Logistics and Healthcare Startups
The first Saudi startup forum is said to be preparing a host of initiatives that are due to fast-track its nascent startup ecosystem, especially focusing on health and logistics sectors, as per a senior government official.
Speaking in Riyadh, Mohammed Al-Ariefy, Assistant Deputy Minister for Entrepreneurship at the Ministry of Communications and Information Technology, announced plans for multiple new programs targeting innovation for startups over the coming days of the event, in a series of initiatives aiming for the Kingdom’s broader prospects for innovation and diversification through technology.
Al-Ariefy said these programs align with Saudi Arabia’s Vision 2030 goals in placing the Kingdom alongside the top countries worldwide in technology-driven industries. Partnerships will be forged in logistics and health care, two of the highlighted industries through which digital transformation and growth will occur. There are some other highlights, including a Tech Challenges hackathon scheduled to begin in the next two days. It will address real-world business challenges of these sectors.
“The tech challenges will bring entrepreneurs and startups to identify the pain points in logistics and healthcare and then create innovative solutions,” explained Al-Ariefy. He also praised the role of Monsha’at, the Saudi Arabian General Authority for Small and Medium Enterprises, in supporting the vibrant startup ecosystem and organizing events such as Biban.
The momentum of big corporations and agile startups must come together to move the Saudi Kingdom’s technology sector forward, Al-Ariefy emphasized. Big tech companies are still doing well while the astronomical increase in the number of startups-in a majority of which have increased hundreds of per cent in just a few years-there is much importance attached to its diversification of the economy of the kingdom. “Startups are important as they possess agility that enables them to go scale up quickly, create employment opportunities and make a notable contribution to the economy,” he said.
More generally, the overall strategy of the Ministry of Communications and Information Technology encompasses support for start-ups in all these fields and many others- including real estate, finance, healthcare, and sustainable construction, to name just a few. Its implementation would assist the government in empowering companies to take charge of their own digital transformation.
Additionally, the zone at Biban 24 is considered a startup zone for new companies, which enables the corporations to communicate with potential investors and partners. This finally entrenches the Kingdom’s position as an innovation and entrepreneurship hub.
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