October 25th, 2015, Dubai, UAE – Today, His Royal Highness Prince Dr. Turki bin Saud bin Mohammed Al Saud addressed the participants of the MENA Private Equity and Venture Capital Summit in Riyadh. The Prince gave a highly informative and engaging presentation on venture capital in Saudi Arabia to an exclusive gathering of over 250 private equity and venture capital professionals and stakeholders from across the world.
HRH Prince Turki is the President of King Abdulaziz City of Science and Technology, and has successfully held a number of high-profile roles within the Kingdom in the realms of business, science, academics and governance. The topic of His Highness’s presentation is timely and relevant, coming as it does at a time when Saudi Arabia has become a regional powerhouse in terms of outbound investment, and is rapidly developing its own healthy internal investment ecosystem.
His Royal Highness remarked “Saudi VC industry has a sizeable potential as there are many strengths in the ecosystem and current innovation relevant rankings and statistics imply that innovation will grow in the Kingdom”.
HRH Prince Turki’s comments highlight the Saudi government’s recent focus on investment, evident both in the recent rise of Saudi investment funds being deployed in foreign markets, and in the government’s active engagement in supporting local entrepreneurs. The Kingdom’s investments into sectors like healthcare, ICT, and renewable energy are unmatched by all but a few other nations. The government is responsible for 50% of the Kingdom’s startup incubators, through which it provides aspiring young business owners with not only funding, but also necessary counseling and expertise.
The government’s active support of entrepreneurship and investment makes Saudi Arabia the ideal setting for the MENA Private Equity and Venture Capital Summit, organized by Riyadh Valley Company (RVC) and managed by multinational deal facilitation company Naseba. The summit is an event designed to introduce investors and venture capitalists based in the Middle East to some of the world’s most promising business cases through private, one-to-one meetings. Business cases are given the chance to secure funding for their projects, and investors are introduced to investment prospects that have been pre-screened for viability and legitimacy.
Additionally, the summit organized by Riyadh Valley Company and managed by Naseba features extensive networking opportunities, and a series of speeches and presentations from distinguished thought leaders. These leaders draw on their considerable expertise to shed light on topics ranging from accessing the best investment opportunities to developing the Middle East as a hotbed for venture capital.
HRH Prince Turki’s speech has set a high bar for other presentations and panel discussions at the summit, giving participants a great deal to look forward to over the next two days.
Jean Philippe, Project Director at Naseba remarked “The summit bridges the gap between entrepreneurs, investors, financiers and legislators and is specifically tailored for this region. GCC countries are nations of prosperity and opportunity, with unique benefits and challenges. The MENA Private Equity and Venture Capital Summit has been designed to provide private equity and venture capitalists from the GCC with best-in-class methodologies to help them enhance their investment strategic planning and performance management. Naseba is proud to work with Riyadh Valley Company to create this ultimate deal flow platform.”
**Please note, Thumbay Group, Gulf Medical University, and HEALTH magazine are not liable nor responsible for the facts, figures, and overall content of the press releases on our portal.
