Innovation growth through venture capital is now central to Saudi Arabia’s national development strategy. The Kingdom is moving fast to support entrepreneurs, build new sectors, and promote global competitiveness.
At the recent Human Capabilities Initiative in Riyadh, venture leaders gathered to share insights. Nabeel Koshak, CEO of Saudi venture capital, explained how his firm has backed 56 investment funds. These funds target multiple stages and sectors, helping drive innovation and economic diversification.
Koshak praised Classera, a Saudi-born education tech company with over 50 million users in 40 countries. This success shows how innovation growth through venture capital empowers startups to reach international markets.
He also pointed out that global companies now choose Saudi Arabia to expand operations. This shift proves the country’s growing influence in the tech and startup space.
The panel also featured Dong-Su Kim of LG Technology Ventures. He shared how his firm funds startups and supports them with expert guidance. According to Kim, mentoring and corporate partnerships are essential for sustainable growth.
Jonathan Ortmans, head of the Global Entrepreneurship Network, added a global perspective. He noted that young founders care deeply about social impact, not just profit. Over 100,000 startups joined their global competition.
Ortmans also discussed AI’s role in innovation. He said that while AI processes past data, entrepreneurs shape the future through bold ideas. That’s why innovation growth through venture capital remains essential for progress.
Saudi Arabia’s startup ecosystem is evolving fast. With bold investment and clear vision, the Kingdom is becoming a leader in global entrepreneurship.
