Technology startups incubated by the Badir Program, one of the main initiatives of King Abdulaziz City for Science and Technology (KACST), have successfully raised more than SR48 million ($12.79 million) during the year 2017.
This was through 15 funding deals led by supporting venture capital firms, individual investors’ networks and governmental institutions, recording a 64 percent increase in comparison with the previous year.
Funding by venture capital firms amounted to SR34.5 million approximately, which was divided into five startups. Individual investors funded eight companies with SR11.89 million, while funding by the Social Development Bank reached SR1.9 million approximately in the form of loans presented for the benefit of two startups.
As a result of the “Demo Day” event organized by the Badir Program three times a year for the purpose of joining startups with investors, the concluded deals amounted to half of the number of investment funding deals after announcing eight deals amounting to SR12.4 million approximately. Seven deals were concluded outside the competitive enterprises showcase with an overall value of SR35.8 million approximately.
It is likely that the overall size of investment funding of startups will increase after disclosing the results of the third edition of the “Demo Day” event, which was held last month.
“Demo Day” aims at presenting, studying and facilitating the funding of promising investment opportunities among the technology startups incubated by Badir.
Nawaf Al-Sahhaf, CEO of the Badir Program for Technology Incubators, said that several factors have contributed in increasing the size of funding this year, namely the rise in the number of funding and risk investment companies, lending platforms and individual investor networks, which have become increasingly active recently.
“Disclosing the deals of funding startups will result in raising awareness and transparency in relation to the funding environment within the local market, especially with the persistence of the funding gap affecting and hindering the companies in turning from an emerging company to complete commercial businesses capable of attracting investment capitals,” he said.
“We look forward to supporting startups which have the basic factors that enable them to make quantitative changes in the main technology sectors,” Al-Sahhaf added.
Saudi tech startups raise over $12.79m in 2017
Saudi tech startups raise over $12.79m in 2017
SAMINavantia launches new combat system ‘HAZEM Lite’
SAMINavantia, the joint venture between Saudi Arabian Military Industries and the Spanish company Navantia, announced the development of a new combat management system, “HAZEM Lite.” This solution is designed for low and medium warfare vessels, as well as vessels with space restrictions.
This achievement is the result of the efforts of Saudi engineers who worked on developing the new system at SAMINavantia’s Naval Systems Integration and Development Center of Excellence in Saudi Arabia.
The new “HAZEM Lite” system can be used and installed on new ships or integrated into the existing systems of modern vessels. The new system is one of the latest technologies in combat systems, derived from the HAZEM CMS, but specifically tailored for smaller vessels, while maintaining the key features of the original HAZEM system. These include providing an open, scalable, customizable, and interoperable solution that is proven effective and robust.
Dr. Mohammed Al-Qahtani, chairman of SAMINavantia, said: “The new ‘HAZEM Lite’ system is the result of intensive development efforts by Saudi engineers, aimed at designing a simplified version of the advanced combat management solution previously used in the Sarawat-class vessels, by creating smaller platforms with different missions and capabilities. Additionally, ‘HAZEM Lite’ is the first product developed in the Kingdom, addressing the need to enhance the small vessel category. This achievement is part of SAMINavantia’s contribution to localizing over 50 percent of military spending by 2030, one of the key objectives of Saudi Vision 2030, as well as actively participating in the development of skilled technical workforce capabilities in Saudi Arabia and providing world-class combat system solutions.”
The achievement also aligns with the efforts of the General Authority for Military Industries to localize military spending in the Kingdom.
SAMINavantia’s efforts contribute to enhancing the readiness of the Royal Saudi Naval Forces, the Border Guard, and other local or regional clients, in line with the strategic objectives of Saudi Vision 2030. This is achieved by launching a new era of advanced and effective defense capabilities to meet current and future challenges, while strengthening the national military industrial base.
