RIYADH: Entrepreneurs from two Saudi start-ups will travel to Germany in April to pitch their ideas to potential investors after they won a competition in Riyadh on Saturday.
Ten finalists competed to win the trip to Berlin. They had two minutes to present their business ideas to the German-Saudi business community and a jury of experts, followed by two minutes of follow-up questions.
The winners were Labayh, from Madinah, a project that helps people suffering from family and psychological problems with a mobile app that connects consultants and users; and Lucidya, from Jeddah, a company that aims to help businesses to make smarter decisions by using artificial intelligence and big data.
The start-up competition was organized by the German-Saudi Arabian Liaison Office for Economic Affairs and attended by Princess Joharah bint Talal bin Abdul Aziz Al-Saud as guest of honor.
“We will bring the two winning start-ups to Berlin to showcase promising Saudi start-ups at a very interesting conference, the MENA Business Forum,” Oliver Oehms, delegate of German Industry and Commerce for Saudi Arabia, Bahrain and Yemen, told Arab News.
“Small and medium-sized companies and innovative business ideas are the key drivers of the German economy and a growing sector in Saudi Arabia.”
Dieter Haller, the German ambassador to Saudi Arabia, said: “The Saudi start-up sector is as vital and dynamic as any in Saudi society. We thought we should bring the Saudi and the German start-up scenes together, and one of the most fertile places for start-ups in Berlin.
“I am so happy that the two winning start-ups will be invited to this important conference in Berlin.”
The MENA Business Forum in Berlin is being organized by the Association of German Chambers of Commerce and Industry and the German Chambers of Commerce from the Middle East and North Africa.