Latest news with #Monsha'at
CairoScene
a day ago
- Business
- CairoScene
Foreign Startup Registrations Surge 118% in Saudi Arabia
The Riyadi license offers foreign entrepreneurs streamlined access to the Saudi market as part of the Kingdom's push to boost its innovation ecosystem. Jul 22, 2025 Saudi Arabia has reported a 118% increase in foreign startup registrations, with 550 companies receiving Riyadi licenses by mid-2025, according to the Ministry of Investment. The Riyadi license offers foreign entrepreneurs streamlined access to the Saudi market as part of the Kingdom's push to boost its innovation ecosystem. In parallel, the Small and Medium Enterprises General Authority, Monsha'at, issued 364 licenses to accelerators and incubators across the country. These hubs are designed to support startups with infrastructure, investor networks, mentorship, and tools to develop and commercialise new products. The spike in licensing activity follows a record first half of the year for venture capital. Saudi startups secured $860 million across 114 deals, marking a 116% increase in capital and a 31% growth in deal count compared to the same period in 2024. These figures underscore Saudi Arabia's continued dominance as the leading VC destination in the Middle East and North Africa. The growth also reflects broader national efforts to attract foreign startups through simplified procedures and targeted reforms. The Ministry of Investment has introduced eight new business license categories - covering sectors like IT, consulting, hospitality, manufacturing, and mining - that allow 100% foreign ownership and are available through its digital portal. Saudi Arabia's momentum has also been supported by global startup showcases like LEAP, Biban, and participation in events such as Web Summit and VivaTech, reinforcing the Kingdom's efforts to position itself as a global hub for innovation and entrepreneurship.
Gulf Insider
2 days ago
- Business
- Gulf Insider
Foreign Startup Licenses In Saudi Arabia Surge 118% To 550 By Mid-2025
The number of foreign startups licensed under Saudi Arabia's 'Riyadi' initiative has reached 550 as of mid-2025, marking a 118% increase compared to the same period last year, according to the Ministry of Investment. This surge comes as part of national efforts to position the Kingdom as a regional hub for entrepreneurship by facilitating international startup entry and creating a flexible regulatory environment that fosters innovation and attracts investment. The General Authority for Small and Medium Enterprises (Monsha'at) has also issued 364 licenses for business incubators and accelerators across the country. These entities have played a vital role in attracting international entrepreneurs and supporting their growth journey — from early prototyping and mentorship to investor and market access — enabling them to launch effectively in the Saudi market. Flagship international events hosted in the Kingdom, such as Biban and LEAP, have further drawn global founders by showcasing Saudi Arabia's dynamic entrepreneurial ecosystem and investment opportunities. Additionally, the active participation of Saudi stakeholders in global forums like Web Summit, Vivatech, and Slush has enhanced international networking and promoted the Kingdom as an attractive destination for startup activity. The 'Riyadi' license (Startup Investment Registration) is one of the Ministry of Investment's key initiatives, designed to empower international and local entrepreneurs to establish ventures easily with partners from around the world. The initiative supports Saudi Arabia's broader objectives of economic diversification, innovation, and embedding a culture of entrepreneurship.
TECHx
16-07-2025
- Business
- TECHx
Visa Launches She's Next Initiative in Saudi Arabia
Home » Emerging technologies » Fintech » Visa Launches She's Next Initiative in Saudi Arabia Visa (NYSE: V), digital payments, has announced the launch of a new edition of its global advocacy initiative, She's Next in Entrepreneurship, in Saudi Arabia. This initiative is in partnership with Saudi Awwal Bank (SAB) and Monsha'at. This latest launch builds on Visa's long-standing commitment to supporting women-led businesses in the region. Applications are open until July 21, 2025, for women entrepreneurs across Saudi Arabia. Five finalists will be announced on August 1. They will participate in a pitch event and final judging on September 2. Three winners will be selected to receive equity-free grants totaling USD 60,000: Main Prize: USD 30,000 Runner-Up: USD 20,000 People's Favorite: USD 10,000 The program is open to women from all sectors, from established businesses to emerging startups with high-growth potential. Haya Sawan, a fitness expert and wellness entrepreneur in Saudi Arabia, joins the program as mentor. She leads several ventures, including SheFit and Playball Saudi, and serves on the board of the Saudi Surfing Federation. Ali Bailoun, Visa's Regional General Manager in KSA, Bahrain, and Oman, said the program supports more than just funding. It offers mentorship, recognition, and growth opportunities aligned with Saudi Vision 2030. He cited Visa's Women SMB Digitalization study, which found that 50% of women business owners want to expand their services, and 20% seek better financial skills. Lama Ghazzaoui, Chief Financial Officer at SAB, said that empowering women is a core commitment at the bank. She highlighted the growing impact of women-led businesses in the country. Monsha'at emphasized that empowering women entrepreneurs is key to national prosperity. The organization believes access to tools, mentorship, and funding enables women to drive innovation and job creation. Visa reported that this initiative follows successful past editions focused on fashion, gaming, and sports. It now returns to spotlight broader entrepreneurship in Saudi Arabia. In 2023, Visa and the International Trade Centre (ITC) trained 340 women across six countries under the SheTrades and She's Next programs. These initiatives supported over 12,000 women employees. Globally, Visa has invested approximately USD 3 million since 2020 in grants and coaching for over 250 women SMB owners, including in Saudi Arabia, UAE, Oman, Bahrain, Qatar, and Kuwait.