Najm wins ‘Best Call Center’ award at Saudi CX Awards
Najm for Insurance Services has been awarded the prestigious “Best Call Center” award in the category of companies with more than 1,000 employees, at the Saudi Customer Experience Awards ceremony, held on Nov. 13 in Riyadh. The event was attended by a group of business leaders, prominent figures, and professionals from across the Kingdom’s government, private, and nonprofit sectors.
This recognition is a testament to Najm’s ongoing efforts in enhancing its call center and elevating the level of service it provides for vehicle insurance beneficiaries across the Kingdom. Handling more than 3 million calls annually, Najm’s call center achieves record response times through a range of electronic channels, contributing to a high customer satisfaction rate of 85 percent. Overall, Najm provides more than 35 million services annually across all its channels with a service level of 99 percent.
Mohammed Y. Al-Shehri, CEO of Najm, said: “Winning the gold award and achieving first place for Best Call Center in the Kingdom not only validates our efforts but also motivates us to continue innovating and striving to enhance customer satisfaction.”
Al-Shehri highlighted Najm’s commitment to creativity, innovation, and the adoption of modern technologies to enrich the customer experience, streamline processes, and drive digital transformation across its operational processes and technical systems, ensuring fast response times and high-quality services for its customers.
“This accomplishment reflects the company’s strategic digital transformation, with all operations now managed through advanced AI-supported systems. Our automation rate for accident procedures has reached 95 percent, marking a qualitative leap in service efficiency,” he added.
At the Saudi Customer Experience Awards ceremony, organized by the Saudi Customer Experience Association and its partners, Ajil Al-Jarba, vice president of marketing and sales at Najm, made a presentation on digital transformation and customer experience.
Al-Jarba highlighted the growing importance of exceptional customer experiences, saying: “In today’s world, data-driven insights enable companies to create personalized, engaging experiences, making customer experience fundamental to economic and social development. Digital transformation is essential for companies seeking excellence and aiming to improve customer experiences by offering innovative and digital services.”
He added: “Digital transformation is a key element of Najm’s strategy, which has led to a significant advancement in how services are delivered, and customer experiences are improved on various levels, whether for individuals or partners. Our transformation aligns with Vision 2030 objectives, including the Quality of Life Program and the Financial Sector Development Program. Therefore, Najm has restructured its strategy, adopting the best-in-class professional and marketing standards, which have contributed to empowering the insurance sector and improving service quality for policyholders and beneficiaries, especially vehicle owners.”
The Saudi Customer Experience Awards is a platform that celebrates excellence in customer service across the Kingdom. This year, Najm competed in 27 different categories.
Rheem Middle East wins awards for sustainability
Rheem Middle East, a sustainable industry leader in heating, ventilation, air conditioning and water heating solutions, has garnered significant attention at the Climate Control Saudi Awards 2024 — the inaugural edition of CPI Industry’s awards in Saudi Arabia. The company secured multiple accolades in recognition for its commitment to fulfilling its social responsibilities and playing a pivotal role in promoting sustainable, energy-efficient solutions, particularly in Saudi Arabia, where it prioritizes environmental and social impact.
Rheem’s award-winning solutions, also sold under the brands Ruud, Friedrich and Richmond, include their ducted inverter products, which earned the “Manufacturer Supplier of the Year” award and their commercial heat pump, which won the “Supplier of the Year for Water Heaters” award. Additionally, Rheem was honored with the “Dominique de Souza Award for Innovation,” celebrating the groundbreaking ProTerra Hybrid Heat Pump, a truly sustainable solution that is four times more efficient than standard water heaters, contributing to significantly reducing greenhouse gas emissions.
Beyond technological leadership, Rheem remains steadfast in its zero-waste commitment, coinciding with its 100-year anniversary in 2025. Rheem’s initiatives will see them reduce produced greenhouse gases by 50 percent, eliminate landfill waste completely and promote energy-efficient solutions globally. Since 2019, Rheem has already diverted more than 80 million tonnes of waste from landfills annually through their eco-friendly manufacturing plants, such as the one in the GCC.
