The recent “Women in Tech” competition in Riyadh showcased the potential for female-led startups to revolutionize Saudi Arabia’s technology sector. The competition, which was hosted by global banking group Standard Chartered and Saudi-based investment firm Falak Investment Hub, involved an eight-week incubator program for eight startups in various sectors including fintech, health tech, property tech and edutainment. The top three startups were awarded a total of $50,000 in equity-free grants, with Sahm, a stock trading app, claiming first place and receiving $25,000. Nqoodlet, a fintech company, came second with a prize of $15,000, and Chefaa, a health-tech platform, secured third place and received $10,000. The CEO of Falak Investment Hub, Adwa Al-Dakheel, believes that the most significant shift in Saudi Arabia’s technology landscape will be the change in sentiment, investment appetite and innovation.
Saturday, October 28, 2023
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