The First Saudi Startups Forum (SSF) has been concluded today at the Ritz-Carlton Hotel. It is well-known that the Forum was organized by Umm Al-Qura University (UQU), represented in Wadi Makkah Company. The event witnessed the participation of Royal Highnesses and Excellencies, as well as the leaders concerned with achieving the objectives of KSA Vision 2030. During the event, several dialogue sessions on entrepreneurship, innovation and investment in startups sector were held.

‎The sessions started with a speech by Mr. Gregory Fayet, the Keynote Speaker and CEO at Électricité de France (EDF) in Saudi Arabia. He spoke about the best models, practices and scientific studies for startups, entrepreneurship and business sector, in addition to their role in economic development and KSA Vision 2030. In this regard, he cited many successful international experiences and models, and stressed the significance of supporting enterprises emerging by companies with the support of the national economy. This was followed by the launch of the dialogue session held under the title of “business accelerators.” The session witnessed the participation of Mr. Nawaf Attaf Al-Sahaf (CEO at Badir Program for Technology Incubators), Prof. Gordon McConnell (Head of the Entrepreneurship Center in King Abdullah University of Science and Technology, KAUST), Eng. Mohanad Al Nabulsi (Acting CEO of Qotuf AlRiyadah), Eng. Ibraheem Al Zuhimeel (Governor's Advisor General Authority for Small and Medium Enterprises) and Mr. Khalil Al-Shafei (CEO & MD, Aramco Entrepreneurship Center ''Wa'ed''). Within three themes, the participants discussed the criteria used to measure the effectiveness of business accelerators and business incubators, challenges facing business accelerators and the mechanism of integration between business accelerators and business incubators.   

In the following session, Mr. Yousef Hammad, the Keynote Speaker and Managing Partner at BECO Capital, discussed the regulations and legislations considerations for startups and entrepreneurship in Saudi Arabia. He also explained that among the most prominent challenges that faced startups were the legal status, access to finance, the polarization of venture capital (VC) and the financing agreements. The session also discussed investment strategies and VC. It is worth mentioning that it was headed by Mr. Tariq Linjawi, Founder and Chairman at United Consulting Group (UCG). The session also witnessed the participation of Mr. Omar Al-Majdouie (Founding Partner and CEO of Raed Ventures), Dr. Hani Enayah (Head of Investments at Technology Development & Investment Company “TAQNIA”), Mr. Faris Ibrahim Al-Rashed (Founder and Chairman of Oqal Group), Mr. Ihab El Samannoudi (Chairman of Sukoon International Holding Company), Mr. Abdulrahman Tarabzouni (CEO of STV), Dr. Abdulaziz Abdullateef Jazzar (Managing Partner of Malaz Capital), as well as Mr. Ahmed Al Jibreen (Investment Manager at 500 Startups).  

Within the same framework, Dr. Abdullah Adlan, Head of Bioethics Section at King Abdullah International Medical Research Center (KAIMRC), discussed the models of ethics and their applications in a different business environment towards sustainable competitiveness. Moreover, the final session was titled, “The Learning Curve: Experience Sharing and Knowledge Transfer within the Saudi Startups and Entrepreneurs.” The participants in the session included Dr. Fawaz Saad (Co-founder of Tawseel), Eng. Abdullah Asiri (Founder and CEO of Lucidya), Mr. Abdullah Bajri (CEO of Mahabaa), Mr. Farooq Aljeraisy (Founder & CEO of Almosafer.com), as well as Mr. Khalid Suleimani (Moderator of the Session and Senior Partner at Chrome Advisory).  

At the end of the Forum, Dr. Bakri bin Maatouq Assas, UQU President and Chairman of Wadi Makkah Company, honored the speakers, participants, sponsors and organizers.