Technology startups incubated by the Badir Program, one of the main initiatives of King Abdulaziz City for Science and Technology (KACST), have successfully raised more than SR48 million ($12.79 million) during the year 2017.
This was through 15 funding deals led by supporting venture capital firms, individual investors’ networks and governmental institutions, recording a 64 percent increase in comparison with the previous year.
Funding by venture capital firms amounted to SR34.5 million approximately, which was divided into five startups. Individual investors funded eight companies with SR11.89 million, while funding by the Social Development Bank reached SR1.9 million approximately in the form of loans presented for the benefit of two startups.
As a result of the “Demo Day” event organized by the Badir Program three times a year for the purpose of joining startups with investors, the concluded deals amounted to half of the number of investment funding deals after announcing eight deals amounting to SR12.4 million approximately. Seven deals were concluded outside the competitive enterprises showcase with an overall value of SR35.8 million approximately.
It is likely that the overall size of investment funding of startups will increase after disclosing the results of the third edition of the “Demo Day” event, which was held last month.
“Demo Day” aims at presenting, studying and facilitating the funding of promising investment opportunities among the technology startups incubated by Badir.
Nawaf Al-Sahhaf, CEO of the Badir Program for Technology Incubators, said that several factors have contributed in increasing the size of funding this year, namely the rise in the number of funding and risk investment companies, lending platforms and individual investor networks, which have become increasingly active recently.
“Disclosing the deals of funding startups will result in raising awareness and transparency in relation to the funding environment within the local market, especially with the persistence of the funding gap affecting and hindering the companies in turning from an emerging company to complete commercial businesses capable of attracting investment capitals,” he said.
“We look forward to supporting startups which have the basic factors that enable them to make quantitative changes in the main technology sectors,” Al-Sahhaf added.
Saudi tech startups raise over $12.79m in 2017
Saudi tech startups raise over $12.79m in 2017
Schneider Electric launches academy in Saudi Arabia to build future-ready talent
Schneider Electric has announced the launch of the Energy Tech Academy Middle East and Africa in Saudi Arabia, a regional capability platform dedicated to skilling, upskilling, and knowledge sharing.
The launch comes at a critical moment as the Kingdom accelerates energy transition, industrial localization, and human capability development under Vision 2030. The academy reinforces the Kingdom’s leadership role in building future-ready talent while supporting industrial and energy transformation across the wider Middle East and Africa region.
The Energy Tech Academy Middle East and Africa is not a traditional training center; it is a regional platform translating Schneider Electric’s global energy technology expertise into applied capability for Saudi Arabia and the broader region. Anchored in Riyadh, the academy is designed to serve as a benchmark for skills development and enablement across the MEA.
The launch reflects Schneider Electric’s long-term commitment to investing in people and capabilities, and to supporting national priorities across energy, industry, and digital infrastructure.
Mohamed Shaheen, cluster president of Schneider Electric Saudi Arabia and Yemen, said: “This launch reflects our long-term commitment to Saudi Arabia and to building capability that lasts. After more than 40 years in the Kingdom, we continue to invest where impact matters most: in people. Launching the Energy Tech Academy Middle East and Africa from Riyadh underscores our belief that sustainable transformation is built on local capability and trusted partnerships.”
The academy directly supports Saudi Arabia’s focus on human capability development, localization, and Saudi-made outcomes by enabling the skills behind advanced energy systems, industrial automation, and digital infrastructure. Capabilities developed through the academy will support Saudi manufacturing, national projects, and resilient supply chains, while also strengthening regional industrial ecosystems.
“The Energy Tech Academy Middle East and Africa is designed to enable real outcomes,” said Walid Sheta, zone president for the MEA at Schneider Electric. “By equipping talent with future-ready skills across electrification, automation, and digital intelligence, we are strengthening Saudi and regional capability to design, operate, and lead the energy and industrial systems of the future.”
The launch event in Riyadh brought together senior government representatives, industry partners, customers, and Schneider Electric’s leadership, highlighting the importance of cross-sector collaboration in aligning education, skills development, and labor market needs.
Designed as a long-term platform, the Energy Tech Academy Middle East and Africa will continue to evolve through partnerships, programs, and continuous capability development, reinforcing Saudi Arabia’s role as a regional hub for skills, knowledge, and industrial enablement.
