Sunday 23 June 2024

Saudi Arabia launches major start-up hub

RIYADH, September 20, 2023

Saudi Arabia has officially launched "The Garage," a startup ecosystem accommodating more than 300 companies, within King Abdulaziz City for Science and Technology in Riyadh.
The Garage spans 28,000 sq m, transforming a former parking structure into a bustling innovation hub, said a Saudi Gazette report.
The facility boasts 24 state-of-the-art meeting rooms, an expansive event space capable of hosting over 1,000 individuals, and dedicated workshop areas.
The Garage, which commenced its journey in April 2022, has garnered partnerships including from Google for Startups and the National Center for Information Technology Development.
The diverse range of programs offered at The Garage includes "The Garage Plus," designed to accelerate startup growth, "ACCESS" for startups, "The Garage Incubator," "MVP Lab," "GAIA Startup Accelerator," and the Middle East's inaugural "Antler" program.
The Garage has successfully graduated more than 230 startup companies and nurtured 450 founders hailing from over 50 countries worldwide. These startups have not only achieved significant milestones during their tenure at The Garage but have also collectively generated revenues exceeding SR24.5 million ($6.5 million). Furthermore, they have secured substantial investments amounting to over SR215 million ($57.3 million), in addition to benefiting from comprehensive training programs, said the report.


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