Media ININ Economy We Trust
Media In / Riyadh 30 July 2018
The incubators and technology incubators have successfully raised funds amounting to SR 11.660 million by the end of the second quarter of this year through eight rounds and investment deals led by venture capital firms, Private investor networks and private sector companies, an increase of 7.66% compared to the first quarter of 2018. Revealed a statistical recent report issued by the «initiated» program; that the volume of financing emerging companies transactions by individual investors in the second quarter of this year amounted to 7.450 million rials; distributed on four deals and investment rounds, and funded by venture capital firms two deals Astosmareeten nearly 1.4 million While private sector financing reached SR 2.800 million, while grants and loans did not exceed SAR 10,000. These figures come at a time when the number of emerging technology companies incubated by Bader increased by 18 per cent to 228 by the end of the second quarter of this year, compared to 193 at the end of last year. The report pointed out that the volume of financing of start-up companies since the inception of the Bader program in 2008 and until the end of June this year amounted to about 150.951 million riyals. The volume of financing transactions for individual investors amounted to 60 million riyals, equivalent to 40 percent of the total amount of finance and investment , While venture capital firms contributed SR 49.03 million to the start-up companies, equivalent to 32% of the total financing. Private sector financing amounted to SR 32,842 million. The total financing of the supporting government institutions amounted to SR 7.057 million. In which the volume of grants and loans exceeds the barrier of 1.0 6 million riyals.
