Iwan Ventures Invests 50 Million SAR in a Venture Builder
to Support Innovation in AI, Fintech, and E-commerce
Riyadh, Saudi Arabia – Iwan Ventures has announced the launch of a new Venture Builder initiative, focusing on supporting startups in Artificial Intelligence, Financial Technology (Fintech), and E-commerce with a targeted investment of 50 million SAR. This move aims to strengthen the entrepreneurship ecosystem in Saudi Arabia and drive innovation in alignment with the objectives of Saudi Vision 2030.
Lewa Abukhait, CEO of Iwan, emphasized the importance of this launch, stating: “Through the Venture Builder, we aim to support entrepreneurs in the Kingdom by providing an integrated infrastructure that enables them to establish sustainable business models capable of achieving long-term success.”
Abdulrahman Qandeel, Head of Business Development, added that the project aligns with Vision 2030’s goal to diversify the economy and stimulate non-oil sectors. He highlighted Iwan’s role in leveraging its accumulated expertise to support this ambitious project, reinforcing the Kingdom’s position as a regional hub for entrepreneurship and technology.
In this context, Hani Abdelwahab, a partner in the Venture Builder, noted that the initiative provides significant growth opportunities amid the substantial developments within the Kingdom’s entrepreneurship ecosystem. He added, “Our aim is to support distinctive startups that open doors to future exit opportunities or listing on the stock market through innovation and developing business models that align with economic and technological advancements.”
Through this project, Iwan Al-Riyada aims to promote innovation and entrepreneurship, affirming its commitment to offering essential support for Saudi entrepreneurs and achieving the ambitious goals set forth by Saudi Vision 2030.
