7 Game-Changing Saudi Startups to Watch in 2023

According to the Global Entrepreneurship Monitor Report’s 2019 edition, more than 76% of Saudi adults perceived good opportunities to start a business, representing the second highest percentage of all 49 countries analyzed. 

Saudi Vision 2030 is an ambitious yet achievable long-term strategy that is based on three key pillars, namely an ambitious nation, a vibrant society, and a thriving economy. The Saudi government aims to stimulate the country’s economy, diversify revenue, and underscore small to medium-sized enterprises (SMEs) as agents of economic growth, relying on them to create employment, to support innovation, and to boost exports. Saudi Vision 2030 outlines the Saudi government’s ambition of increasing the contribution of SMEs from 20% to 35% of the country’s GDP by 2030. Realizing the Saudi Vision 2030 and capitalizing on the tremendous opportunities it creates calls for a robust entrepreneurial ecosystem.  

Saudi Arabia recently unveiled far-reaching plans to establish itself as a global tech hub, transforming the country into a regional center for technology and science and moving into the knowledge economy. The Saudi government is currently investing billions to stimulate the nation’s tech ecosystem, its sovereign wealth fund tipped to double in size, exceeding $1.1 billion in assets under management by 2025. 

Against this promising backdrop, we look at seven Saudi Arabian startups that are poised for success in 2024, from the ground-breaking fintech Tamara to Shop4me, a B2B marketplace. 

1. Tamara 

Tamara is a Saudi-born buy-now-pay-later fintech that has big dreams and fierce ambition. The company strives to provide financial solutions with the best interests of its customers front and center. Tamara’s ultimate goal is to enable consumers to shop without worrying about big payments, interest, or hidden fees. Tamara offers Shariyah compliant solutions, providing unique products that address the needs of its customers, helping them to achieve financial freedom. 

2. Uvera 

Food spoilage accounts for 8% to 10% of global greenhouse gases released into the planet’s atmosphere. It is also the leading cause of food waste in the United States. In addition to the environmental impact of food waste, it is also expensive, costing the average family of four in the United States up to $2,275 annually. Enter Uvera and its IoT-enabled kitchen device, offering a chemical-free means of prolonging the shelf-life of perishable food products. Asrar Damdam, Uvera’s founder, is a Forbes 30 Under 30 member. She has developed a UVC light that kills surface bacteria on perishable food products, extending the shelf-life of fruit by up to 123%. Her ultimate goal is to assist in attaining the UN challenge to reduce food waste by 50% by the year 2030. 

3. Nana 

Nana aims to make shopping fun and easy, enabling users to get their groceries delivered wherever they are and whenever they want. Nana Direct is Saudi Arabia’s first online shopping and home delivery service, comprising a sophisticated shopping and delivery system. The company’s ambitious team strives to achieve success at the local, regional, and global levels in the field of ecommerce, comprising developers, designers, managers, freelancers, and customer service operators trained and equipped to complete sales and delivery operations. 

4. FalconViz 

Leveraging advanced drone-based service technology, FalconViz creates accurate renderings of construction sites far faster than is achievable with traditional methods. Take for example the Al Balad World Heritage Site, which covers some 200,000 acres. Prior to construction, the plot needed to be surveyed in order to determine preservation areas and usable space. While surveying such a vast area manually would have taken months, FalconViz completed the task in a matter of days. 

5. Qawafel 

Qawafel is a Riyadh-based e-marketing platform that facilitates the exchange of perishable food between producers and shops. Operating an ecommerce platform for food suppliers and retailers, the startup has raised an impressive $3 million in seed funding from Alsayed Sons and two other investors to date. Qawafel’s B2B marketplace simplifies trade between all parties, ranging from retail suppliers to producers to wholesale, and everything in between. Serving 171 cities and villages, Qawafel has some 4,000 registered customers and 250 suppliers currently, with plans to roll out its services nationwide.  

6. UnitX Technologies  

UnitX Technologies was created out of a passion for accelerating the adoption of cutting-edge technology in advanced computing. The company started its journey in January 2018 as part of Saudi Arabia’s TAQADAM accelerator program. UnitX Technologies is a B2B products and services company that was founded by Dr Kiran Narayanan and Dr. Ravi Samtaney. Today, UnitX works with companies all over the world, promoting digital acceleration through rapid HPC and AI adoption. 

