Tech companies drive start-up surge into Saudi Arabia

SourceArabian Business
CountrySaudi Arabia

Tech companies are driving the influx of start-ups into Saudi Arabia, according to Muhammed Mekki, the co-founder of AstroLabs, which has been developing the digital ecosystem in the Middle East for the last seven years. To date, AstroLabs has helped over 60 companies enter the Saudi market, with a combined value of over $5 billion. AstroLabs co-founder highlights 'exciting growth' in Gulf kingdom as it looks to enhance its digital ecosystem Mekki told Arabian Business that 55 percent of those companies have been tech or tech-driven entities. “That’s reflected by a variety of underlying industries, whether it’s fintech, real estate, different types of companies but the tech-driven ones are the most prevalent,” he said. This is followed by media and communications “Over 20 percent of the companies that we’ve set up have been in more...