KSA Innovation Economy - Tech Startups 2017 Report
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Since 2016 the Kingdom of Saudi Arabia is working on numerous economic diversification programs in the aim of lessening its economic dependence on oil.
These economy-boosting initiatives include support systems for fostering innovation and entrepreneurship. This research measures perceptions of Saudi Arabian tech startups regarding the challenges and opportunities facing the entrepreneurial ecosystem. The study aims to highlight the gaps and strengths of the ecosystem by surveying owners of technology and digital startups based and registered in Saudi Arabia, and respondents are all startup founders, co-founders, partners, or employees with equity.-
78% of Saudi startups
raised at least one round of funding - reflecting a robust early-stage ecosystem! -
48% of Saudi entrepreneurs
identified infrastructure as a main strength of the ecosystem. -
24% of Saudi startups
raised funding from angel networks. -
31% of Saudi startups
find it very easy / somewhat easy to attract local business. -
Services received
the most by Saudi tech startups are mentorship and training (33%) and workspace (31%) -
Saudi startups
have high access to tech support: mobile (35%), fixed broadband (29%), and cloud computing (31%).