7. Shop4me 

Shop4me is a B2B marketplaces that enables businesses to procure items directly from suppliers. The platform lists suppliers’ products, providing businesses with access to this data through its website or mobile app. Businesses simply select their preferred supplier, add items to the cart, and choose a delivery time slot. Operating with zero inventory, Shop4me enables businesses to leverage its platform to obtain better prices from suppliers. 

7 of the Best E-Commerce Startups in Egypt

E-commerce is one of the fastest growing sectors in the Middle East. Recent projections estimate that the region’s retail e-commerce sales alone will top $48 billion by 2022, after experiencing an unprecedented 19.80 percent in growth in 2020.

As the Middle Eastern e-commerce market continues to expand, the region’s startups will play an important role in meeting ever-increasing consumer demand. The Egyptian startup scene has already produced a number of thriving e-commerce platforms that focus on everything from auto parts to beauty products. Here’s a look at some of the best e-commerce startups in Egypt today:

1. Kemitt

Since 2018, Kemitt has built an online marketplace where consumers can shop for furniture and decor. The startup sells everything from rugs to storage units, with designs from several cultures. This diverse catalog of items allows Kemitt’s customers to find everything they need for their homes.

At the same time, Kemitt works with local furniture makers to help them sell their one-of-a-kind designs online. The startup handles all aspects of ordering and shipping, so sellers can easily fulfill orders.

In spring 2021, Kemitt closed a funding round worth six figures. This funding will help the startup’s team realize its goals for market expansion and technology adoption. Ultimately, the team wants Kemitt to become the go-to online platform for furniture shopping in the Middle East.

2. Source Beauty

Cairo-based startup Source Beauty has spent the last three years growing into one of the most in-demand beauty marketplaces in the Arab world. Founder Lydia Schoonderbeek started the company as a blog, where she shared information about beauty products to help her readers make better choices about their own purchases. By 2018, she had launched the Source Beauty e-commerce site, targeting Egyptian women seeking a one-stop-shop for quality skincare, makeup, fragrances, and health products.

Source Beauty sells more than 3,500 products spanning 80 brands, many of which are Egyptian companies. The startup has also partnered with several international brands that facilitate their manufacturing processes in Egypt. In addition, the Source Beauty website features written content, with articles on topics like easy skincare routines and how to keep your hair looking fresh between washes.

3. Yodawy

Known as a “guide to health and wellbeing,” Yodawy is a website and mobile application that features a broad catalog of pharmaceutical and health products. The startup features an intuitive user interface that makes it easy for customers to find and shop for personal hygiene products, baby items, cosmetics, and more. Yodawy also connects users to more than 4,000 pharmacies in Egypt, allowing them to fulfill their healthcare needs at the tap of a button. In addition, the startup has developed an app for healthcare providers to instantly send prescriptions to local pharmacies for their patients. 

Outside of e-commerce, Yodawy has developed several healthcare-focused platforms serving the Egyptian market. For instance, the startup’s Pharmacy Benefit Management portal serves as a point of contact between pharmacies, patients, and their insurance providers.

4. Fakahany

Serving users in more than a dozen districts across Cairo, Fakahany is a mobile app for busy people who don’t have time to shop for groceries, but still want to enjoy fresh produce. A proponent of the farm-to-table movement, the startup prides itself on offering the freshest fruits and vegetables possible. Fakahany’s team handles all aspects of the daily order fulfillment process, from sourcing new produce to packaging orders. The startup can deliver to homes or offices.

5. The Baby Garage (TBG)

A mobile app designed for parents, TBG allows users to buy and sell children’s products. Parents can easily browse through available items from other sellers, or list their most wanted products for other users to see. If they have any children’s items they no longer need, they can create listings of their own to either sell or donate the products. By creating a virtual marketplace, TBG provides users with the best deals on kid’s items and fosters an online community of parents.

6. DressCode

Launched in 2019, DressCode is revolutionizing the Egyptian fashion and lifestyle market with its e-commerce solution. The website features products from both up-and-coming names and well-known brands, giving customers a variety of choices and styles. DressCode has begun selling cosmetics and home design products as well.

To meet the growing demands of Egyptian shoppers, DressCode has also developed its own product line. This label, which makes up the majority of its sales, employs over 1,400 workers in 35 workshops across Egypt. This dedicated team brings DressCode’s designs to life within a mere two weeks of ideation, which keeps the site’s catalog fresh.

