Venture capital supports growth and diversification of the economy in Medina

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Venture capital supports growth and diversification of the economy in Medina

The economic bulletin issued by Madinah Chamber The growing role For venture capital to support economic growth and diversify the economic base in the Madinah, in light of the exceptional performance recorded by the Vintage investment in the Middle East and North Africa region, which reflects the strength of the investment environment, and opens promising horizons for regions with competitive advantages, most notably the Medina region.

Attractive elements for venture investment

The bulletin indicated that the Medina region possesses attractive elements for venture investment, in light of its religious and tourism status, and its reception of millions of visitors annually, which provides investment opportunities in the tourism, hospitality, transportation, and services sectors. Logistics, e-commerce, health care, education, food industries, and other vital sectors.
She stressed that bold investment contributes to enabling local startups to grow and expand, attract entrepreneurs and investors, and stimulate innovation in services, especially related to Hajj and Umrah, in addition to supporting local value chains and strengthening the connection of small and medium enterprises with the digital economy.

Economic Bulletin of The role of venture capital in promoting economic growth in the

An appropriate environment for promoting innovation

The bulletin stated that the Medina region, with its universities and research centers, including Taibah University, the Islamic University, and Prince Muqrin University, possesses an appropriate environment for promoting innovation and supporting emerging technical companies emerging from scientific research, in a way that contributes to developing human capital and raising the efficiency of national cadres.
It stressed that enhancing the impact of venture capital In the region, it is necessary to develop specialized business incubators and accelerators, build effective partnerships between the public and private sectors, and spread the culture of entrepreneurship and investment among young people, in a way that supports the goals of the Kingdom’s Vision 2030.
The bulletin indicated that building a local venture capital system in the Medina region represents an important pillar for promoting sustainable economic growth, diversifying sources of income, and enhancing the region’s position as a promising economic and development center.