Individual investors have the biggest stake in Badir incubated startups in the innovation and modern technology field at SR30 million ($8 million), representing 40 percent of the total funding. In the third quarter of 2017 alone, the funding amounted to SR75 million.
The government came in second with financial support to such companies at SR29 million, corresponding to 39 percent of the total, statistics issued recently by Badir Program for Technology Incubators revealed.
The private sector companies released about SR10 million equivalent to 13 percent of the total, while investment funds shelled out about SR6 million to the funding of startups or 8 percent of the total.
Moreover, Badir statistics showed an increase in the technical startups funding deals by venture capital companies, with declared investments in the program’s incubated or graduated companies reaching about SR32 million in the past three months of the current year.
Currently, the number of Badir incubated technical startups increased by 24 percent to reach 158 companies, compared to 127 in the beginning of the same year.
Among the most active sectors for Saudi entrepreneurs, the statistics of Badir program revealed that startups in the field of the Internet of Things, big data, and cooperative economy dominated about 75 percent of the 158 incubated companies.
On the other hand, the biotechnologies companies reached about 16 percent, compared to 9 percent for industrial technologies.
Nawwaf Al-Sahhaf, CEO of Badir Program for Technology Incubators, one of the main programs of KACST, said: “The startups are facing a major difficulty in finding financing in their early stages, while their chances of getting financing in advanced stages are still stable, especially those having promising growth potentials, and at the same time surrounded by high risks.”
He added: “Given the impulse in the activity of business incubators and accelerators, and the increase in the number of startups in the Saudi market, we witnessed in the current year a considerable increase in the number of platforms of collective funding and the networks of individual investors, in addition to the growth in the number of venture capital investment companies, the fact that reassured somehow the Saudi entrepreneurs regarding the new alternatives for providing flexible funding opportunities in order to help them build and develop investment plans.”
Individual investors top financiers of Saudi technical startups
Individual investors top financiers of Saudi technical startups
25,000 attend Social Development Bank’s DeveGO25 forum
The Social Development Bank concluded the second edition of the Entrepreneurship and Modern Business Practices Forum — DeveGo 2025 — announcing the achievement of high-impact outcomes that further reinforced the forum’s position as the largest national platform in the region dedicated to entrepreneurship, innovation, and freelance work in Saudi Arabia and beyond.
The forum witnessed broad participation from local and international experts, investors, entrepreneurs, and representatives of local, regional, and international institutions.
Over three days at the King Abdulaziz International Conference Center, the forum drew 25,000 participants and visitors, who benefited from over 45 specialized workshops and over 2500 advisory sessions delivered by more than 70 consultants and experts.
The sessions covered key areas including entrepreneurial planning, business models, venture capital, digital platforms, freelancing, and emerging technologies.
The forum also featured 20 panel discussions with leading local and international speakers, addressing major global trends in entrepreneurship, including the future of artificial intelligence, the creative economy, digital transformation, and venture investment.
The forum saw the launch of the Saudi Empretec Fellowship, in the presence of Rebeca Grynspan, secretary-general of the UN Conference on Trade and Development.
The partners in success within the Social Responsibility Portfolio supporting entrepreneurs were honored.
It also saw the honoring of 13 winners of the Handicrafts Competition, representing various regions of the Kingdom, the announcement of winners of the Salam Award for Promising Projects, and the recognition of leading entrepreneurial projects fund under the Enterprises Track.
In addition, the NEXT UP Challenge concluded on the third day of the forum with 20 startups presenting their projects to more than 500 investors, enhancing opportunities for networking and partnership building.
As part of efforts to strengthen the support ecosystem, the forum witnessed the signing of 51 agreements, along with the launch of a suite of new financing products. These included the Capital Expansion Product with a ceiling of up to SR10 million, the Payroll Product with a ceiling of SR2 million, and the Rental Product with a ceiling of SR1.5 million, aimed at supporting enterprises in asset development and covering operational costs.
This reflects the bank’s direction toward offering more specialized financing tools that respond effectively to market needs.
The forum concluded by reaffirming its role as a unifying national platform for entrepreneurship, where accompanying activities and events provided direct engagement opportunities between entrepreneurs, investors, and experts.
The forum also highlighted success stories and practical experiences that reflect the scale of entrepreneurial momentum in the Kingdom and the growing role of the Social Development Bank in supporting a national economy driven by innovation and knowledge.