7. Tawfiqia

Entrepreneur Mostafa Zenhom launched Tawfiqia to address a major problem in Egypt’s automotive parts market: an oversaturation of fake products. People often aren’t sure whether the products they’re buying are authentic or not. Disorganization in the market has also made shopping for reliable parts even more difficult.

Tawfiqia has spearheaded digital transformation in this industry in Egypt by creating the first marketplace to work with certified auto parts suppliers and service providers. The startup has built a network of 40 suppliers that sell over 6,000 products first hand. Car owners can easily find products specific to their car models and compare multiple items to find the best deal. They can also find local auto service centers and schedule appointments directly through Tawfiqia.

How to Establish a Startup in the UAE

The United Arab Emirates (UAE) is a bustling hub of entrepreneurship amid the fast-growing Middle Eastern startup scene. From home-grown innovators to ex-pats, entrepreneurs from all walks of life have flocked to the UAE to set up businesses. However, successfully launching a startup in the UAE isn’t as easy as renting an office and marketing your products to the local populace. There are several important steps that you will need to take if you want to join other like-minded entrepreneurs and set up shop in the UAE.

Here’s a breakdown of each step so that you can get started on your own startup journey:

Understand the business environment.

The business climate in the UAE is unique to others in the Middle East, so it’s important to familiarize yourself with it if you want to succeed as an entrepreneur. Most people living in the UAE are ex-pats, many of whom have set up businesses of their own. As such, the country has numerous protocols in place to make foreign investment and entrepreneurship easier than ever. The UAE recently decided to grant foreigners 100 percent ownership in the startups they set up locally if they focus their work on one of 13 sectors such as manufacturing and hospitality.

The UAE’s business culture is also different from other countries. There is a clear hierarchy that businesses follow, and the local attitude toward business dealings tends to be conservative. You should be prepared to take a hands-on approach to business relationships since UAE locals prefer to communicate face to face and build strong personal connections with their colleagues.

Decide where you’d like to set up your business.

In the UAE, businesses can operate in one of three economic zones, or jurisdictions. If you were to set up your startup as a mainland business, then you would be free to accept contracts from the government and conduct trade within the UAE market with no hassle. Offshore companies enjoy tax benefits as well as the added advantage of being able to retain 100 percent of their profits and business ownership. However, they only receive certificates of incorporation, not operating licenses.

Many startups choose to set up shop in one of the many free zones scattered across the UAE. These jurisdictions offer the most support to the business that operate within them. By launching your startup in a free zone, you will also have no restrictions on currency and fewer tax liabilities.

Pick a name for your startup.

Businesses in the UAE must follow certain protocols when selecting their names, so you should familiarize yourself with these rules. Aside from more obvious naming taboos like offensive language, your startup’s trade name shouldn’t include any political or religious references. You can name your startup after yourself, but you must use your full name and not an abbreviation. It’s also important to check with the UAE’s Department of Economic Development (DED) to ensure that no other business has registered under the name you have chosen.

Register your startup.

As you approach launch day, you will need to take the important step of registering your startup in the UAE. You will begin this process by applying for a business/trade license. The UAE offers four kinds of licenses: commercial, professional, industrial, and tourism. If you’re launching your startup in a free zone, however, you must apply for a license specific to that zone.

Registering your business will happen concurrently with licensing. This process involves obtaining approval from DED-specified government authorities and submitting documentation for your startup.

Set up a bank account.

You can’t start doing business in the UAE until you open a bank account, but only after you register your business and obtain a license. With all the required documentation in hand, you can then begin contacting banks to set up your corporate account. Fortunately, the UAE has numerous options to choose from, including local names like the Commercial Bank of Dubai and international banks such as Barclays.

Once you choose a bank, they will interview you about your business. They will ask you to submit your trade license, board resolution, and other documents to verify the status of your startup. Any ex-pats you have as business partners must also submit copies of their passports. Some banks will even ask to see your business plan before allowing you to set up an account with them.

Find local help.

Although the UAE has changed its laws regarding foreign business ownership, there are some areas of business that still require entrepreneurs to enlist the help of a local partner. If you are an ex-pat who wants to establish a startup in a “strategic” sector like transport, energy, and telecommunications, then you will not be allowed to own every share of your business. Your local partner must retain a 51 percent majority of your startup, with you and your other foreign shareholders retaining 49 percent.

