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Arab News
14 hours ago
- Business
- Arab News
Why tech startups should choose Riyadh as their MENA launchpad
RIYADH: Riyadh is becoming a leading destination for tech startups in the Middle East, fueled by Saudi Arabia's Vision 2030 reforms, an advanced infrastructure, and robust government-backed incentives. The Saudi information and communication technology market is projected to reach $54.90 billion in 2025 and $82.51 billion by 2030 at a compound annual growth rate of 8.49 percent, according to an analysis by Mordor Intelligence. This growth highlights the Kingdom's increasing prominence as a regional innovation hub. At the heart of this transformation is Saudi Arabia's Vision 2030 economic diversification plan, which has placed technology at the forefront of its strategy. Major initiatives, such as NEOM, a $500-billion smart city powered by artificial intelligence and renewable energy, and Riyadh Tech Valley, a dedicated hub for AI, the Internet of Things, and robotics startups, are driving this momentum. Government programs such as the Saudi Unicorns Program and Tech Growth Financing provide critical support for scaling businesses, further cementing Riyadh's appeal. Emmanuel Durou, technology, media and telecommunications leader at Deloitte Middle East, highlighted three key operational factors behind Riyadh's startup success. 'First, Saudi Arabia's advanced digital infrastructure has significantly accelerated startup growth,' he told Arab News in an interview. The 2018 Bankruptcy Law emphasizes debt restructuring over liquidation, providing cash-strapped startups a mechanism to negotiate with creditors early before default. Jasem Al-Anizy, partner in corporate finance at Addleshaw Goddard KSA Government-led digital transformation initiatives have created a robust technological backbone, with 14 percent of Saudi broadband users enjoying speeds over 1G bits per second — far surpassing the 4 percent seen in markets like the UK. 'This infrastructure supports rapid innovation and scaling up,' he added. The second factor, according to Durou, is the Kingdom's strategic focus on developing local talent pipelines. 'As many as 86 percent of Saudi universities now provide undergraduate programs in AI, 56 percent offer master's degrees, and doctoral opportunities stand at 9 percent,' he noted. The Deloitte leader emphasized that institutions like King Abdullah University of Science and Technology play a pivotal role in supplying startups with skilled, technology-ready talent. Lastly, Durou pointed to the Kingdom's supportive business environment, which includes government incentives, substantial funding mechanisms like venture capital and private equity, and vibrant incubator ecosystems such as Garage 46 and Impact 43. He also shed light on the Kingdom's high consumer adoption rates of advanced technologies, particularly Gen AI. Deloitte's recent survey outlined Saudi Arabia's high awareness of the technology at 76 percent, with usage frequencies of 20 percent daily and 32 percent weekly — significantly higher than the UK, he added. When comparing Riyadh's startup scaling environment to Dubai's, Durou observed distinct strengths in each. 'In Riyadh, government-driven initiatives such as Saudi Vision 2030 have significantly streamlined regulatory processes, enabling startups to reduce their time-to-market,' he said, adding that 'extensive support from local incubators, accelerators, and dedicated funding programs serve to further accelerate product development and launch timelines.' Durou noted that customer acquisition costs in Riyadh are comparatively lower, driven by the ongoing surge in digital adoption among consumers and supported by targeted government-backed marketing initiatives. The fintech sector, in particular, benefits from robust governmental support, which helps meet rising local demand. Meanwhile, e-commerce growth is further propelled by high Internet penetration and shifts in consumer behavior. 'Dubai offers rapid market entry facilitated by the globally recognized Dubai International Financial Centre and a mature, efficient regulatory environment. Although high market competition can drive up customer acquisition costs in Dubai, it's balanced by an expansive and diverse customer base,' he explained. Durou highlighted that the DIFC ecosystem offers fintech startups access to government incentives, which greatly enhance their growth prospects. He also emphasized that Dubai's strategic geographic position as a global trade hub, along with its advanced logistics and warehousing capabilities, significantly accelerates the expansion of e-commerce. Jasem Al-Anizy, partner in corporate finance at Addleshaw Goddard KSA, shed light on the legal structures that are proving effective in the Kingdom. 'Saudi startups have historically preferred an offshore ring-fencing of intellectual property assets by holding and protecting intellectual property interests in a standalone sister company based in an offshore jurisdiction,' he explained to Arab News. 'This has helped startups in scaling globally and simplifies exit strategies,' Al-Anizy said. Government-driven initiatives have significantly streamlined regulatory processes, enabling startups to reduce their time-to-market. Emmanuel Durou, technology, media and telecommunications leader at Deloitte Middle East However, with stronger business and intellectual property laws, there is increasing trust in local company structures like the Simplified Closed Joint Stock Co. Al-Anizy also highlighted the advantages of Riyadh's bankruptcy laws for tech startups facing liquidity challenges. The 2018 Bankruptcy Law emphasizes debt restructuring over liquidation, providing cash-strapped startups a mechanism to negotiate with creditors early before default, he said. The law was introduced to provide guidance on the adoption and implementation of bankruptcy proceedings. Despite its name, the primary objective of the Bankruptcy Law is not liquidation but rather the rescue of insolvent businesses through reorganization and financial restructuring. Al-Anizy said that this sophisticated regime demonstrated in recent large-scale restructurings, has garnered recognition from founders and investors alike. On the dispute side, mediation and the Saudi Center for Commercial Arbitration are becoming preferred avenues for resolution. For foreign founders setting up their MENA Headquarters in Riyadh, Al-Anizy stressed the importance of clear contractual considerations. 'Founders having an unclear picture of their share cap table, equity vesting, or the conversion of any issued SAFE/KISS notes is an easily avoidable way to lose investor confidence,' he warned. A Simple Agreement for Future Equity is an investment instrument that allows startups to raise capital without immediately determining a valuation, converting it into equity upon a future-priced round or liquidity event. Similarly, a Keep It Simple Security operates as either a convertible note or a SAFE-like agreement, offering standardized terms for early-stage funding. Both are designed to streamline early investments while deferring valuation discussions, but founders must track their terms, such as discount rates, valuation caps, and conversion triggers, to maintain transparency with investors. Al-Anizy also advised explicit contractual clauses to ensure intellectual property rights are clearly vested in the company, safeguarding the business and maintaining investor trust. Riyadh has become a magnet for multinational corporations, with around 600 foreign companies establishing their regional headquarters in the city since the launch of the Saudi Program for Attracting Regional Headquarters in 2021. Spearheaded by the Ministry of Investment and the Royal Commission for Riyadh City, this initiative is a cornerstone of Vision 2030's goal to position Saudi Arabia as a global business hub. The program offers compelling incentives, including a 30-year tax relief package with 0 percent corporate and withholding taxes, streamlined setup processes, and access to world-class infrastructure. Riyadh's strategic location at the crossroads of Asia, Africa, and Europe, combined with its skilled workforce and economic stability, has made it the top choice for multinationals looking to expand in the region. Riyadh's appeal is further bolstered by business-friendly policies, including 100 percent foreign ownership in key sectors, tax incentives, and streamlined licensing through the Saudi Business Center. Startups also benefit from partnerships with major corporations like Aramco and STC, as well as accelerator programs from Flat6Labs and 500 Global. With a population of 36 million and the largest economy in the Middle East and North Africa, Saudi Arabia offers startups access to a high-spending consumer base and a gateway to regional expansion. The Kingdom's advancements in technology were recognized in the 2024 Global Innovation Index, where it secured the 47th spot among 132 countries. Events such as the LEAP Tech Conference and Riyadh Season continue to draw global investors, while local success stories — from Tamara, Saudi Arabia's first fintech unicorn delivering payments and banking, to Salla, an e-commerce platform empowering SMEs with digital storefronts — demonstrate Riyadh's potential as a launchpad for high-growth companies.
Bloomberg
3 days ago
- Business
- Bloomberg
Billionaire Dai to Reap $237 Million Windfall From Qualcomm Deal
Weili Dai has built a career helping turn tech startup after tech startup into successful ventures. The serial entrepreneur is now poised to pocket a windfall from one of them: $237 million from the pending sale of Alphawave IP Group Plc to Qualcomm Inc. Dai holds a 96.3 million-share stake in the London-listed semiconductor firm, making her its second-largest shareholder. Qualcomm agreed earlier this month to buy Alphawave for about $2.4 billion in cash, in a deal expected to close in the first quarter of next year.
