Under the patronage of His Royal Highness Prince Salman bin Sultan bin Abdulaziz, Governor of Al Madinah Region, the “Al Madinah Ventures” programme was officially launched today, marking a bold step toward positioning Al Madinah as a global hub for entrepreneurship, innovation, and investment.
The programme aims to establish a $10 million investment fund by 2025 to support startups, attract over 30 investors annually, and launch five new companies each year. This initiative is designed to drive job creation, stimulate innovation, and strengthen Al Madinah’s economic growth.
Led by Value Makers Studio in collaboration with the Economic Development Centre and the Madinah Chamber of Commerce, the programme seeks to unlock the untapped economic potential of Al Madinah, which is home to over 60,000 small and medium enterprises and contributes 7% of Saudi Arabia’s GDP.
Commenting on the initiative, Abdulrahim Shafie, CEO of the Economic Development Centre, said: “The Al Madinah Ventures programme is a significant step toward achieving the goals of Saudi Vision 2030 by fostering entrepreneurship and attracting investments that contribute to economic diversification. We focus on enhancing collaboration between the public and private sectors to create a dynamic and sustainable economic environment that transforms innovative ideas into successful projects.”
Dr. Ghassan Khalifa, Secretary General of the Madinah Chamber of Commerce, added: “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, emphasised: “This programme 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.”
With the extensive expertise of Value Makers Studio, which has invested in 10 startups valued at over $180 million, supported more than 350 entrepreneurs, and created over 800 jobs, the programme is founded on strong fundamentals. Initiatives such as The Bridge programme will enable international startups to enter the Saudi market, while SaudiPreneur will equip Saudi youth with the skills needed to establish impactful startups.
Al Madinah Ventures is more than just a programme; it marks the beginning of a new era for Al Madinah, positioning the city as a global platform for innovation, investment, and boundless opportunities.