A local partner isn’t the only resource you need to thrive as an entrepreneur in the UAE. You should also consider applying to a startup accelerator or incubator to help your business get off the ground. These entities offer everything from mentorship opportunities and workspace to funding and networking—all in the effort to fuel the growth of your startup.

5 Arab Startups That Are Seeking to Minimize Food Waste

Over 820 million people around the world are experiencing hunger, a problem that is worsening with each passing year. Food waste is one of the root causes of this issue. The Food and Agriculture Organization (FAO) of the United Nations (UN) estimates that around 1.3 billion tons of food goes to waste every year. As countries across the globe work toward the UN’s 2030 Agenda for Sustainable Development, tackling food waste has become a high priority.

The MENA region has taken a particular interest in the issues surrounding food waste. The governments of Saudi Arabia and the UAE have both vowed to reduce food waste by 50% by 2030, and countless entities from across the rest of the Middle East are also taking steps to address the problem.

However, it is the region’s startups that have taken the most innovative approach to minimizing food waste. Here’s a look at some of the ways in which Arab startups are working to make food waste a thing of the past:

Wa’hab

Headquartered in Qatar, Wa’hab takes a multi-faceted approach to minimizing food waste. The startup acts as an intermediary between those who have surplus food and people in need. To this end, Wa’hab reaches out to charities and food providers who want their excess food to go to a good cause. The startup collects any food they want to donate and packages it before giving it to its recipients. Not only does this allow Wa’hab to minimize landfill usage, but it also reduces economic losses by ensuring that every bit of food goes to good use.

Wa’hab has also sought to tackle food waste by developing an easy-to-use indoor composting system for households in Qatar. Known as smartbin Air, this system allows users to compost their food scraps in a small 20-liter bin with no mess and no need for mixing. It also generates a liquid fertilizer called SmartBrew, which consumers can use on all of their household plants.

Uvera

Saudi Arabia-based Uvera has developed an innovative food preservation solution designed to prolong the shelf life of fresh foods. This biotech startup leverages an FDA-approved method of utilizing ultraviolet (UV) light to eliminate the pathogens that cause food to spoil. Through sterilization treatments, household staples like fresh produce and meat can last up to 60 percent longer than they would otherwise. Uvera’s process takes a mere 30 seconds to complete and doesn’t use any chemicals to preserve food.

Uvera has plans for a 2022 launch. It will offer food preservation devices for use at both food provider facilities and households, thereby furthering its dual mission of reducing food waste and combating climate change.

Too Good to Waste (TGTW)

The startup Too Good to Waste is addressing a growing problem in Lebanon: about a third of the country’s food goes to waste each year, leaving much of its population to battle hunger. The startup is revolutionizing food waste management by involving entities from across Lebanese society in this fight. TGTW runs educational workshops for students and workers to learn about the issues surrounding food waste and how they can help.

TGTW also saves surplus food from ending up in landfills by collecting donations from grocery stores and wholesalers. After processing the food it collects, the startup provides buffets for those experiencing hunger and poverty with the help of NGOs. To ensure that no food goes to waste, TGTW also frequently organizes meals for local businesses.

FoodKarma

FoodKarma aims to involve the residents of the UAE in the nation’s goal of eliminating food waste. The startup has built a network of more than two-dozen restaurant brands that are also dedicated to this mission and want to sell their extra food rather than throw it away. Through the FoodKarma app, restaurant operators can offer meals at a discounted rate. Users can peruse menus of available items at their favorite eateries and enjoy fresh, hot meals that would have otherwise gone to waste. They build rank in relation to the food they order while knowing that they are helping the planet in the process.

To date, FoodKarma has helped to save over 4,400 meals worth approximately AED 130,000. These efforts have also reduced carbon-dioxide emissions equivalent to nearly 200 cars on the road each day.

TeKeya

Entrepreneur Menna Shahin called upon her passion for humanitarian work to establish TeKeya. This startup and mobile app provide meals to Egyptians living in poverty while also cutting down on the food waste that she noticed in her day-to-day life. A dedicated social enterprise, TeKeya works with local restaurants, hotels, and other providers to offer options for redistributing any surplus food they may have. TeKeya connects these entities with charities that supply food to people in need throughout Egypt.

