{"id":3086,"date":"2022-08-01T13:28:07","date_gmt":"2022-08-01T07:28:07","guid":{"rendered":"https:\/\/www.bnc24.com\/en\/?p=3086"},"modified":"2022-08-01T13:28:07","modified_gmt":"2022-08-01T07:28:07","slug":"aramcos-waed-allocates-60m-for-startups-in-2022-ceo","status":"publish","type":"post","link":"https:\/\/www.bnc24.com\/en\/world\/2022\/08\/01\/news\/3086\/","title":{"rendered":"Aramco\u2019s Wa\u2019ed allocates $60m for startups in 2022: CEO"},"content":{"rendered":"<figure id=\"attachment_3087\" aria-describedby=\"caption-attachment-3087\" style=\"width: 300px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-3087\" src=\"https:\/\/www.bnc24.com\/en\/wp-content\/uploads\/2022\/08\/aramco-1-300x171.jpg\" alt=\"\" width=\"300\" height=\"171\" \/><figcaption id=\"caption-attachment-3087\" class=\"wp-caption-text\">Wa\u2019ed is keen on supporting startups entering the Saudi ecosystem to fuel growth in line with the Vision 2030 blueprint. (Shutterstock)<\/figcaption><\/figure>\n<p>RIYADH, Broadcasting News Corporation : The Aramco Entrepreneurship Center, also known as Wa\u2019ed, has already spent $60 million as venture capital investments for Saudi startups this year as the country steadily diversifies its economy, disclosed a top official. Speaking on the sidelines of the second edition of the Fintech Accelerator Program in Riyadh, Fahad Alidi, the CEO of Aramco Entrepreneurship Center, said that Wa\u2019ed had during the event granted seed funding of SR50,000 ($13,312) each to three fintech startup firms. Alidi added that the organization had awarded at least SR150 million in venture capital to fintech firms over the past few years. He further stated that Wa\u2019ed had increased its ticket size from $5 million to $20 million to target later-stage funding rounds to partner with founders from the concept phase to the initial public offering.<br \/>\nAccording to him, Saudi Arabia\u2019s fintech companies are growing at a very accelerated pace. \u201cThese fintech companies continue to innovate. They continue to ride on the ease of regulations. As a result, they make my life, your life and everyone\u2019s life much easier,\u201d he said. During the interview, Alidi said that besides fintech, various other sectors had shown an appetite for considerable growth in the Kingdom. \u201cThere are opportunities in some sectors that we believe should receive more attention. From our end, we have been investing in the Internet of Things. We are very interested in IoT,\u201d Alidi told Arab News. He added: \u201cWe hope to see a pick up in sustainability, metaverse and Web 3.0 applications. We also hope to see more attention given to what we call underserved domains.\u201d Wa\u2019ed is also keen on supporting startups entering the Saudi ecosystem to fuel growth in line with the Vision 2030 blueprint. \u201cWe are with you from your first investment, from ideas throughout your growth journey until your IPO. So, we always present ourselves as your partner from the idea stage to the unicorn or the IPO,\u201d he further added. News collected from ARAB NEWS.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RIYADH, Broadcasting News Corporation : The Aramco Entrepreneurship Center, also known as Wa\u2019ed, has already spent $60 million as venture capital investments for Saudi startups this year as the country steadily diversifies its economy, disclosed a top official. Speaking on the sidelines of the second edition of the Fintech Accelerator Program in Riyadh, Fahad Alidi, &#8230;<\/p>\n","protected":false},"author":2,"featured_media":3087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/posts\/3086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/comments?post=3086"}],"version-history":[{"count":1,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/posts\/3086\/revisions"}],"predecessor-version":[{"id":3088,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/posts\/3086\/revisions\/3088"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/media\/3087"}],"wp:attachment":[{"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/media?parent=3086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/categories?post=3086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/tags?post=3086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}