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In its final ceremony, the 2024 StartSmart Entrepreneurship Competition concluded its 8th edition by announcing the top 9 winners in its three tracks. The announcement was made during the StartSmart Forum 2024, held at the Hilton Hotel in Jeddah on October 22nd and 23rd. The forum was held through the support of the Community Jameel Foundation, organized by Bab Rizq Jameel Company, and by leveraging the foundation’s membership in the Abdul Latif Jameel World Education Lab (J-WEL) network at MIT. Notably, the forum was distinguished by multiple partnerships with various entrepreneurship-focused organizations, from the public, private, and non-profit sectors.

The StartSmart Forum 2024 featured several unique activities aimed at enriching the local entrepreneurship ecosystem, including hosting expert speakers in panel discussions, organizing workshops to train entrepreneurs on the necessary knowledge and skills for success, and offering consulting sessions for entrepreneurs seeking mentorship and guidance. Additionally, an exhibition hosted around 50 startups of those benefiting from the Community Jameel Foundation’s services, to showcase their products and services. Concurrently with the forum’s activities, the Falak for Angels Investor Network, under the sponsorship of the Community Jameel Foundation, organized the Startup Investment Forum, which brought together top investors and startups to facilitate networking and to create a conduit for promising investment opportunities.

Key stakeholders of the entrepreneurship ecosystem participated in the fourm, including the Ministry of Environment, Water, and Agriculture; the General Authority for Small and Medium Enterprises (Monsha’at), the National Information Technology Development Program, the Social Development Bank, Abdul Latif Jameel Finance Company, and several prominent universities and coworking spaces. A notable participant at the forum was the Savola World Foundation, which sponsored the awards for the Environmental Track winners and offered an incubation program to turn their ideas into competitive market projects.

At the final ceremony of the forum, the competition organizers announced the winners of the three tracks. In the Startup Track, Link Social Network won first place, followed by Talents Arena in second place, and Smart Methods in third place. In the Social Enterprise Track, Fahman App took first place, with Ecopallets and Business Nokhbah placing second and third, respectively. In the Environmental Track, EcoStream claimed first place, followed by Portable Power Station Using Second-life Batteries in second and Nakhlawy in third. The total prize pool for all winners amounted to SAR 360,000.

Commenting on the conclusion of the forum and competition, Mr. Hussein Jameel, the Vice President of Bab Rizq Jameel, emphasized the competition’s role in supporting economic development, stating: “The participants in the StartSmart 2024 Competition have proven that Saudi youth possess the creative mindset needed to shape the future. We are confident that these projects will achieve great success and contribute to building a diverse and sustainable economy for the Kingdom God, willing.” Mr. Mohammed Abdulghaffar, the Senior General Manager of Entrepreneurship and Social Initiatives at Community Jameel, added: “As we have seen with the winning projects of previous editions, we expect this year’s winners to compete on the global scale, and serve as an inspiration for more youths to enter the world of entrepreneurship.”

It is noteworthy that Savola World Foundation provided the awards for the Environmental Track winners. Dr. Bandar Arab, the Executive Director of Savola World Foundation, remarked: “We are proud to present the awards for the environment track ventures, as it aligns with our strategic focus on promoting innovation in environmental sustainability projects, particularly in managing waste and food resources. We are committed to supporting the SME sector, a key pillar of both developing and advanced economies. We extend our gratitude to all participants and organizers of this pioneering competition, and we look forward to witnessing the positive impact of social investment in these innovative environmental projects.”

The StartSmart Competition aligns closely with the goals of Saudi Vision 2030, aiming to increase the contribution of SMEs to the national GDP, promote a culture of innovation and entrepreneurship, combat unemployment, and diversify the national economy. Since its inception in 2016, the competition has supported the establishment of over 120 companies, provided advanced training to more than 8,750 entrepreneurs by top business experts in Saudi Arabia, and facilitated mentorship, individualized mentorship sessions, media exposure, and networking opportunities with investors, business incubators, and senior leaders from the private and public sectors.