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NRG Ventures was invited by the General Authority for Small and Medium Enterprises MonshaatSA to participate in the BibanGlobal Forum 2023.
NRG Ventures was invited by the General Authority for Small and Medium Enterprises MonshaatSA to participate in the BibanGlobal Forum 2023. In addition, we were authorized to invite 10 startups who would like to develop business in KSA.
The event organizers kindly provided us with an invitation, accommodation in a 5-star hotel for us and our startups, transfers, and unique excursions to the startup ecosystem of Saudi Arabia and the best tourist spots in Riyadh. In addition, our fund team was invited to visit the wonderful Al-Ula heritage (an ancient Arabic oasis city founded in the 6th century BC) on a private flight.
During the BibanGlobal, our startups with founders who emigrated from Russia, Ukraine, and Belarus have been marked informally as one of the best technology companies on the Forum. In a nutshell, what we have reached:
- many of our startups have received commitments on investments from business angels and serious interest from local VC funds;
- some of our startups were pre-accepted by local accelerators;
- our startups have received potential corporate clients;
- our startups have received strong interest from the Ministry of Investment (MISA), the Ministry of Communications and Information (MCIT), the Ministry of Tourism, and the Ministry of Hajj and Umra.
As for NRG Ventures, we have received a soft commitment on investments in our Saudi Fund from the leading institution in KSA. We are sure that our technologies will dramatically impact the Saudi economy and Saudi Vision 2030.