Arab News
22-06-2025
- Business
- Arab News
Empowering Saudi Arabia's SMEs through microfinance
As Saudi Arabia advances toward its ambitious Vision 2030 goals, small and medium enterprises have emerged as a pivotal force in driving the Kingdom's strategy for economic diversification, employment creation, and sustained innovation. According to the Monsha'at, Saudi Arabia recorded nearly 1.6 million registered SMEs by the fourth quarter of 2024 — marking a substantial 67 percent increase from Q3 2024, which demonstrates how rapidly Saudi Arabia's SME landscape is growing. In 2024, the Kingdom led the Middle East in venture capital funding in the SME sector, securing approximately $750m (SR 2.8 billion), a testament to growing investor confidence in the SME sector. Today, SMEs in Saudi Arabia employ around 7.8 million people and account for nearly 39 percent of the Middle East's total venture capital investments. However, sustaining this momentum requires the expansion of inclusive and innovative financing solutions. One such promising solution is microfinance. Pathways to growth Microfinance— broadly defined as providing small-scale, accessible financial services to underserved entrepreneurs and enterprises — has played a transformative role in global development. In the Saudi context and the broader GCC region, microfinance remains in its early stages, but holds untapped potential. Saudi Arabia has one of the world's highest internet and smartphone penetration rates, strong fintech infrastructure, and a young, digitally savvy population. The conditions are ripe for scalable, technology-enabled microfinance solutions to transform lives and communities more widely and efficiently than ever before. In this dynamic environment, microfinance can be leveraged as a powerful tool for economic development by providing accessible capital to entrepreneurs and small businesses, often overlooked by traditional banking. It fosters innovation by enabling SMEs to invest in research and development and launch new products and services. As SMEs are major job creators, their growth directly contributes to the creation of employment opportunities, especially for women and youth. Microfinance also promotes financial inclusion, empowering underserved individuals and businesses to engage more fully in the economy. Most importantly, it strengthens economic diversification, reducing oil dependency and building a more resilient and sustainable non-oil economy. Building foundations Fully unlocking the potential of microfinance in Saudi Arabia involves overcoming key challenges. Broader financial literacy programs, robust credit bureaus, and efficient asset registries are essential for effective service delivery, trust-building, risk management, and ensuring sustainable, long-term success among SMEs. Addressing these challenges requires coordinated action among regulators, banks, specialized financial institutions, and innovative stakeholders. Joint efforts are necessary to develop supportive regulatory frameworks, expand financial education initiatives, enhance digital infrastructure, and deliver technology-driven financial products tailored specifically for Saudi entrepreneurs and SMEs. If these challenges are successfully addressed, Saudi Arabia's microfinance sector holds tremendous promise. Advances in digital technology, and the integration of Islamic finance principles into microfinance products provide a foundation for substantial growth and adoption across Saudi Arabia and the wider GCC. Microfinance has the potential to reshape Saudi Arabia's economic future. By empowering individuals, driving entrepreneurship, promoting social inclusion, and bridging critical funding gaps, it will play a vital role in achieving Saudi Arabia's diversification goals and employment targets.
CairoScene
18-06-2025
- Business
- CairoScene
Riyadh Climbs 60 Places Amongst Top 100 Emerging Startup Ecosystems
Riyadh jumps 60 spots over three years to rank 23rd in Startup Genome's 2025 global list, emerging as one of the MENA region's top startup hubs. 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.