“As our teams work toward achieving zero waste by 2025, we are happy to see our efforts being recognized here in the Kingdom. As the Kingdom leads the way with its sustainability goals under Vision 2030, Rheem also leads by developing environmentally conscious solutions with a sustainability-first approach and bringing them to key markets such as Saudi Arabia,” said Brian Hempenstall, vice president and general manager at Rheem Middle East. “We are on track to meet the sustainability goals we’ve set for our 100-year-anniversary coming up in 2025,” he added.
As a leader in environmental consciousness, Rheem aligns fully with the Kingdom’s vision of a cleaner future. The company has been recognized by the United States Environmental Protection Agency for four consecutive years with the Energy Star Partner of the Year — Sustained Excellence Award, due to its steadfast commitment to environmental protection through energy efficiency measures, organization-wide energy savings and continuous improvements from previous years.
New Murabba showcases future of urban living
New Murabba, a PIF company, highlighted its transformative vision for urban living at Cityscape Global 2024, one of the world’s largest real estate and urban development exhibitions, where it was the foundation sponsor. Inaugurated by the Ministry of Municipalities and Housing, the event was held from Nov. 11 to 14 under the theme “The Future of Living.” Held at the Riyadh Exhibition and Conference Center in Malham, Cityscape Global 2024 brought together more than 400 attendees, including global industry leaders, investors, and experts in urban development — all with the focus on shaping the future of real estate and architecture.
The event provided an unparalleled platform for New Murabba to connect with key stakeholders and investors and showcased the Kingdom’s rapid economic growth. The event’s emphasis on the future of living, asset horizons, and proptech aligns perfectly with New Murabba’s mission to create a vibrant, sustainable downtown that harnesses renewable energy, smart city technologies, and efficient resource management.
New Murabba welcomed Prince Turki bin Hathloul bin Abdulaziz, deputy governor of the Najran region, along with several dignitaries and guests at its pavilion.
They were received by CEO Michael Dyke and the company’s team, who provided an informative presentation on the destination’s latest advancements.
Dyke participated in a panel discussion exploring how sustainable investments can drive urban growth and improve quality of life.
“Cityscape Global 2024 is a remarkable opportunity to engage with visionary leaders, investors, and partners who share our commitment to creating a sustainable and dynamic urban future,” said Dyke. “New Murabba is proud to contribute to Riyadh’s evolution as a global city, offering an innovative approach to urban living that integrates advanced technology, sustainability, and community-centric experiences to create a vibrant, livable city.”
“By participating in this prestigious event, New Murabba will serve as a model for other developments across the globe, encouraging them to place sustainability and quality of life at the forefront of their development strategies,” Dyke added.
As Saudi Arabia seeks to position Riyadh among the world’s top 10 most livable cities, New Murabba is poised to play a crucial role in achieving this vision. The project aligns perfectly with the Kingdom’s ambitious development goals by embracing sustainability, advanced technology, and smart city concepts. New Murabba is set to attract foreign investors eager to participate in Saudi Arabia’s dynamic and expanding real estate market.
The AI revolution: Transforming advertising in MENA with innovation and authenticity
Artificial intelligence is reshaping advertising in the world, enabling brands to craft campaigns that are personalized, innovative, and efficient.
AI-driven personalization and targeting
Personalization lies at the core of AI’s transformative impact. The MENA region’s cultural diversity and varied consumer preferences demand highly tailored campaigns, and AI is meeting that challenge head-on.
A remarkable example is Coca-Cola Arabia’s 2022 campaign during the FIFA World Cup in Qatar. To boost reach and sales among Saudi Gen Z audiences, Coca-Cola collaborated with Google and EssenceMediacom to conduct affinity-based audience research. This led to the creation of over 30 personalized video ads using Google’s AI-powered Ads Creative Studio. These ads dynamically tailored visuals and messages in real-time to resonate with specific interests like gaming, soccer, and fashion.
