Ministry of Investment Saudi Arabia Issues 30 Licenses for International Startups Participating in the Startup Investment Forum 2022

As more than 60 international startup organisations from around the world prepare to arrive in Saudi Arabia for the Startup Investment Forum (SIF), held 21-23 February at the King Salman International Convention Center – Al Madinah, Community Jameel Saudi confirms 30 licenses for international startups participating in the event have now been granted by the Ministry of Investment Saudi Arabia (MISA).

On the sidelines of the MITEF Startup Competition in Saudi and the Arab world, the Startup Investment Forum is a three-day exhibition providing startups worldwide the opportunity to expand their businesses into the Saudi market and meet investors. In collaboration with Community Jameel Saudi, the Ministry facilitates the entry of those startups into the Kingdom, issuing their licenses at a discounted rate and supporting obtaining the Saudi CR after the entrepreneurship license.

Mohammed Alamro, Director of innovation and entrepreneurship, the Ministry of Investment Saudi Arabia, said: "The Startup Investment Forum contributes to achieving an important set of goals through the development and growth of innovative small and medium-sized enterprises. Entrepreneurs and business leaders who seek to expand in the Saudi market through this platform will have the opportunity to receive investment from companies and individuals to expand their business in the Kingdom. By focusing on nurturing entrepreneurship and emerging companies, this platform contributes to achieving economic diversification, sustainability and facilitating investment opportunities in new and growing sectors in alignment with Vision 2030 objectives."

Through the Startup Investment Forum, potential investors will gain insight and understanding into the diverse and vibrant Saudi Arabian entrepreneurial ecosystem, as well as learning about new investment opportunities. Startups will gain unique access to a vast network of investors, business people, and government bodies, each with a keen interest in supporting pioneering and innovative organisations. 

Mohammed Abdulghaffar, General Manager of Entrepreneurship and Humanitarian Initiatives at Community Jameel Saudi said: "This initiative from the Ministry of Investment proves the importance of the Forum and the potential it holds for advancing the ambitions of the Kingdom. Bab Rizq Jameel seeks to strengthen relationships between startups and investors in Saudi Arabia, raise the level of interaction between parties, and forge partnerships between local and international institutions. To that end, the 2022 Startup Investment Forum programme includes an exhibition for more than 60 international startups from different parts of the world and 60 innovative Saudi Startups from MITEF Saudi."

Startups participating in the Startup Investment Forum come from countries around the world, including Egypt, Jordan, Algeria, Poland, Georgia, Greece, Lebanon, United States and the United Kingdom, and come from diverse sectors such as Edutech, Healthtech, and Fintech.

The Startup Investment Forum event will also include workshops presented by leading executives from entities in the Kingdom and the world, business meetings with investors, networking opportunities, and the opportunity to deliver elevator pitches to key investors in the Kingdom.