Leading global entrepreneurs and investors from the growing entertainment sector and beyond are taking part in the second Catalyze event being organised by the Ministry of Investment in Saudi Arabia (MISA).

The three-day event, which began on December 9 in AlUla, will be concluding tomorrow in capital Riyadh, offering visitors an opportunity to explore venture capital, private equity and other investment partnership opportunities in the kingdom.

Catalyze Saudi was launched in March this year which was attended by several top officials including Mayor Francis Suarez from Miami, David Grutman, Rio Ferdinand, Onefootball, Liberty City Ventures, Todd English, Animoca Brands, Silicon Valley Bank, Ginkgo Bioworks, Warner Music Group and Fernando Garibay.

This edition of Catalyze Saudi will focus on the future of the entertainment industry, bringing together guests to discuss opportunities across sectors such as gaming, media, music, sport, design, tourism, and hospitality, with a specific lens on increasing investment in Saudi Arabia.

According to MISA, Catalyze Saudi aims to connect government leaders, innovative startups, institutional investors and leading family offices to support the growth of Saudi Arabia’s startup and entrepreneurship ecosystem by connecting it with global funding, expertise and networks.

As host of the event, MISA, which aims to promote Saudi Arabia as a world-class investment destination, it is holding roundtable discussions with global and Saudi entrepreneurs and investors and also provide networking, learning, and other engagement opportunities.

This effort is in line with the country’s goal of increasing the contribution of small and medium-sized enterprises (SMEs) to the Saudi economy, a sector that is expected to reach 35% by 2030.

SME contribution to GDP from 20% to 35% in 2030, as set out in its Vision 2030 economic growth and diversification blueprint and National Investment Strategy, it stated.

According to MAGNiTT, a startup platform for emerging venture capital markets, last year was a record-breaking year for the Saudi venture capital ecosystem, which grew 270% year-over-year as startups accumulated $548 million in funding.

This momentum has continued into 2022 as the kingdom defied challenges in the global ecosystem to see significant funding growth, with $818 million raised over 106 deals in the first three quarters of the year.

The value is already 50% higher than the record funding raised last year and took Saudi Arabia’s share of the total funding in the Mena region to 35%, up from 18% in 2020.

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