Saudi ranks third in MENA by startup deals, funding – MAGNiTT

CountrySaudi Arabia

Riyadh – Mubasher: Various economic sectors in Saudi Arabia generate growing interest in startups in implementation of the Kingdom’s Vision 2030, boosting the GCC nation to take the third spot in terms of the number of deals and total funding during 2019, according to a recent report by MAGNiTT, MENA’s most comprehensive startup data platform. Head of Mad'a Investment Company that is specialised in financing and supporting startups, Abdullah A. AlOthaim, said this promising sector shows great diversity in projects. He expected the kingdom to jump to the first or second place in the total number of deals and volume of financing. There is a need to further bolster this sector within a vision that aims to more...