During a recent exploration of the Startup landscape in Riyadh in August, 2023, our team had the honor of engaging with His Excellency Eng. Haitham Alohali, Vice Minister at the Ministry of Communications & Information Technology and the team who not only highlighted the benefits of their current strategy but also expressed a keen interest in more enduring solutions.
In an insightful exchange, H.E. Vice Minister pinpointed three distinct profiles of interest:
Inspirational Showcases: Companies with a major goal of coming to Saudi to showcase their innovations and inspire others.
Relocation Seekers: Companies facing stiff competition in the US and actively seeking to relocate.
Expansion Pioneers: Successful companies ready to expand into different regions, recognizing the potential for growth beyond their current scope.
A crucial observation emerged during the conversation: a notable gap exists where US companies might not be fully aware of the emerging Saudi market due to their intense focus on domestic growth. Our team proposed a two-fold approach to address these insights.
Stay tuned as we delve deeper into bridging markets, creating impactful connections, and pioneering a new era of global collaboration in the startup ecosystem.