/main-category/startups en /node/2578513/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0">Nour El-Shaeri </a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Fri, 2024-11-08 12:10</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s venture capital ecosystem continues to boost the regional startup space, with one company plowing $20 million into the early stage-focused Booster IV fund.</p> <p> Saudi Venture Capital Co. announced it was pouring the money into the fund, which is managed by Beco Capital and focuses on investments across the Gulf region.</p> <p> Booster IV aims to support high-growth or disruptive startups, targeting companies from the seed stage up to series A. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/11/08/4542833-762938338.png" width="1544" height="1028" alt="" title="¶¶Òõ¶ÌÊÓƵ’s signature startup event Biban 24 saw deals worth more than $5 billion signed to support SMEs. SPA" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/startup-wrap">Startup Wrap</a></div><div class="field-item odd"><a href="/tags/biban-2024">Biban 2024</a></div><div class="field-item even"><a href="/tags/biban-24">Biban 24</a></div></div></div> Fri, 08 Nov 2024 09:34:23 +0000 owen.bennett 2578513 at /node/2578383/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nadin-hassan-%C2%A0%C2%A0">Nadin Hassan   </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2024-11-07 11:37</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ is set to launch multiple programs to boost its rapidly expanding startup ecosystem, focusing on the healthcare and logistics sectors, according to a senior official.</p> <p> Speaking to Arab News on the sidelines of Biban 24 in Riyadh, the Assistant Deputy Minister of Entrepreneurship at the Ministry of Communications and Information Technology, Mohammed Al-Ariefy, highlighted that these programs will be unveiled at the forum in the coming days.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/11/07/4542483-1627308309.png" width="770" height="545" alt="" title="Assistant Deputy Minister of Entrepreneurship at the Ministry of Communications and Information Technology Mohammed Al-Ariefy. AN" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/biban-2024">Biban 2024</a></div><div class="field-item odd"><a href="/tags/biban-24">Biban 24</a></div><div class="field-item even"><a href="/tags/startups">startups</a></div><div class="field-item odd"><a href="/tags/healthcare">Healthcare</a></div></div></div> <span class="label abs-el uppercase special"> Special </span> Thu, 07 Nov 2024 11:00:07 +0000 owen.bennett 2578383 at /node/2577778/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-%C2%A0">Nour El-Shaeri  </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sat, 2024-11-02 13:03</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s startup ecosystem is undergoing a remarkable transformation, driven by increasingly attractive valuations and a surge in early-stage investment activity.</p> <p> The Kingdom is establishing itself as a leader in venture capital funding across the Middle East and North Africa region, with government-backed initiatives, economic reforms, and digital transformation playing pivotal roles.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/11/02/4540905-1483455973.jpg" width="1000" height="716" alt="" title="¶¶Òõ¶ÌÊÓƵ led the MENA region in venture capital funding during the first half of 2024, with a total of $412 million. (AFP)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/startups">startups</a></div><div class="field-item odd"><a href="/category/tags/saudi-arabia">¶¶Òõ¶ÌÊÓƵ</a></div></div></div> Sat, 02 Nov 2024 10:08:18 +0000 Arbee 2577778 at /node/2577673/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0">Nour El-Shaeri </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Fri, 2024-11-01 12:27</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi venture capital firms are fueling regional innovation through substantial investments and new initiatives. </p> <p> Aramco Ventures led New York-based industrial internet-of-things monitoring and communications startup Andium’s $21.7 million series B funding round. </p> <p> Existing backers, including Climate Investment, Intrepid Financial Partners, and individual investors such as former Citadel Chief Investment Officer Thomas Miglis, also participated. The investment brings Andium’s total funding to over $40 million, following its $15 million series A round in 2021. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/11/01/4540668-1358923863.jpg" width="1000" height="667" alt="" title="This week&#039;s FII8 witnessed numerous deals that boosted the startup landscape. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/startup-wrap">Startup Wrap</a></div><div class="field-item odd"><a href="/tags/startups">startups</a></div><div class="field-item even"><a href="/tags/aramco-ventures">Aramco Ventures</a></div><div class="field-item odd"><a href="/tags/wa%E2%80%99ed-ventures">Wa’ed Ventures</a></div></div></div> Fri, 01 Nov 2024 09:43:56 +0000 owen.bennett 2577673 at /node/2577531/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0">Nour El-Shaeri </a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2024-10-31 13:04</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Sentiments about ¶¶Òõ¶ÌÊÓƵ becoming the next entrepreneurial hotspot are resonating as global venture capitalists gathered to discuss the region’s future. </p> <p> During a panel session at the Future Investment Initiative in Riyadh, industry leaders cited the Kingdom when asked which region is going to be the next Silicon Valley, as they drew comparisons between ¶¶Òõ¶ÌÊÓƵ and the US.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/10/31/4540288-939615798.png" width="1229" height="691" alt="" title="A panel session at the Future Investment Initiative in Riyadh focused on venture capitalists. AN" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/FII8">FII8</a></div><div class="field-item odd"><a href="/category/tags/saudi-vision-2030">Saudi Vision 2030</a></div><div class="field-item even"><a href="/tags/startups">startups</a></div></div></div> Thu, 31 Oct 2024 10:14:03 +0000 owen.bennett 2577531 at /node/2576852/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sat, 2024-10-26 10:52</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s startup ecosystem is gaining momentum, with several firms securing significant investments and partnerships as they scale their operations.</p> <p> Backed by both local and international venture capital, several startups are positioning themselves as key players in the region’s digital transformation, supporting Saudi Vision 2030’s goals of fostering innovation and economic diversification.</p> <p> ¶¶Òõ¶ÌÊÓƵ-headquartered mobility startup invygo has raised an $8 million series A extension, led by STV’s newly launched NICE Fund.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/10/26/4538542-732444161.jpg" width="1000" height="667" alt="" title="Football sensation Cristiano Ronaldo has invested an undisclosed amount in personalized nutritional supplements provider Bioniq. (Supplied)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/start-week">Start-up of the Week</a></div></div></div> Sat, 26 Oct 2024 07:54:42 +0000 Arbee 2576852 at /node/2575892/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sat, 2024-10-19 13:05</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> CAIRO: ¶¶Òõ¶ÌÊÓƵ’s startup ecosystem accounted for 60 percent of the Middle East and North Africa region’s funding in September, with $170.8 million raised across 23 deals.</p> <p> According to Wamda’s monthly report, $282 million was raised across 63 startups in the region, a 234 percent increase month-on-month and a 607 percent rise year-on-year. Debt financing constituted 12 percent of the total raised.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/10/19/4536090-1228620769.jpg" width="1195" height="723" alt="" title="Egyptian micromobility startup Rabbit Mobility closed a $1.3 million investment round led by 500 Global and Untapped Global. (Supplied)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/startup-week">Startup of the Week</a></div><div class="field-item odd"><a href="/tags/saud">saud</a></div><div class="field-item even"><a href="/tags/funding">funding</a></div></div></div> Sat, 19 Oct 2024 10:08:28 +0000 sherouk.maher 2575892 at /node/2575381/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2024-10-15 16:12</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Startups in the Kingdom are set to benefit after Saudi Venture Capital Co. committed $15 million to Saqr 2 Fund, which targets early-stage investments across the region. </p> <p> The $90 million fund, managed by Saudi-based Vision Ventures, targets businesses from pre-seed to pre-series B stages, spanning various sectors in the Kingdom and the broader Middle East and North Africa region, according to the Saudi Press Agency. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/10/15/4534737-258292458.jpg" width="1000" height="456" alt="" title="The startup ecosystem across the region is set to receive a boost. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/saudi-venture-capital-co">Saudi Venture Capital Co.</a></div><div class="field-item odd"><a href="/tags/vision-ventures">Vision Ventures</a></div></div></div> Tue, 15 Oct 2024 13:14:47 +0000 owen.bennett 2575381 at /node/2574851/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Fri, 2024-10-11 11:05</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Startups across the Middle East continue to attract significant investment, with new funding rounds and strategic acquisitions highlighting the region's growing appeal to investors. </p> <p> From ¶¶Òõ¶ÌÊÓƵ and the UAE to Oman and Kuwait, emerging companies are securing capital to expand their market reach, develop innovative solutions, and strengthen their positions in competitive industries.  </p> <p> Saudi property tech startup Ejari has closed a $14.65 million seed round, comprising a mix of debt and equity, to expand its presence in the rent now, pay later market.  </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/10/11/4533395-579840625.jpg" width="1000" height="684" alt="" title="Startups across the region secured investments. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/startup-wrap">Startup Wrap</a></div><div class="field-item odd"><a href="/tags/ejari">Ejari</a></div><div class="field-item even"><a href="/tags/yamm">Yamm</a></div><div class="field-item odd"><a href="/tags/rasseed">Rasseed</a></div></div></div> Fri, 11 Oct 2024 08:18:22 +0000 owen.bennett 2574851 at /node/2574391/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0%C2%A0%C2%A0">NOUR EL-SHAERI   </a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2024-10-08 11:26</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Startups in the Middle East and North Africa raised $1.3 billion in the first nine months of the year, reflecting a 13 percent year-on-year decline, the latest data showed. </p> <p> MAGNiTT, a venture capital data platform for emerging venture markets, revealed this in its third-quarter report, analyzing investment trends across the Middle East, Africa, Southeast Asia, Pakistan, and Turkiye for the first nine months of 2024. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/10/08/4532233-1217869604.jpg" width="1000" height="591" alt="" title="Fintech remained the top sector in MENA, attracting $480 million across 72 deals. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/mena">MENA</a></div><div class="field-item odd"><a href="/tags/startups">startups</a></div><div class="field-item even"><a href="/tags/mena-startups">MENA startups</a></div><div class="field-item odd"><a href="/tags/startup-funding">startup funding</a></div><div class="field-item even"><a href="/tags/fintech">fintech</a></div></div></div> Tue, 08 Oct 2024 08:42:45 +0000 sarah.glubb 2574391 at /node/2574148/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2024-10-06 15:07</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: The startup ecosystem in the Middle East and North Africa is experiencing significant growth, with ¶¶Òõ¶ÌÊÓƵ emerging as a key driver of funding activity.</p> <p> According to a recent report by Rasmal, MENA startups raised a total of $328.3 million across 60 companies in September, reflecting increasing investor confidence in the region’s entrepreneurial talent.</p> <p> This surge in funding highlights MENA’s expanding role in the global startup landscape, fueled by government initiatives and a rising appetite for risk and innovation in the private sector.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/10/06/4531631-844370345.jpg" width="1024" height="576" alt="Government programs, including the Public Investment Fund and various venture-focused initiatives, have been instrumental in driving this transformation. The Saudi government’s proactive stance has attracted private investment, with venture capital firms, accelerators, and incubators keen to nurture local talent. File" title="Government programs, including the Public Investment Fund and various venture-focused initiatives, have been instrumental in driving this transformation. The Saudi government’s proactive stance has attracted private investment, with venture capital firms, accelerators, and incubators keen to nurture local talent. File" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/investment">Investment</a></div><div class="field-item odd"><a href="/tags/funding">funding</a></div><div class="field-item even"><a href="/tags/mena">MENA</a></div><div class="field-item odd"><a href="/tags/fintech">fintech</a></div><div class="field-item even"><a href="/category/tags/saudi-arabia">¶¶Òõ¶ÌÊÓƵ</a></div><div class="field-item odd"><a href="/tags/startups">startups</a></div><div class="field-item even"><a href="/tags/saudi-startups">saudi startups</a></div></div></div> Sun, 06 Oct 2024 12:13:24 +0000 shahrukh.jamshed 2574148 at /node/2573126/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sat, 2024-09-28 19:41</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Mobility, climate, and tech startups across the Middle East and North Africa have secured significant investments in recent weeks, reflecting the region’s continued growth in innovation. </p> <p> In ¶¶Òõ¶ÌÊÓƵ, car rental firm Shift raised $82.8 million in an investment led by Merak Capital, making it one of the largest funding rounds in the second half of the year. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/09/28/4529059-1015798728.jpg" width="800" height="491" alt="Founded in 2017 by Khalid Al-Sulaiman, Shift provides technology-driven mobility solutions for people and products, and currently operates in 57 cities across ¶¶Òõ¶ÌÊÓƵ with a fleet of over 12,000 vehicles. (Supplied)" title="Founded in 2017 by Khalid Al-Sulaiman, Shift provides technology-driven mobility solutions for people and products, and currently operates in 57 cities across ¶¶Òõ¶ÌÊÓƵ with a fleet of over 12,000 vehicles. (Supplied)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/start-week">Start-up of the Week</a></div><div class="field-item odd"><a href="/tags/startup">startup</a></div><div class="field-item even"><a href="/tags/mobility">Mobility</a></div><div class="field-item odd"><a href="/category/tags/saudi">Saudi</a></div></div></div> Sat, 28 Sep 2024 16:44:10 +0000 daniel.fountain 2573126 at /node/2572711/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2024-09-25 12:16</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s top 10 startups are showing rapid growth and strong innovation across key sectors, including digital security, convenience apps, and business solutions, according to a new report. </p> <p> LinkedIn’s annual Top Startups list, which ranks the most influential emerging companies, showcases those making a significant impact while attracting top talent. </p> <p> Cybersecurity startup Cipher topped the list, reflecting the growing demand for digital security services in ¶¶Òõ¶ÌÊÓƵ. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/09/25/4527936-1026269669.jpg" width="1000" height="616" alt="" title="Saudi startups are gaining traction thanks to the continuing evolution of the Kingdom’s entrepreneurial ecosystem. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/startups">startups</a></div><div class="field-item odd"><a href="/category/tags/linkedin">Linkedin</a></div><div class="field-item even"><a href="/tags/saudi-startups">saudi startups</a></div></div></div> Wed, 25 Sep 2024 09:36:26 +0000 owen.bennett 2572711 at /node/2572443/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/dayan-abou-tine%C2%A0">Dayan Abou Tine </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2024-09-23 11:55</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Cement sales in ¶¶Òõ¶ÌÊÓƵ saw an annual increase of 1.8 percent in the second quarter of 2024, reaching 10.85 million tonnes, according to recent data. </p> <p> Figures released by Al-Yamama Cement showed that 95 percent of these sales were domestic, with only 5 percent being exported.    </p> <p> The data covers 17 Saudi cement companies, with Al-Yamama holding the largest share of domestic sales at 12 percent, amounting to 1.28 million tonnes, despite a 7 percent decline during the period. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/09/23/4527241-1534284529.jpg" width="1000" height="667" alt="" title="¶¶Òõ¶ÌÊÓƵ’s cement market is poised for robust growth, thanks to Vision 2030 developments. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/giga-projects">giga-projects</a></div><div class="field-item odd"><a href="/tags/cement">cement</a></div><div class="field-item even"><a href="/tags/cement-industry">cement industry</a></div></div></div> Mon, 23 Sep 2024 09:13:46 +0000 owen.bennett 2572443 at /node/2572324/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0%C2%A0%C2%A0">NOUR EL-SHAERI   </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2024-09-22 13:02</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Several startups across the Middle East and North Africa have secured significant investments, showcasing the region’s growing entrepreneurial ecosystem. <br /> From proptech and fintech to edtech and automotive, early-stage startups are focusing on expansion and technological innovation in both local and international markets. <br /> ¶¶Òõ¶ÌÊÓƵn proptech startup Darent has closed an undisclosed seed funding round, led by Al Tawuniya Insurance. <br /> The round also saw participation from the Morgan Stanley Inclusive Ventures Lab and BIM Ventures. <br /></p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/09/22/4526911-1869434724.jpg" width="1195" height="723" alt="" /></div><div class="field-item odd"><img src="/sites/default/files/2024/09/22/4526914-1170001505.jpg" width="1195" height="723" alt="" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/startups">Startups</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/startups">startups</a></div><div class="field-item odd"><a href="/tags/startup-week">Startup of the Week</a></div><div class="field-item even"><a href="/tags/startup-wrap">Startup Wrap</a></div></div></div> Sun, 22 Sep 2024 10:06:02 +0000 sarah.glubb 2572324 at