The Evolution of Saudi Arabia's Startup Ecosystem 2023


Over the past few years, the Saudi entrepreneurial ecosystem has undergone a transformational leap due to the unprecedented support from regulators, investors, and startup founders who together established an unshakeable triplicity that placed the local innovation scene on the map. . In 2022, $750 million of venture funding went into local home-grown startups. When we consider PE funding and Corporate Funding rounds on top of venture, Saudi-born startups garnered nearly $1.2 billion in funding altogether in 2022. The Evolution of Saudi Arabia's Startup Ecosystem report provides a 360 overview of the local startup ecosystem, highlighting some startup success stories and revealing the point of view of the active investors that see it all.