TeKeya also gives food providers the option to sell their leftover products at a discounted price at the end of the day, which makes it easier for those living in poverty to afford nutritious meals. Those who would rather donate their surplus food can sign up for the startup’s subscription service, which streamlines the process of redistributing their products throughout the community.

Top 7 Tips for First-Time Entrepreneurs

Launching a startup is daunting for even the most experienced entrepreneurs. For those who have never tried starting a business before, it can be even more intimidating. You may not know everything about running a startup going in, but you can position yourself for future success by following the right advice.

Let’s look at some of the tips that every first-time entrepreneur should follow:

1. Do what you love.

Starting a new business isn’t easy, especially if it’s your first time. You’ll need to commit a significant amount of your own money and time to make it a success. To give your startup the best chance, you should tap into one of your passions. Whether you love to travel or want to make the world a better place, turning one of your interests into a business model will keep you motivated when the going gets tough.

Many budding entrepreneurs make the mistake of simply focusing on products and services that they think will fill a gap in the market. It doesn’t matter if you think a startup with an innovative new payment portal will be a success. If you aren’t passionate and knowledgeable about what you do, then your business won’t go very far.

2. Network whenever possible.

Networking will be an invaluable tool to you throughout your entrepreneurial journey. You should seize networking opportunities whenever they present themselves. Startup events are some of the best arenas for networking, as they put you in direct contact with your fellow entrepreneurs as well as potential investors and mentors. You should also use networking sites like LinkedIn to connect with others. However you choose to do so, cultivating a diverse network will ensure that you have every resource available to succeed.

3. Have a plan, but be flexible.

You can’t even think about building a thriving startup without a well-laid-out business plan to guide you. This plan should cover all the bases, highlighting your concept, market value, finances, and more. Not only will a good business plan provide the vision that you need to move forward, but it will also make it easier to woo investors or acquire financing.

As important as a business plan is, it is even more crucial that you don’t hold to it too firmly. Over time, you’ll encounter challenges and gain more experience that could lead you to reconsider aspects of your original business plan. You can (and should) make tweaks to your plan as your situation evolves. Failing to adapt in this way could spell disaster for your startup.

4. Build the best team possible.

New entrepreneurs frequently make the mistake of failing to hire the right employees for their startups. Building the wrong team can destroy your business faster than you may think—but you won’t be able to do it all on your own forever.

When you do start the recruitment process, you’ll need to take it slow. Look for candidates with ample experience and a background in your market. Make sure that these individuals will be flexible enough to wear different hats.

Working at a startup will require everyone on the team to take on several different responsibilities, so you have to make sure that they’ll be up to the task. Also, you should hire people that will be a good fit with your company culture while embracing diversity.

5. Get to know your audience.

Understanding your customer will be one of the most important objectives of your growing startup. The more you get to know about them, the better you will be able to fulfill their wants and needs. Many businesses struggle with this, so it’s vital that you get it right.

You can use numerous tactics to achieve this goal, from surveys to communicating via social media. Listen to what they have to say, even if it’s negative. By getting to know them, you’ll have more feedback to fuel the growth of your business.

6. Embrace failure.

Failure is an inevitable part of life, especially when it comes to being an entrepreneur. Perhaps you fail to woo an investor that you wanted, or maybe you make a mistake that alienates some of your customer base. Whatever form it may take, failure is normal and nothing to fear.

Rather, you should embrace failure as part of the learning process. You can decide to sit around and dwell on your failures or use them as a tool for improvement. Learning from them will make you a far better entrepreneur in the long run and help you build a stronger business.

7. Manage your time and energy wisely.

Building a successful startup won’t happen overnight. You must be ready to put everything into your business if you want to get it off the ground. For entrepreneurs, this means spending more time in the office than the typical employee. Unfortunately, many passionate entrepreneurs dedicate themselves so fully to their startups that everything else in their lives falls by the wayside. It is easier than you think to get wrapped up in running your business and neglect friends, family, and even yourself.

As such, time management will be critical when launching a new business. You need to create a healthy balance between running your startup and focusing on your other obligations. More importantly, you need to learn how to manage your energy. Running yourself ragged trying to operate your business will, ultimately, limit your ability to get things done. It may take some trial and error, but creating the right work-life balance will be pivotal to your work as an entrepreneur.