RIYADH: Female entrepreneurship in Saudi Arabia was the focus of a panel discussion called “Empower Me”, hosted by the Atlantic Council Middle East Initiatives in Riyadh on Wednesday.
Speakers included Amal Dokhan, managing partner at MENA 500 Global and one of the Kingdom’s first female venture capitalists, along with Wafa Obaidat, founder and CEO of edtech company Playbook, and Afnan Ababtain, director of innovation and entrepreneurship at the Ministry of Investment of Saudi Arabia.
The panel discussion was moderated by Noor Nugali, deputy editor-in-chief at Arab News.
For the third year running, the Atlantic Council’s Women Innovators Fellowship brings together a group of pioneering female Saudi entrepreneurs for a year-long program designed to enhance their business skills and expand their regional and international networks.
The 20 inspirational business leaders selected for the 2024-25 cohort represent diverse sectors such as technology, climate sustainability and healthcare.
In a virtual address, US Ambassador to Saudi Arabia Michael Ratney said: “I want to first recognize our partner, the Atlantic Council, for their leadership in implementing this fellowship. I also want to thank all those involved for their invaluable support. Without you, this fellowship would not exist.”
The panel discussion began with a question about the role of female entrepreneurs in advancing Saudi Arabia’s economic conditions and their alignment with Vision 2030.
Ababtain said: “We are seeing women contributing significantly to small and medium enterprises. Since Monshaat started operations in 2016, the participation of women has increased from 21 percent to over 45 percent.”
Dokhan encouraged aspiring female entrepreneurs to take the leap: “If you have a business idea, don’t hesitate to apply to MENA 500 Global. Remember, rejection is part of the process. Others have succeeded, and so can you. The investments are there — Saudi Arabia is backing many funds, and venture capitalists are excited about technology.”
Reflecting on her journey with Playbook, Obaidat said: “I found myself frustrated within traditional business networks that lacked real opportunities for engagement. It’s disheartening to see that while girls excel academically, less than 2 percent of VC funding goes to women, and fewer than 10 percent reach C-level positions.”
She emphasized the importance of creating a supportive environment: “Playbook was born from the need to discuss strategies for advancing in business and normalizing female leadership.”
Since its inception, Playbook has attracted over 6,000 members, with 15 percent in C-level positions and 10 percent as female founders.
“We’ve raised over $1.5 million in pre-seed and seed funding, and our goal is to empower more women to navigate the complexities of the professional world,” said Obaidat.
The discussion panel was hosted by the Atlantic Council in partnership with the American Chamber of Commerce, the US Embassy in Saudi Arabia and PepsiCo. The session can be viewed at https://www.atlanticcouncil.org/event/the-state-of-women-entrepreneurshi...
