How Saudi Arabia’s Start-up Funding Skyrocketed in 2022
Saudi’s Start-up Ecosystem Today
Saudi Arabia’s start-up ecosystem has grown at an unprecedented pace, from just a few SMEs prior to the launch of Vision 2030, to ground-breaking life-enhancing tech start-ups six years and a pandemic later. In 2022, the Kingdom came in second in the Arab world in total funding value with US$ 1.2 billion of Venture, Corporate and Equity funding going to Saudi startups. Saudi Arabia also came in third in the region for the number of deals (91) signed, behind the UAE and Egypt.
A Quick Climb in Startup Funding
See Graphs: Funding Value by Top 3 MENA Country (excluding Israel), Number of Deals by Top 3 MENA Country (excluding Israel), Sau