Times
13-06-2025
- Business
- Times
From dancing robots to DeepSeek, the university helping China to win tech race
A s it grows in economic and geopolitical might, China likes to find heroes, whether exemplary communists, successful businessmen or Olympic gold medallists. Its latest is a university. Twenty years ago, the sweeping campus of Zhejiang University in China's one-time capital Hangzhou would not feature in any lists of top international seats of learning. Even now, when it ranks among the world's best, it would probably elicit the reaction 'Where?' from most people outside China. But as of this year that has changed, thanks to a legion of earnest young tech entrepreneurs — they can reasonably be called nerds — like Liu Chang and Sean Pan. Zhejiang University campus in Hangzhou ALAMY Zhejiang has won the nickname locally as the 'mother of little dragons' — new tech start-ups like the AI company DeepSeek that are taking the world by storm. And there are more dragons on their way, if Chang and Pan have their way.
Entrepreneur
13-06-2025
- Business
- Entrepreneur
Entrepreneur UK's London 100: NetMind AI
Industry: Artificial Intelligence is a decentralised GPU computing platform and ecosystem designed to accelerate AI development. CEO Kai Zou founded in 2021 after recognising a gap in the market for affordable GPUs that could support his team's AI research. Compute power has been steadily centralised by cloud giants like Amazon and Microsoft, whose costs and closed infrastructures proved a major obstacle for smaller research groups and companies. represents a paradigmatic shift away from a Silicon Valley-centric AI ecosystem, bringing innovation to the UK and wider Europe to maintain a global technological edge. Kai believes the region has outstanding potential thanks to its world-renowned educational institutions, but has thus far been hamstrung by the lack of opportunities for talent to shine in an underdeveloped AI sector. With he encourages everyone to participate in innovation by giving them the tools to expand AI's use cases.
Yahoo
09-06-2025
- Health
- Yahoo
HealthX Intelligence Conference 2025: The Premier Event for Healthcare Professionals Looking to Stay at the Cutting Edge of Technology (London, United Kingdom - September 17-18, 2025)
Dublin, June 09, 2025 (GLOBE NEWSWIRE) -- The "HealthX Intelligence 2025" conference has been added to offering. The HealthX Intelligence 2025 conference is the premier event for healthcare professionals looking to stay at the cutting edge of technology. This two-day event features keynote speakers from top technology companies, hospitals & healthcare providers, pharmaceutical companies, investors, government agencies, and tech start-ups and the event will provide attendees with an immersive experience that explores how artificial intelligence, automation, machine learning and data analytics can be used to revolutionize healthcare delivery and patient care. From emerging technologies to successful implementations, this unique conference provides valuable insights into current trends in healthcare innovation. Participants will have the opportunity to explore various case studies, present their research findings, interact with experts in the field, and develop new collaborations. Additionally, they can learn about emerging technologies that could potentially revolutionize healthcare delivery systems in the years ahead. With HealthX Intelligence 2025, you'll have the knowledge and tools to ensure that your organization is well-prepared for what lies ahead in the world of healthcare. Join us to experience the possibilities for Healthcare Innovation in 2025 and beyond. KEY DISCUSSIONS WE'LL BE EXPLORING Digital Health Adoption & Implementation Strategies Artificial intelligence (AI) in health systems Machine learning and deep learning applications Health Data analytics and predictive modelling Utilizing Big Data for More Effective Population Health Management Cloud Technologies Automation and robotics in healthcare delivery Intelligent medical devices and wearable technology Electronic health records (EHR) and healthcare information systems Telemedicine and remote patient monitoring Clinical decision support systems Natural language processing (NLP) and voice recognition in healthcare Health data privacy and security in the age of automation Patient engagement and personalized medicine Healthcare process optimization and workflow automation Internet of Medical Things (IoMT) and connected healthcare Blockchain applications in healthcare Integrated Care Platforms Ethical and regulatory considerations in healthcare automation Digital Leadership Impact of Technology in Home Healthcare Who Should Attend: Healthcare Professionals Technology Experts Healthcare Providers Investors & Government Agencies Tech Startups Researchers in Artificial Intelligence and Automation Data Analysts & Analytics Specialists Clinical Managers & Administrators Wearable Technology Developers IT Professionals Working With Big Data Robotics Engineers Medical Device Manufacturers Entrepreneurs Pursuing Innovative Solutions in the Healthcare Industry For more information about this conference visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
