Riyadh leads Saudi startup scene charge in MENA -Startup Genome

The Kingdom’s startup scene made strides in the Startup Genome 2025Global Startup Ecosystem Report (pdf), with three hubs making it to the top 10. Riyadh ranked third in the MENA region and jumped to the 21–30 range among the world’s top 100 emerging startup ecosystems. Meanwhile, Jeddah landed in sixth place in the region, while the Al Khobar-Dammam hub landed ninth.

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By the numbers: The capital now has the third most valued startup ecosystem in the region at USD 10 bn, while pulling in the third-largest early-stage funding volume at USD 508 mn from 2H 2022 until the end of 2024. Riyadh nurtured three unicorns, compared to a global average of four, while seed rounds logged a median of USD 1.3 mn over the same period, above the global average at USD 889k.

The drivers: Riyadh’s rank jump was pushed by high marks in the Performance category, reflected in strong growth by the fintech, cybersecurity, and logistics and supply chain sub-sectors, on the back of strong market research among other factors, according to the report.

ALSO- A mix of private and public entities helped prop up the Saudi startup scene, chief among them the Investment, ICT, and Environment, Water, and Agriculture ministries, Monsha’at, and the MISK Foundation, along with BIM Ventures.

Looking ahead: The report highlights a burgeoning engineering-led startup development in Dhahran, pushed by the innovation output of King Fahd University of Petroleum and Minerals.

ICYMI- Saudi investors were the most active in the region last year, accounting for 175 agreements and surpassing the US, the UAE, and Egypt, while Saudi startups attracted a total of USD 653.8 mn in funding in 2024, driven by three unicorns and four Y Combinator startups.