Saudi entrepreneurs aim to boost quality of life

The event gave the startups a chance to introduce themselves and the services they offer to potential customers before they launch. (Photo/Supplied)
Updated 12 January 2019

Saudi entrepreneurs aim to boost quality of life

  • 17 Saudi startups showcased in Makkah event

MAKKAH: Seventeen startup businesses, the development of which was supported by Saudi investment company Wadi Makkah’s Nomo incubator, were introduced to the public this week during a showcase titled Rabi’ Al-Wadi (The Valley’s Spring).
Each startup organized various activities during the event, which took place on Jan. 9 and 10, reflecting the services they offer, many of which are aimed at families and improving social responsibility. These included workshops, competitions, consultations, lectures and bazaars.
One of the workshops, titled “Be Your Own Beauty Consultant,” offered women between the ages of 18 and 50 advice on choosing the right outfit to achieve the perfect look and introduced them to techniques for successful shopping and closet arrangement. “The Little Robot” workshop, meanwhile, introduced children between the ages of 5 and 14 to robotics. They were shown how to assemble a robot and then given the chance to compete in a robot building contest.
Other activities included support and advice sessions for mothers about raising children, and an introduction to the mechanisms and benefits of the “Economy of Communion,” an international initiative that aims to tackle social problems by creating businesses designed to become integral parts of their communities.
Dr. Talal Al-Maghribi, the acting CEO of Wadi Makkah, said that the event is designed to help startups incubated by Nomo begin to make a lasting contribution to society and, through the workshops and activities presented by qualified professionals, educate people about ways in which they can improve their lifestyles.
“Seventeen of the startups of Wadi Makkah’s incubator have not yet entered the market and will stay in the incubator for 10 more days,” said Al-Maghribi. “The work of some of these startups is focused on community leadership, while others provide Hajj and Umrah services, in addition to consulting firms for workshops, and auto parts.”
He added that the event gave the startups a chance to introduce themselves and the services they offer to potential customers before they launch.
Wadi Makkah begins an incubator program every six months to develop new businesses, Al-Maghribi said, not all of which make it to the market. Of those that do, some have enjoyed remarkable growth, he added.
The successfully launched businesses include one that provides social media analysis services to ministries, and another that analyzes congestion at Saudi airports. Some have also attracted investment from international companies.


Riyadh governor opens high-profile Saudi economic forum

Updated 22 January 2020

Riyadh governor opens high-profile Saudi economic forum

RIYADH: A high-profile conference to tackle some of the main challenges facing the Saudi economy was on Tuesday opened by Riyadh Gov. Prince Faisal bin Bandar.

Speaking at the opening session of the influential three-day Riyadh Economic Forum (REF), the prince praised the Saudi business community for its cooperation with the government in helping to strengthen the country’s economic fortunes.

The ninth edition of the forum, being held under the title “Human-Centered Economy,” will discuss some of the key future economic issues confronting the Kingdom.

Thanking King Salman for his patronage of the event, vice chairman of Riyadh Chamber and chairman of the forum’s board of trustees, Hamad Al-Shuwaier, said important recommendations linked to the Vision 2030 plan would be announced during the gathering.

These would be related to the areas of public finance reform, the nonprofit sector, future jobs, the environment, and reverse migration.

“What distinguishes the forum, which serves as a research center for national issues, is its focus on the principle of dialogue and participation between all concerned, specialized and responsible parties within the economic and social community, by intensifying meetings and promoting participation in all study discussions, with the aim of touching barriers in a close and intensive manner.

“Accurately diagnosing the facts gives accurate results when identifying solutions,” he added.

Special sessions of the forum will aim to generate practical suggestions and solutions to help with economic decision-making and to establish the principle of dialogue and participation among sectors of the business community.

In July 2019, the REF held a panel discussion at the chamber’s Riyadh headquarters on a study detailing the role of balanced economic development in reverse migration and sustainable and comprehensive development in the Kingdom.

Its focus was to identify the obstacles preventing the movement of young workers between towns and big cities, as well as highlighting ways to improve the quality of life in small urban centers through an analytical survey of industrial and service resources in different regions.

Al-Shuwaier noted that the forum was special in bringing together a broad range of intellectual and practical minds from government and private sector organizations covering many fields.

He added that the chamber was working on the final touches to transforming the forum into an independent economic think tank that served national economic issues.

Ajlan Al-Ajlan, chairman of the Riyadh Chamber of Commerce and Industry (RCCI), which organized the event, said the forum’s main objectives included using scientific studies and methodology to identify issues affecting the national economy, analyzing constraints on economic growth and working to combat them by learning from the experiences of other countries.

He pointed out that the forum coincided with the Kingdom’s presidency of the 2020 G20 summit of global leaders, being held in Riyadh in November, and that the eyes of the world would be on Saudi Arabia.

The forum is one of the participants in T20, an official G20 engagement group, with four topics related to important sectors discussed by the group.

The opening ceremony of the REF was followed by a session on future jobs, administered by Education Minister Hamad bin Mohammed Al-Asheikh. Delegates discussed employment requirements linked to the fourth industrial revolution and how to tackle the prospect of 40 percent of jobs becoming obsolete due to mechanization in the farming and industrial sectors.

The session highlighted that education should go hand in hand to prepare students for the jobs of the future.

Forum data showed its previous eight sessions attracted 33,938 attendees, an average of 4,243 participants per session.