CAIRO: Saudi Arabia is becoming a global leader in women-led small and medium-sized businesses due to a notable upsurge in female entrepreneurship.
This expansion coincides with the flourishing entrepreneurial scene in Saudi Arabia, where SMEs are assuming a more prominent role.
The Kingdom’s dedication to economic diversification is demonstrated by the 1.27 million SMEs it had by the third quarter of 2023, according to Monsha’at, the Saudi body in charge of the industry.
In an interview with News, Stephanie Nour Prince, a partner at the Riyadh- and Dubai-based venture capital firm Nuwa Capital, discussed the significant change in the Kingdom’s business climate for women.
As the Kingdom forges ahead with its technological revolution, female entrepreneurs like Nour Taher, co-founder of the Saudi-based artificial intelligence startup Intella, are making significant strides toward success. Under her leadership, Intella has experienced remarkable growth, secured multiple funding rounds, and moved its headquarters from Egypt to Saudi Arabia.
In light of this development, Taher told Arab News, “It’s encouraging that more and more women are pursuing and succeeding in various business fields, especially technology.” This change is altering sectors of the economy previously dominated by men and ushering in a new age of entrepreneurship.
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