• Saudi Arabia’s Ministry of Investment launched Startup Saudi, a national initiative to support entrepreneurs, startups, venture capitalists, and ecosystem enablers.
• The program offers tailored services, networking, and resources while working with government, private sector, universities, and R&D centers.
• Enrollment requires startups to be tech-enabled, innovative, aligned with Vision 2030, and ecosystem partners to have proven startup support experience.
  

Startup Saudi

Saudi’s Ministry of Investment announced the launch of ‘Startup Saudi.’ It is a comprehensive national initiative aiming to support the establishment and expansion of entrepreneurial ventures across the Kingdom. 

The program aims to empower local, regional, and global entrepreneurs, startups, venture capitalists (VCs), and ecosystem enablers.  It seeks to help them succeed and grow within the Kingdom, in line with Vision 2030’s goals.

Startup Ecosystem

Startup Saudi aims to empower and elevate the startup ecosystem by offering tailored services and advantages to startups, innovators, VCs, and ecosystem enablers. Furthermore, it seeks to streamline the startup journey, offering guidance, networking, and seamless access to resources. 

It collaborates with enablers including government bodies, private sector players, VCs, universities, and R&D centers. The goal is to remove hurdles and create a supportive regulatory environment.

Its enrolment requirements for startups:

• Technology-enabled
• Innovative business models (products or services)
• Strategically aligned with national vision 
• High potential for growth

Its enrolment requirement for ecosystem enablers and VCs: 

• Proven track record in supporting startups for scalability and enhancing the entrepreneurship ecosystem.
• Clear value added services provided for Startups & Entrepreneurs.
• Established partnership with local key partners is a plus.

For startups, it aims to fast-track their growth and success with targeted support and resources. It also seeks to elevate brands visibility and market presence with tailored promotion strategies to connect with suitable audiences. Additionally, it aims to help startups forge and solidify valuable connections with industry peers, investors, and partners.