On the sidelines of the fifth MITEF Saudi Startup Competition, coming in a fully digital version under the patronage of the Ministry of Communications and Information Technology, the Startup Investment Forum will be launched for the second year in a row from March 4 to 6, 2021. The forum is open to all startups from outside the Kingdom of Saudi Arabia. Those would discover the opportunities available in the Saudi market, get to learn about investors, and benefit from the insights and ideas offered by the StartSmart Conference that is held along with the forum.
The forum, which will last for three consecutive days, represents an opportunity to attract regional and international startups to the Kingdom of Saudi Arabia and allow them to present their projects and ideas to a network of investors, businessmen, and governmental agencies. By creating a kind of interaction between existing startups and potential investors, financing opportunities will also be there. In addition to 27 teams qualified for the finals of the MITEF Saudi Startup Competition fifth edition, the Startup Investment Forum will host 23 innovative startups from all around the globe that seek to enter the Saudi market.
On this occasion, Bayan Abdullah Alghamdi, Head of entrepreneurship programs & MITEF Saudi, said: “Through the MITEF Saudi Startup Competition and many of our programs that support the entrepreneurship sector, we do believe in the role startups play in enhancing economic growth. We are, thus, keen to work hand in hand with all public and private entities, such as the Ministry of Communications and Information Technology, the Ministry of Investment and the General Authority for Small and Medium Enterprises (Monsha'at), to support the goals of the Kingdom of Saudi Arabia 2030 Vision and enhance the contribution of small and medium enterprises to the gross domestic product.”
Winners of the MITEF Saudi Startup Competition fifth edition will be announced on March 6, 2021.