The results were extraordinary: a video view-through rate of 46 percent (exceeding the planned 30 percent), a 42 percent cost-per-view saving, a 10 percent market share growth in Saudi Arabia, and a 22 percent increase in sales volume during the promotional period. These outcomes highlight how AI-powered targeting can achieve measurable business success.
Creative innovation with AI
AI is also transforming content creation, automating repetitive tasks and enabling brands to generate dynamic, high-quality visuals and videos. Tools like Runway ML have become integral in the region’s creative workflows.
In a project for a regional beauty brand, we used AI to generate visuals aligned with local beauty standards and cultural symbolism. The combination of AI and cultural understanding resulted in content that deeply resonated with audiences. Similarly, Anghami, MENA’s leading music streaming platform, uses AI to deliver personalized audio ads tailored to listener preferences, improving ad recall and brand affinity.
Building trust in advertising
As AI becomes integral to advertising, ethical considerations such as transparency and cultural sensitivity are paramount. In my work with a financial services provider, consumer resistance to AI-powered decision-making around data privacy required a proactive approach. By adopting IBM Watson OpenScale for transparency in AI models, we bridged the trust gap effectively.
Another notable example is TikTok’s use of AI-powered moderation tools that filter content in alignment with regional cultural norms. By combining AI with human oversight, TikTok ensures transparency while adhering to local regulations, fostering trust among users.
Future trends in AI-powered advertising
AI is driving several trends that will shape the future of advertising in MENA:
1.Predictive analytics for enhanced targeting
AI uses historical data to predict consumer behavior, allowing brands to tailor campaigns for maximum ROI.
2.Hyper-personalization of content
Real-time, highly personalized messages based on user behavior and demographics are significantly boosting engagement rates.
3.AI-generated creative content
Dynamic tools like DALL·E enable brands to quickly create visually engaging content, maintaining a fresh and consistent presence.
4.AI-optimized programmatic advertising
Machine learning ensures precise ad targeting and efficient use of budgets, revolutionizing ad buying.
5.Ethical AI and transparency
As regulatory scrutiny grows, brands are adopting explainable AI systems to build consumer trust.
While these trends highlight AI’s potential, challenges remain. Infrastructure inconsistencies across the region mean some markets are thriving with AI solutions, while others struggle with basic digital integration. Bridging this gap requires investment in digital education and partnerships with tech providers.
Strategies for marketers in MENA
In my experience, marketers in MENA must ACE their approach: Adapt, Conceptualize, and Engage. AI-driven advertising offers opportunities to stay competitive and deliver impactful campaigns. Key strategies include:
- Leverage advanced tools (Adapt): Use platforms like Meta Advantage+ and Google Ads Creative Studio to craft tailored campaigns. Creative automation tools like Smartly.io can ensure content freshness.
- Build data ecosystems (Conceptualize): Implement AI-powered customer data platforms like Tealium or Segment for deeper insights and strategy alignment.
- Focus on creative AI (Engage): Tools like Runway ML and Synthesia enhance storytelling by creating culturally relevant, visually consistent content.
- Adopt ethical practices: Build trust through transparent campaigns with tools like IBM Watson OpenScale to monitor AI fairness.
- Stay agile: Monitor and adjust campaigns using predictive analytics tools like Google Analytics 4 (GA4) or Datorama by Salesforce for real-time optimizations.
Conclusion
AI is revolutionizing advertising in MENA, unlocking new opportunities for personalization, creativity, and efficiency. While challenges like digital readiness and ethical concerns persist, the potential for AI to redefine advertising is immense.
Elon Musk once remarked, “AI is far more dangerous than nukes.” While this highlights AI’s power, I believe it can be a force for good — provided it is used with professionalism, transparency, and positive intent.
The future of advertising in MENA will be defined by a fusion of technological innovation and cultural sensitivity, paving the way for impactful and authentic brand storytelling.
- The writer is Safwan Kanj, managing director at EssenceMediacom — Saudi Arabia.
