Al Madinah Ventures Program Launches In KSA
The program aims to establish a US$10 million investment fund by 2025 to support startups, attract over 30 investors annually, and facilitate the launch of five new companies each year.
Led by Saudi venture studio Value Makers Studio (VMS), in collaboration with the Economic Development Centre and the Madinah Chamber of Commerce, and under the patronage of HH Prince Salman bin Sultan bin Abdulaziz, Governor of Al Madinah Region, Al Madinah Ventures program has been launched in the Kingdom of Saudi Arabia to enhance entrepreneurship, innovation, and investment in the city of Al Madinah. The program aims to establish a US$10 million investment fund by 2025 to support startups, attract over 30 investors annually, and facilitate the launch of five new companies each year. These measures are expected to contribute to job creation, encourage innovation, and support economic development in the region.
The initiative seeks to tap into the economic potential of Al Madinah, which is home to over 60,000 small and medium enterprises (SMEs) that account for 7 percent of Saudi Arabia’s gross domestic product (GDP), as well as to position KSA as a key hub for innovation, investment, and opportunity.
Founded in 2019, Value Makers Studio has invested in 10 startups valued at over $180 million, supported more than 350 entrepreneurs, and generated over 800 jobs.
Al Madinah Ventures will benefit from VMS' initiatives, including the Bridge Program, which helps international startups enter the Saudi market, and SaudiPreneur, which equips Saudi youth with the skills needed to establish impactful startups.
In a statement, Ghassan Khalifa, secretary general of the Madinah Chamber of Commerce, said, “The Chamber plays a strategic role in providing logistical and structural support to this initiative. By fostering relationships between entrepreneurs and both local and international investors, we are committed to developing Al Madinah’s business ecosystem and creating a fertile ground for innovative ideas to flourish into impactful, sustainable ventures.”
Motaz Abuonq, founder and CEO of Value Makers Studio, said: “This program is built on a clear vision to establish a comprehensive platform where ideas are transformed into reality, with a focus on innovation and empowering Saudi youth to be active contributors to this economic renaissance.”
Al Madinah Ventures is part of Saudi Arabia's broader efforts to diversify its economy away from oil dependence and aligns with the Kingdom’s Vision 2030.
