Startups

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MENA startups raise fresh capital as governments advance ecosystem reforms - Arab News

Arab News News · Feb 14 · Funding Ecosystem

MENA startups have raised new capital as regional governments implement ecosystem reforms. These reforms aim to improve the business environment and attract further investment. The funding will support growth and innovation in the region's startup sector. Why it matters: This trend signals increasing confidence in the MENA startup ecosystem and its potential for economic diversification.

TAQADAM Startup Accelerator funds seven promising startups

KAUST · Oct 2 · Funding Partnership

The 2018 TAQADAM Accelerator Showcase, a partnership between KAUST and SABB, awarded SAR 2.25 million in follow-on funding to winning startups. 24 startup graduates from 11 universities in Saudi Arabia participated, each having received SAR 75,000 in initial grant funding. Winning startups included Wayakit, with an instant laundry spray, and EDAMA Organic Solutions, focused on converting organic waste into soil conditioners. Why it matters: This accelerator program highlights the growing focus on deep tech innovation and entrepreneurship within Saudi Arabia's research and business ecosystems.