BDO LLP | INTERNATIONAL TECH HUBS THIRD EDITION
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Another of the Kingdom’s Vision 2030 aims is to bridge this gap between talent and employer, with plans in motion to support vocational work placements, university partnerships and intern schemes across the Kingdom. Some 86% of employers anticipate a significant reduction in reliance on expatriate talent by 2030 . THE INVESTOR ANGLE Saudi Arabia’s start-ups have sealed a record number of deals in the last few years, with investments surging 92% between 2018 and 2019 – 71 transactions at a total value of $67 million . eCommerce, delivery and transport were among the top industries to attract start-up investment in this time frame – eCommerce took 27% of all deals while the delivery and transport industry accounted for the highest amount of funding compared to other industries with 26% of all investments. Education, data analytics and business intelligence also saw an encouraging boost in investment interest. Saudi Technology Ventures (STV), SA’s $500 million venture capital fund, forecasts rapid continued growth for VC investments in the Kingdom, with annual investment capital potentially expanding tenfold, from $50 million in 2018 to $500 million in 2025.
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