The Venture Capital and Private Equity Association (VCPEA) entered into a strategic partnership agreement with the BIM Ventures studio. This agreement aims to enhance the contribution of the venture capital and entrepreneurship ecosystem in Saudi Arabia by fostering collaboration and integration between the parties and providing educational and statistical resources and harmonizing experiences.
Key provisions of the agreement include:
- Enhancing collaboration and integration: The parties will work together to provide educational and statistical resources and harmonize experiences to contribute to achieving their goals and enriching content related to investment and entrepreneurship.
- Activating the role of business building studios: The role of business building studios in the entrepreneurship and investment ecosystem will be activated to reduce risks and challenges for investors, entrepreneurs, and startups.
Notable statements:
Mr. Qusai bin Abdullah Al Saif, CEO of the Venture Capital and Private Equity Association: “This agreement is part of the strategic plans pursued by the association to develop and facilitate the growth and expansion of the sector, as well as to provide more opportunities for investors and entrepreneurs.”
Mr. Muhammed Amin Marah, Managing Partner and CEO of BIM Ventures: “This strategic partnership and cooperative agreement come within the framework of activating and enhancing the role of business building studios in the entrepreneurship and venture capital system by building pioneering companies that achieve financial sustainability and growth to contribute to the development of the national economy.”
Role of the Venture Capital and Private Equity Association:
The association works to enhance the attractiveness and role of the venture capital and private equity sector and raise awareness of investment opportunities in the Kingdom through:
- Launching effective programs.
- Organizing meetings and dialogues.
- Conducting research and publishing fresh articles.
- Organizing regular meetings.
Role of BIM Ventures:
BIM Ventures aims to build and innovate successful and sustainable companies by:
- Leveraging expertise, resources, and knowledge networks.
- Carefully selecting bold ideas and validating their viability.
- Launching them to become integrated companies.
Impact of the agreement:
This agreement is expected to contribute to:
- Enhancing the venture capital and entrepreneurship ecosystem in the Kingdom.
- Creating more opportunities for investors, entrepreneurs, and startups.
- Supporting the growth and development of startups.
- Fostering national economic development.
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