King Salman International Conference Center in Madinah will host 120 startups, including 60 global companies, in the Startup Investment Forum (SIF) from February 21 to 23.
The Small and Medium Enterprises General Authority (Monshaat) recently launched the Accelerator and Startup Studio Funds, which targets promising technology fields such as e-commerce, finance, artificial intelligence, and software.
The conference will host MIT Enterprise Forum Arab Startup Competition on the forum's sidelines. The event provides international facilities with the opportunity to expand their business in the Saudi market and meet local investors.
The Saudi Ministry of Investment facilitates the entry of startups into the Kingdom, issuing their licenses at a discounted rate, and supporting them to obtain the Saudi Commercial Registration (CR) after the entrepreneurship license.
Director of the Entrepreneurship and Innovation Sector at the Ministry Mohammed al-Amr said SIF contributes to achieving a set of goals by developing innovative small and medium-sized enterprises (SMEs).
Amr explained that entrepreneurs and business leaders who seek to expand in the Saudi market through this platform would receive investments from companies and individual investors.
He added that the Kingdom believes entrepreneurship and emerging companies achieve economic diversification, sustainability, and increasing investment opportunities in new and emerging sectors following Vision 2030.
Amr added that international startups would understand the diverse and dynamic entrepreneurship system that characterizes the Kingdom through the forum.
Companies will also find investment opportunities and get exclusive access to a vast network of investors, businessmen, and government agencies wishing to support pioneering and innovative institutions.
The director-General of Entrepreneurship and Humanitarian Initiatives at Community Jameel, Mohammed Abdulgaffar, explained that the Saudi initiative, in partnership with the Ministry of Investment, reflects the importance of the forum and its potential to achieve the Kingdom's ambitions.
Jameel Community seeks to boost the relationship between startups and investors in the country and establish partnerships between local and international institutions.
Abdulgaffar explained that the forum includes an exhibition of more than 60 international startups and 60 innovative Saudi facilities from the MIT Enterprise Forum Arab Startup Competition.
SIF also attracts local, regional, and international investors to the local market and contributes to achieving broader economic ambitions in line with Vision 2030.
The forum will bring together companies from Egypt, Jordan, Algeria, Poland, Georgia, Greece, the UK, and the US. It will include workshops provided by senior executives from several entities in Saudi Arabia and abroad.
