3 Saudi startups on Forbes top 50 Arab list this year

April 09, 2018

Saudi Gazette report

— Three Saudi startups figure prominently on the Forbes list of 50 startups to watch in the Arab world this year.

These startups are those who have not yet received big-ticket funding but are looking promising for the future, Forbes said, releasing the list last month.

On number six in Forbes list of 50 is Halayalla, a booking platform for sports and entertainment. It was founded by Nadeem and Faheem Bakhsh, Farrukh Bandey, Yousef Shanti in 2016.

On number 26 is Near Motion, a customer engagement tool, founded by Faisal Alferdos in 2015.

Figuring on number 34 is Maharah, a booking app for home maintenance services, founded by Mujahed Marghlani, Saleem Barnawi, Ahmed Mereyani in 2015.

On number 42 figures Sawerly, an online platform to book photographers. It was founded by Hussein Attar and Mohamed Al-Zahrani in 2013.

Forbes published a list of 182 Saudi entrepreneurs representing 100 startups last year. They included 29 women. They have startups in 23 sectors. There are 39 startups in Jeddah, 37 in Riyadh and 10 in Al-Khobar.

Saudi Arabia has given utmost importance to entrepreneurship as part of Vision 2030 and the National Transformation Program to encourage Saudis to start own businesses.

It extends all support for skills development in order to help young Saudi men and women find solutions for environmental, housing, educational and other problems. Many Saudis now earn millions of riyals in profits from their small business enterprises and provide employment to others.

Fadi Yahya, a young businessman, said he was able to enter the business field very early

He began his business eight years ago. Before that he had earned some experience by working for a non-profit organization while studying in the university.

“This experience encouraged me to start a business of my own,” he told Al-Hayat Arabic daily. Yahya’s first project was in the design field. He later received King Abdullah Foreign Scholarship and went to the US to obtain a Master’s degree. There he started a technological project which did not last long.

He returned to the Kingdom with another technological project.

His new idea was very simple: Develop people’s hobbies by connecting them with good trainers, charging a nominal fee.

Yahya was not the only Saudi who opted for business ventures instead of employment.

Hussain Attar is another successful young businessman. His “Sawerly” (Take pictures for me) project was instrumental in bringing together more than 2,500 photographers across the Kingdom.

His team won the first place in an international competition for young entrepreneurs organized by the Erasmus Center for Entrepreneurship (ECE) in the Netherlands in 2014 and the first place in Ideathon contest organized by ArabNet in Lebanon in 2014.

April 09, 2018
21 hours ago

Arabsstock celebrates Saudi Foundation Day with exclusive content

21 hours ago

LuLu Walkathon for Saudi Founding Day Heralds Sustainability Message

day ago

L’azurde CEO presents retail and digital transformation at 10th RLC MENA Summit