By: Luciana Rhodes
Led by His Royal Highness Prince Fahad bin Mansour bin Nasser bin Abdulaziz Al Saud, the Kingdom of Saudi Arabia’s delegation made a strong entry into Brazil for the Startup20 Summit. Officially partnered with NEOM, the cutting-edge project aimed at reshaping the future of living and entrepreneurship, the Saudi delegation has positioned itself at the heart of this prominent event, held in São Paulo from September 9 to 13, 2024. The summit offers a platform for entrepreneurship, investment, and innovation within the G20 nations, presenting a vital opportunity for Saudi Arabia to strengthen ties with Brazil and the wider international community.
As part of the summit’s focus on fostering global collaboration, particularly in entrepreneurship and investment, Saudi Arabia’s participation underscores the Kingdom’s intent to support innovation-driven startups. Prince Fahad, who leads the Saudi delegation, emphasized the importance of the event for both Saudi Arabia and the global entrepreneurial landscape.
“We are honored to represent the Kingdom at the Startup20 Summit, an important global platform for advancing innovation and sharing expertise among G20 countries. Through our participation, we aim to contribute to building a global ecosystem that supports entrepreneurship and enhances its ability to address challenges,” said the Prince, reflecting Saudi Arabia’s commitment to empowering entrepreneurs on a global scale.
At the heart of the Saudi delegation’s strategy is NEOM, a region envisioned to be a hub of technological and innovative advancements. Prince Fahad highlighted the central role NEOM plays in Saudi Arabia’s broader vision for entrepreneurship, stating, “NEOM’s visionary projects attract top talent and the brightest minds from around the world, creating an ideal environment for entrepreneurs and innovators in all sectors. NEOM offers professionals, startups, and major companies an exceptional opportunity to achieve remarkable success through their involvement in its development.”
He continued, “NEOM is not just a futuristic region; it represents a comprehensive vision for the future. It seeks to establish an innovative and sustainable economy that addresses the most urgent challenges of our time by fostering creativity and embracing unconventional solutions.”
The Saudi delegation itself comprises a diverse mix of individuals from government, the private sector, non-profit organizations, and leading entrepreneurs. Their involvement in the summit aligns with Saudi Arabia’s Vision 2030—an ambitious blueprint that aims to diversify the Kingdom’s economy through innovation, with a special emphasis on the growth of small and medium-sized enterprises (SMEs).
This participation marks a key moment for Saudi Arabia, particularly in attracting foreign investments and showcasing the strides the Kingdom has made in fostering entrepreneurial growth. The summit provides a platform for Saudi innovators to showcase their projects, attract international attention, and highlight the robust ecosystem that has been developed to nurture startups and SMEs.
In addition to attending the summit, the Saudi delegation is hosting a special side event that will showcase the nation’s entrepreneurial ecosystem. This exhibit, featuring contributions from multiple sectors, will allow for a deep dive into the Kingdom’s initiatives in creating investment opportunities and bolstering startups. Panel discussions will also provide an opportunity for experts from around the world to exchange ideas on innovation, entrepreneurship, and the specific challenges that entrepreneurs face in today’s global markets.
NEOM’s involvement as a strategic partner and sponsor of the Saudi side event aligns with its role as a beacon of innovation. It is through NEOM’s ambitious projects that Saudi Arabia hopes to attract visionary entrepreneurs, leading investors, and talented professionals, reinforcing its position as a leader in global innovation.
By fostering these connections, Saudi Arabia is not only strengthening its relationships within the G20 but also positioning itself as a pivotal player in shaping the future of global entrepreneurship. The presence of Saudi entrepreneurs at the summit offers them the chance to explore cutting-edge technologies and leverage international networks, with the goal of expanding their businesses on a global scale.
In conclusion, through projects like NEOM and its participation in forums such as the Startup20 Summit, Saudi Arabia is demonstrating its commitment to driving innovation, addressing global challenges, and developing a knowledge-based economy. The Kingdom’s strategic focus on entrepreneurship is not just an element of its Vision 2030 goals but a broader ambition to contribute to global solutions and foster industries of the future. As Saudi Arabia continues to grow its economy through innovation and investment in SMEs, it is clear that the Kingdom is cementing its role as a key player in the global startup landscape.
Published by: Khy Talara
