Saudi: 50% of tech companies in Riyadh founded in past 5 years

Saudi launched its latest research project that studies, analyzes, and maps the activity and connections in the entrepreneurial tech ecosystem in Riyadh for the past 20 years. The report is titled Mapping The Riyadh Tech Sector: A Network Analysis of the Entrepreneurship Community.

The research showed that Riyadh’s tech sector has grown rapidly with 50% of companies in Riyadh’s tech ecosystem founded in only the past 5 years, but only 18% of those young companies have become scaled companies. These scaled companies provide the majority of jobs in tech in Riyadh with 90% of jobs created by only scaled companies.

Comments