Insights, reports and interviews from the Mena region
The number of entrepreneurship support organizations in the KSA has nearly tripled, growing from 13 between 2006 and 2010, to 36 between 2011 and 2015
Funds constitute about 30% of support organizations in KSA
Most of the funds offer between $0.1 million and $2 million in the seed stage for around 10 percent to 20 percent equity stake
Support organizations are located in Saudi Arabia’s four major cities: Riyadh (54%), Jeddah (29%), Eastern province (10%) and Makkah and Thuwal (8%)
Total number of fintech startups launched in MENA: 46 (in 2013) 105 (in 2015) 250 (expected 2020)
Fintech startups raised $100M in 10 years, plan to raise $50M in 2017
4 in 5 fintech startups have 1 or more co-founder with professional experience in financial services
44% of startups partner with corporations, another 44% seek to establish partnerships in future
43% of the startups interviewed in this study are self funded and fewer than 30% obtained VC or angel funding.
More cleantech startups launched in MENA during the last 2 years than in the 6 years before
90% of MENA's cleantech startups were created in the last 5 years.
90% of entrepreneurs plan to hire in the next 1-2 years
60% of entrepreneurs are satisfied with their local talent pool
53% of the surveyed workforce is willing to work for a lower salary if their employer provides equity in return
Companies need to identify their strategic objectives from startup collaborations.
Startup engagement models need a multi-stakeholder impact measurement framework.