Dear friends,
The spring period has been a very busy period for SBJBC and the Saudi UK Tech Hub. Alongside a packed programme for the Business Council, we have hosted innovators, furthered our dialogue on clean technologies, and continued ongoing development of the Tech Hub.
We hope that you find this newsletter helpful and can make use of the opportunities enclosed. Should you require further information on any of the below, please don’t hesitate to reach out to Matt on techhub@sbjbc.org.
Best wishes,
Matt, Chris, and Cordelia
Upcoming Events
Seamless Saudi
Between 4 -5 September, Saudi Payments alongside their partners are hosting Seamless Saudi, the Kingdom’s biggest event covering the latest innovation in payments, fintech, retail, e-commerce, home delivery and digital marketing.
The event in Riyadh will feature a conference with over 450 speakers alongside an exhibition and networking opportunities. For more information on the event, please visit the page linked here.
Fintech Saudi Summer Sessions
Fintech Saudi is hosting it’s annual Summer Sessions. These will start on Tuesday, 4th of July 2023, and weekly over 10-weeks will feature a fintech expert that will give a workshop explaining a different area of the fintech sector in Saudi. To register and find out more, please see the link here.
News
H1 2023 Saudi Venture Capital Report
Magnitt in colaboration with Saudi Venture Capital have released their biannual report on the state of Venture Capital in Saudi Arabia.
The report highlights a number of key developments, topped off by the Kingdom’s rise to becoming the top funded country in the MENA region, rising from third in the previous half year. This is despite that on a yearly basis, when compared to H1 2022, deals retreated by 44% to reach their lowest since H2 2020.
E-commerce and retail continue to be the most funded sectors and four of the top ten investors by transaction were Saudi investors.
To access the full report, follow the link here.
Saudi UK Tech Hub Hosts Session at Innovation Zero
SBJBC was a supporting partner for the inaugural edition of the Innovation Zero climate and cleantech congress in London on 24-25 May.
On the sidelines of the event, we hosted a decarbonising workshop, looking at opportunities for collaboration between the UK and Saudi Arabia in clean technologies. To view a recording of the session, please follow the link here.
The session featured Rubina Singh of Octopus Ventures, Alison Young of the Connected Places Catapult, Noaman Al Adhami of Al Fanar, Abdulaziz Al Jodai of SABIC, and was moderated by Neil Quiliam of SRMG Think! Research and Advisory. We thank them for their participation.
Tech Sectors Participate Across UK Saudi Business, Trade, and Partnership Forum
On 8th June, SBJBC held the Sauid UK Business, Trade, and Partnership Forum at Mansion House in the City of London. Of the over 100 Saudi delegates present, tech sectors were well represented, with senior stakeholders in AI, venture capital, fintech, and policy all in attendance.
In the afternoon, we then hosted a workshop titled “Technology Innovation and Developing the Digital Economy in fintech, e-commerce and cleantech”. Those leading the discussion were Mr. Ziad Al-Yousif, Deputy Governor For Development and Technology of SAMA; Dr Majed Alshammari, Special Advisor for Data Governance of SDAIA; Mr. Nabeel Alnoor, CEO of Graphene Ventures, Andrew Elia, Managing Director of Arishi; Alison Young, Head of Global Investment at Connected Places Catapult; and Hashim Alawadi, Tech Investor and SBJBC Board Member.
To view photos and watch a recording of the sessions, please see the link here.
UAE: RAK Energy Innovation Competition for SMEs and Startups
Our friends at the UAE UK Business Council have shared with us information on the RAK (Ras Al Khaimah) Energy Innovation Competition (SME Edition). This competition will provide a platform for SMEs and start-ups to showcase innovative solutions and connect with key government and industry players in the UAE.
The objective of the competition is to attract leading start-ups and SMEs across the globe to propose their solutions for addressing specific energy challenges in Ras Al Khaimah which are applicable to the broader MENA region.
The deadline for submitting an entry is 14 August 2023 and winners are expected to be announced in Q4 of 2023. Please refer to the competition website for full details of the entry requirements. If you require any further information about the competition, please liaise directly with Ruqiya Shariff at RAK – ruqiya.s@mun.rak.ae
