The report of the Arab forum for innovation in the kingdom – emerging companies in the field of technical 2017

تقرير عرب نت عن الابتكار في المملكة - الشركات الناشئة في مجال التقنية 2017

There is no doubt that emerging companies in the field of technology in Saudi Arabia is increasing continuously, where the Arab net in the network of emerging institutions in the Kingdom and launched a detailed report entitled “innovation-driven economy in the kingdom – emerging companies in the field of technical 2017”. The report is available for download from here.

Among its objectives, highlight gaps and strengths in this network to provide anyone interested to invest in incubators and accelerators, business mentorship programs or launch a database clear.

In order to do so, has been conducting a questionnaire to the founders, partners and employees who have shares in companies of the emerging digital technology in the Kingdom and converted through several corners of the field of system entrepreneurship faculty of Babson Global:

The process of funding

It seems that startups in the field of technology in Saudi Arabia depend heavily on funding is based on equity. Where they showed us the results of the questionnaire that more than half of startups depend on their personal savings (56%), while one company out of every 10 companies are emerging almost on competition (11%) and bank loans (11%) also.

However, the equity financing in the Saudi market came in low rank with a network of patrons of the business which is the source of the most requested by (24%) and followed by business accelerators, by (11%) and capital investment (by 9%). the

It may be the possible reason for the above is the lack of knowledge of the kingdom’s sources of capital is making the market a clear target of the committee to more business accelerators, and investment capital.

No one person can do it all

If the Saudi regime not only lacks basic services such as teaching job skills (33%) of the spaces of action available (for 31%). However, the startups that underwent a questionnaire on The they encountered difficulties in receiving mentoring support in terms of legal advice, accounting (36%), and communicate with potential customers (35%), the strategies of Target Market (29%).

Featured similar results with regard to the availability of talent and technical skills. It seems that the basic work skills such as marketing, media, and communication prevailed among more than half of the startups. However, whenever services of a technical nature, the less their availability, such as cleansing, consultation (11%), the design of the product (7 percent), as well as data transfers (2%). the

Spread the word

Results revealed in this section that most of the Saudi companies, emerging difficulties in obtaining new business due to non receiving the support of the marketing attraction and financial considerations. For example, the confirmed startups that have undergone replacement of the need to support processes of influencers (47%) or word of mouth marketing (34 percent), as well as the budgets of marketing and sales (43 percent).

Briefly

After this research, we noticed that the two biggest challenges facing the Saudi market are access to finance and finding the talents of a Saudi local. But on the bright side, half of the startups that were subject to the questionnaire claimed that the technical infrastructure is extremely strong, while a quarter of these companies to attract new business represents a strong challenge.

This year, you will delve network ArabNet in the ecosystem of the kingdom with the previous version of ArabNet Riyadh that fall under the theme of “the rise of the kingdom of innovation” to be held on 12 and 13 December. Meet thousands of business leaders, digital entrepreneurs and investors in a sport where events will take place at one time: “ArabNet Riyadh” for more than 1000 executives at companies and senior government officials, and “facilities for Emerging Companies of Saudi Arabia”, which is run by ArabNet, for more than 3,000 entrepreneurs, youth and students.

The report of the Arab net for innovation in the kingdom – emerging companies in the field of technical 2017 appeared first on the tech world.

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