Saudi startup outlook to be explored at LEAP2023 

The Kingdom is planning to invest more than $25 billion to expand the technology ecosystem. (AN photo/Huda Bashatah)
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Updated 12 February 2023
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Saudi startup outlook to be explored at LEAP2023 

RIYADH: Unique challenges that startups in the Kingdom face when trying to secure funding will be the subject of a panel discussion on the final day of the LEAP 2023 conference on Thursday.

“The Road to Success: The Journey of Saudi Pre-seeds Starting to Get Funded” will also explore the outlook for startups in Saudi Arabia over the next five years.

Elina Idrisova, regional director of Digital Transformation, who will be part of the panel, told Arab News that the sessions will be about “how government is supporting these initiatives in order to accelerate the transformation and technology adoption.” 

Successful Saudi software startup Elevatus will be included in the discussion. 

Idrisova said that accelerators in Saudi Arabia are actively supporting and mentoring early-stage startups to help secure funding.

The Kingdom is planning to invest more than $25 billion to expand the technology ecosystem, the regional director said.

She said that the session will also discuss ways Saudi startups can attract global investors and scale worldwide.

“I also want to highlight the exceptional support of accelerators and programs such as Venture Studios and different university research centers, which help startups to get more deep research and to understand the market well, to get to know how to conduct the right assessments and to create the product that’s really needed by the market,” she said. 
 


Foreign ministers chair Saudi-Omani coordination council meeting in Muscat

Updated 23 December 2025
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Foreign ministers chair Saudi-Omani coordination council meeting in Muscat

MUSCAT: Saudi Foreign Minister Prince Faisal bin Farhan met with Oman’s Foreign Minister Sayyid Badr bin Hamad Al-Busaidi on Monday.

They reviewed bilateral relations between their nations and ways to enhance and develop them across various fields. Additionally, they discussed regional and international developments.

The ministers co-chaired the third meeting of the Saudi-Omani Coordination Council in the Omani capital, Muscat, with the participation of the heads of the Council’s subsidiary committees and the two heads of the Council’s General Secretariat teams.

The meeting comes as an affirmation of the keenness of Saudi and Omani leaders to strengthen ties and advance them toward greater prosperity for both nations.

In his remarks during the meeting, Prince Faisal affirmed that gathering builds on the previous council meeting, held last year in AlUla, and on its positive and fruitful outcomes within the framework of the approved recommendations and initiatives. 

He stressed the importance of continuing the work of the council’s subsidiary committees to complete the necessary procedures to implement the remaining initiatives, and of the General Secretariat’s role in follow-up and in addressing any challenges that may hinder implementation.

He also underscored the importance of developing and enhancing trade relations, stimulating investment, and strengthening cooperation between the public and private sectors.

He also praised the ongoing work to establish and launch the Coordination Council’s electronic platform, which aims to connect all committee work and initiatives to facilitate follow-up on the Council’s progress. 

Al-Busaidi affirmed in his remarks the qualitative progress in relations between the two countries and the notable development witnessed across numerous sectors toward achieving economic integration and enhancing intra-trade and joint investments. 

The Omani foreign minister also highlighted deeper cooperation in the security and judicial fields, as well as the cultural and tourism sectors, noting the advanced and continuous political cooperation, consultation, and coordination on regional and international issues.