Report 13-15 sep (eng)

Riyadh, Saudi Arabia, 13-15 September

Report about Business Delegation

Photos / