The landscape of bold investment in Saudi Arabia has reached new heights in 2023, setting the stage for continued success and the potential rise of leading startups. In light of these developments, a deep dive into the demographic composition of founders behind 200 of Saudi Arabia’s largest startups by venture investment value from 2014 to 2023 was conducted, culminating in the release of a report sponsored by the Saudi Venture Capital Company (SVC).
According to the report, over the past few years, the Saudi venture investment ecosystem has experienced unprecedented growth and dynamism, significantly contributing to shaping the region’s innovation and entrepreneurial scene.
The report delves into the details of 400 founders of the top 200 Saudi startups by venture investment value in the kingdom from 2014 to 2023.
Based on the founding team structures, startups with two founders were the most common (45%) and captured the lion’s share of venture investment value.
While male-founded startups continue to dominate the venture investment landscape, with 91% of the top 200 startups having only male founders, there has been an increase in women-founded and gender-mixed startups, reflecting a growing focus on diversity and inclusion. This trend aligns with global movements toward gender equality in entrepreneurship.
Saudi startup founders come from a diverse range of educational and professional backgrounds. The majority of founders hold at least a bachelor’s degree. While many have been educated at so-called ‘elite’ international institutions such as Harvard and Stanford, a significant number have also graduated from local universities like King Saud University and King Fahd University of Petroleum & Minerals.
In terms of experience, most founders possess a wealth of knowledge in various sectors, particularly in information technology. Interestingly, most founders were seasoned professionals with over 10 years of professional experience, a feat also shared by founders of global startups.
The report also addresses startups among the top 200 in terms of investment value that emerged in the past decade and delves into the founders’ backgrounds. Through the analysis of these founders’ profiles and experiences, stakeholders can gain valuable insights into the key drivers of startup success and identify opportunities for collaboration and growth.
