Venture Investment and Emerging Companies

  • Keynote speaker: Dr. Mohammed Al-Mushaigeh
  • Speaker 1: Dr. Nasser Al-Qaoud
  • Speaker 2: Ms. Basma Al-Tuwaijri
  • Moderator: Mr. Jamal Mala’ekah

Summary

Dr. Muhammad Al-Mushaigeh reviewed the venture investment and emerging companies and the impact of this kind of investment on the financial and business system globally and locally. He also reviewed the sequence of industrial revolutions and their impact on business and investment trends, especially the fourth industrial revolution, and the role of companies that had venture investment in GDP and jobs. He referred to the emergence of venture capital funds and their finance of startup. He tackled the life cycle of these companies and their stages of growth and the role of venture investment. On the local level, the development of business, money, and investment in the Kingdom during the past six decades, and the role of government support in this, were dealt with. The paper concluded briefly with the requirements for the Kingdom to be a hub for entrepreneurship and venture investment, with investments in technology, capacity building, and confidence in entrepreneurs as leaders of change.

With the recent developments in technology and the competition among global economies, and in light of the directions of the Kingdom’s vision 2030, in addition to its interest in all kinds of investment, the Kingdom was keen on finding channels for venture investment, encouraging and supporting startups. In addition to the programs provided by the various agencies and development funds to stimulate investment and entrepreneurs, the General Authority for Small and Medium-Sized Enterprises “Munshaat” established the Saudi Company for Venture Investment with a capital of 2.8 billion riyals. The new company aims at directing investment in emerging companies during their stages of growth, and to participate in venture investment funds to stimulate them to provide the necessary funding for startups in their early stages.

Some of the proposals that would support startups, including taking all measures and enacting all the legislation that is required to facilitate doing business, and introducing young people to the various financing horizons of their startups, including venture investment funds.

The contributions made on the issue included:

  • Venture capital between finance and investment.
  • Barriers to benefit startups from venture investment.
  • The extent to which it can benefit from the experiences of successful startups in other countries.
  • Mechanisms to maximize return on venture investment in the Kingdom.

For more information on the issue, please refer to the link:  https://bit.ly/2yQWYsY

Recommendations:

  1. Establishing a strategic plan for innovation at the State’s level. The plan shall contain an articulate vision of innovation. It shall also hinge on awareness initiatives to reinforce innovation that is to be included in all economic, business, and financial sectors. The plans shall also support innovation communities and incubators of emerging ideas, technology and creativity labs, and shall disseminate innovative awareness among members of society, with particular focus on innovators.
  2. Directing venture investment funds that are led by the government sectors, particularly the administrative and investment sides. The international standards shall be met in the concept of venture investment, and can result in effective programs and initiatives.
  3. Incorporating programs in the curricula of all students so that they can face life directly and be able to know the real world and deal with it.
  4. Encouraging and intensifying problem-based solving and case studies at universities and schools to encourage thinking and innovation in what society and companies need solutions.
  5. Establishing a quality academy in providing educational output in free businesses, with a priority to introducing the real concept of venture investment.

 

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