Saudi Arabia’s Startup Ecosystem to Get a Boost in Healthcare and Logistics
Saudi Arabia is gearing up to revolutionize its rapidly growing startup scene with a focus on the healthcare and logistics industries, as revealed by a top official.
In an exclusive interview with Arab News during Biban 24 in Riyadh, Mohammed Al-Ariefy, the Assistant Deputy Minister of Entrepreneurship at the Ministry of Communications and Information Technology, shared that a series of groundbreaking programs will be introduced at the event in the coming days.
These initiatives aim to equip startups with the necessary resources and opportunities to align with the Kingdom’s vision of leading tech-driven sectors and propelling growth in the digital economy.
“We have exciting programs lined up for Biban focusing on collaborations within logistics and healthcare. One of these is a hackathon dubbed Tech Challenges, which is set to kick off in the next two days at Biban,” Al-Ariefy disclosed.
He emphasized the significance of Biban not just as a platform for launching initiatives or signing agreements, but as a vital component of a thriving ecosystem, commending Monsha’at for their unwavering support in organizing vibrant and dynamic events.
These tech challenges will aim to tackle real-world business obstacles specific to sectors like logistics and healthcare, providing startups the opportunity to develop innovative solutions with the Ministry of Communications and Information Technology’s support.
Al-Ariefy outlined the ministry’s strategic focus on fostering the growth of the technology sector by extending support to both established corporations and nimble startups.
“The technology sector is home to large corporations that are excelling and expanding rapidly, and we are committed to working closely with them,” he stated.
He emphasized the pivotal role startups play in driving economic growth through their agility and speed in scaling operations, contributing significantly to the Kingdom’s GDP and technological advancements.
The ministry’s overarching goal is to enhance the tech sector’s contribution to the economy by maintaining the growth momentum of established entities and nurturing an environment conducive to the success of startups.
Al-Ariefy stressed the importance of startups due to their ability to grow and adapt swiftly, generating employment opportunities and boosting economic output at an accelerated pace.
He highlighted the startup zone at Biban 24, dedicated to supporting and promoting new ventures by facilitating networking opportunities, connecting them with potential investors and clients, and fostering collaborations with other businesses.
The ministry is also committed to driving technological advancements across various sectors such as real estate, finance, healthcare, and sustainable construction by encouraging startups to embrace cutting-edge technologies that are reshaping these industries.
“We are focused on introducing emerging and deep technologies to startups, offering the necessary support for founders to adopt these technologies in sectors like proptech, real estate, healthcare, education, and beyond,” Al-Ariefy concluded.