NIKOLAY DENISOV
AngelsDeck Global Ventures co-founder, Head of AngelsDeck Dubai
What industries in SAUDI ARABIA do you find the most promising?
In Saudi Arabia's growing startup world, certain fields are really taking off, offering chances for new ideas and investments that could shape the country's future:
- E-commerce and Fintech: These sectors are experiencing a surge in activity, attracting significant investment and funding. Similar to the rapid growth seen in neighboring UAE, they are garnering considerable attention from both investors and entrepreneurs.
- Healthcare and Well-being: There's a big demand for good healthcare and ways to live healthier lives. With the government pushing to improve health across the nation, there's a great opportunity for new ideas and businesses in healthcare and well-being.
- Food Security and Logistics: Given Saudi Arabia's strategic geographical location and ambitious economic aspirations, food security and logistics emerge as critical focal points for domestic and regional stability. The development of robust logistics infrastructure not only strengthens internal supply chains but also positions the Kingdom as a global nexus for trade and transportation.
- Artificial Intelligence (AI): Leading the charge in technological innovation, AI offers vast opportunities for growth within Saudi Arabia. With a strategic emphasis on cultivating indigenous AI solutions and infrastructure, the Kingdom aims to assert its leadership in the regional and global AI landscape, paving the way for pioneering ventures.
Associated factors such as the government's active participation in creating favorable conditions for venture investments, the presence of local and foreign investors, and the opening of branches of international funds and accelerators in Saudi Arabia only underscore the potential of these sectors. Thus, the active development of the local venture ecosystem and the focus on innovation can contribute to rapid advancement in these and other business areas in the region.