Houssem Jemili Shares Insights on Saudi Arabia’s Innovation Landscape
Partner and member of the Vector℠ and Advanced Manufacturing & Services practices at Bain & Company, Houssem Jemili, recently provided valuable insights into the growing startup ecosystems and innovation landscape in Saudi Arabia. He highlighted the essential roles of livability, funding, business environment, and infrastructure in transforming Saudi cities into global hubs for innovators and creators.
Saudi Arabia’s livability plays a crucial role in attracting and retaining top-tier global talent. Beyond basic standards like health and safety, creating a sense of community belonging is vital. Social events and creative conferences, like the LEAP conference, are already fostering a positive impact on the technology and innovation ecosystem, according to Jemili.
Jemili also emphasized the significance of Saudi Arabia’s natural and cultural attractions, such as the Asir Mountains, Al Wahbah Crater, Al Ula, and international sporting events like Formula One, in enhancing the country’s livability.
Furthermore, Jemili stressed the importance of a supportive business environment and accessible funding for startups in Saudi Arabia to become a leading global innovation ecosystem. He highlighted the diverse funding partners available, including government entities, large investment funds, and venture capitalists, to support startups and entrepreneurs.
Jemili pointed out that Saudi Arabia’s success in climbing the Global Innovation Index is due to dedicated innovation hubs and programs like Riyadh Techstar accelerator and Plug and Play. These programs connect startups, investors, and academia to foster collaborative growth and innovation.
Recommendations from Jemili include a structured regulatory approach and continuous development of the funding landscape to sustain and nurture innovation ecosystems. He emphasized the need for transparent business regulations, ease of doing business, and regulatory sandboxes to enhance innovation and entrepreneurship.
Overall, these insights highlight the significant progress Saudi Arabia is making towards becoming a leading hub for technology and innovation. With strategic initiatives and improvements in ecosystem connectivity, KSA is poised for remarkable growth in the technology and creative sectors in the coming years.
