Saudi Arabia to bridge the funding gap for promising start-ups
When you ask entrepreneurs in the Middle East what their major pain point is, they will most likely not tell you that it is a lack of ideas, the willingness to execute, or the availability of office spaces. No, they will most likely tell you that it is very difficult to receive funding, which is essential to get their business off the ground and scale nationally and internationally.
Saudi’s Business Incubators and Accelerators Company (BIAC), a subsidiary of Saudi Technology Development and Investment Company (TAQNIA), and VentureSouq, a pan-regional investment platform, have signed a cooperation agreement to tackle this problem in the Kingdom. As part of the agreement, the entities will launch a new investment vehicle within BIAC to bridge this funding gap. Learn more about the initiative here.