society
Prime Minister Mostafa Madbouly, alongside other ministers, inaugurated the Real Estate Registry and Notarization Complex in New Alamein City on Thursday, launching an integration system between the Ministry of Justice and the Ministry of Housing in 16 urban community real estate registry offices in new cities. The new integration system links the Ministry of Justice's Real Estate Registry and Notarization Authority and the Ministry of Housing's New Urban Communities Authority. The real estate registry offices are responsible for registering all transactions issued by the New Urban Communities Authority regarding lands, buildings, and units within their jurisdiction, as defined by law. In a cabinet statement, PM Madbouly highlighted the recent development efforts in New Alamein City, where numerous projects are still underway. He stated that the newly launched services aim to bring about a tangible improvement in the quality of services provided in the area, in line with Egypt's development objectives for the northwest coast. He stressed that this reflects the state's comprehensive vision for developing this promising area to attract more investments. During his tour in the new complex, Minister of Justice Adnan El-Fangary briefed PM Madbouly on the facility's capabilities. He said the complex is equipped with modern electronic tools to ensure fast and accurate transaction processing. El-Fangary also detailed the workflow and procedures of the state's digital transformation system, particularly the one-stop shop model designed to ease procedures for citizens. The minister added that the Distinguished Notarization Branch in New Alamein City consists of three service windows, in addition to two digital service windows available via the Egypt Digital Platform. Consequently, the new urban community real estate registry office features five windows for receiving real estate registration requests for properties within the jurisdiction of New Alamein. This initiative, which is part of the integration system between the Real Estate Registry and Notarization Authority and the New Urban Communities Authority, is facilitated through the G2G (government-to-government) digital hub and supports Egypt's Vision 2030. The move will enable the retrieval of all text, digital, spatial, and licensing data related to land, properties, and units within these communities, as per Law No. 177 of 2022, which regulates real estate registration in new urban communities. For his part, Minister of Communications and Information Technology Amr Talaat emphasized that the opening of the complex is part of ongoing cooperation with the Ministry of Justice to digitize various services. It also aligns with broader efforts to implement the Digital Egypt initiative nationwide, he stressed. Talaat clarified that the partnership aims to modernize and streamline services through technology, reducing burdens on citizens. He further explained that the Ministry of Communications is responsible for providing the digital infrastructure, overseeing technical and engineering support, and training staff to ensure the success of the national Digital Egypt project. Follow us on: Facebook Instagram Whatsapp Short link:
CairoScene
5 hours ago
- CairoScene
Saudi Rail Network to Grow 50% by 2030
Expansion will add nearly 2,700 km, connecting ports, airports, industrial hubs, and boosting freight capacity in line with Vision 2030's logistics ambitions. Saudi Arabia's national rail network will be increased from 5,300 km to 8,000 km - a growth of over 50% - as part of the Kingdom's National Transport & Logistics Strategy. The expanded network is expected to significantly ease road congestion, improve freight reliability, and cut logistics costs. It will also support rising non-oil exports and help the Kingdom meet its Vision 2030 target of transporting 10% of GDP through transport and logistics. Funding for rail projects constitutes nearly half of current transport and logistics investment. Expected outcomes include reduced carbon emissions, thousands of new jobs, and enhanced multimodal connectivity across ports, airports and industrial zones.
Daily News Egypt
11 hours ago
- Daily News Egypt
Egypt's FRA chief vows to reform business environment to boost investor confidence
Egypt's Financial Regulatory Authority (FRA) is serious about reforming the business environment in the non-banking financial sector to boost the confidence of local and foreign investors, its chairperson Mohamed Farid said on Monday. Speaking at the 'Egypt Day' event at the London Stock Exchange, Farid said that the credibility of the investment climate begins with local investors' confidence in policies and the business environment. Farid was part of an official delegation on a promotional tour organised by the Egyptian-British Business Association. In his remarks, he outlined the FRA's efforts to contribute to Egypt's 'Vision 2030' by unleashing private sector growth. He highlighted the authority's focus on digital transformation as a key driver for the non-banking financial sector's role in the national economy. This includes developing regulations for fintech, enhancing market protection and innovation, and updating accounting standards to improve transparency. Other key initiatives mentioned were the launch of Africa's first regulated voluntary carbon market in Egypt and the drafting of a new unified insurance law. Farid said the FRA's main objectives are market integrity and stability, protecting customers' rights, digitalisation, and simplifying procedures. He added that the authority's goals support the government's efforts to increase private sector participation in achieving economic growth. The FRA chairperson pointed to the success of recent digital initiatives, noting that new regulations for identity verification and digital contracts have paved the way for a surge in new accounts. He said that over 200,000 new accounts were registered in gold investment funds within one year, with investments exceeding 2 billion Egyptian pounds. Farid also discussed the FRA's work on developing legislative frameworks to stimulate investment, including a flexible model for participatory financing and new rules for digital investment platforms in real estate investment funds. He affirmed that market stability and investor confidence remain top priorities. He noted that the FRA had recently overseen a comprehensive update to Egyptian accounting standards, introducing fair value models for fixed and intangible assets and real estate investments. This allows companies to more accurately reflect their financial position, supporting sound financing and investment decisions. Farid also highlighted the FRA's support for entrepreneurship and innovation, including developing new valuation standards for startups to help them access the necessary financing for growth.
