The Business Year

Saudi's crop of exciting young tech firms are not merely adapting some of the world's best practices, but often serving as incubators themselves.

Nawaf Attaf Alsahhaf

CEO, Business Incubator & Accelerator Company (BIAC)

BIAC’s core competencies lie in business incubation and acceleration services, which has allowed us to expand our business domain into several industrial sectors aligned with the national industrial strategy. In line with Vision 2030, we work with partners from different governmental sectors on establishing incubators in information technology, renewable energy, the water industry, and processed food manufacturing with the aim of reducing Saudi Arabia’s oil dependency, diversifying its economy, and developing its public service sector. BIAC shares Prince Mohammed bin Salman’s futuristic ambitions with regard to NEOM, as BIAC’s strategy supports the same sectors, which are energy and water, biotech, advanced manufacturing, and the applications of industry 4.0. In the water industry, BIAC has developed operating and funding models for Water Innovation Centers, which include water technology incubators and accelerators, a water innovation network, and a reverse engineering lab.

Ahmed Al-Bader

CEO & Founder, Sihatech

For the past two years, we have been determined to go global. Fortunately, the IMF invited us out to talk about fintech in the MENA region, which recognized our achievements in the finance, health, and technology world. This recent interest in us by investors made us more certain that our business model works. We anticipated that once it created value for people, it would be monetized, which is how it went. Aramco purchased a fair amount of equity and is now one of our partners. We look to work with medical facilities, as we align with other medical facilities throughout the country. The new funds will be used mostly to build more capacity, hire more staff, do more marketing, and deliver Sihatech 2.0—our new and improved product. Our goal is to “put care back into healthcare.“ Sihatech is a patient journey management service that delivers support from the minute of appointment all the way to diagnoses, tests, treatments, medication, and follow-ups.

Ahmed Ibrahim Alamri

CEO, Ahmed Ibrahim Alamri

We established Tawari toward the end of 2016. At the time, we decided to be as close to Vision 2030 as possible and knew the exact needs of the local market. We opened with two business lines: cybersecurity and big data analytics. We deal with highly sophisticated technology, which supports decision-making. In terms of cybersecurity, there are many companies in the local market that provide the same services as us. Studying the market, we decided to focus on certain niche markets, one of which is encryption technology services and security testing services. Encryption technology is an advanced subject, and Tawari has partnered with several companies with the experience and know-how in terms of developing and implementing encryption technology. When dealing with cybersecurity, we have to deal with huge amounts of data, and one of the complications is moving this data to the proper containers where it can be properly analyzed and patterns identified.

Khalid Al Muawad

CEO, Midwam

When we began in 2012 we saw an excellent opportunity for people to interact with digital content. In earlier times, people were more passive; they gave their attention to shared information whether it interested them or not. However, this changed when new technologies like smartphones came along: people lost interest in passive and static data. If you visit a museum today, there is often something to interact with. That is when we decided to introduce interactive technologies such as virtual reality, holograms, and augmented reality into the market; advanced technologies that are all about interactivity and engaging users with different sectors to gain the attention of target users. These interactive and immersive tools are also used in the education sector to increase students’ attention levels; in the industrial sector to obtain the focus of trainees; and in the entertainment industry to intensify the experience.

Ahmed Almuhaysini

CEO, AMAZ

Under the IT segment, we cover mobile apps, websites, e-commerce, and corporate systems for both IOS and Android. On the e-commerce side, we have developed systems for companies, mostly SMEs. What makes us unique is that we do everything in house—from logo design all the way to the last line of code. We start with the customer from step one, taking them through the entire operational process, and then handing off the entire project for them to carry on. In that sense, we function as an incubator as well. We have clients working with us in IT and marketing at the same time. We use all platforms including Google platforms for digital marketing, Facebook Ads, Snapchat Ads, as well as other third-party ads. Furthermore, we prepare annual reports for our clients. We deal with 36 third-party companies for data analytics and reporting in general. We have a content creation team for profiles, marketing, and ad copies as well as offline marketing. Many of our clients work with us on both the marketing and IT services end.

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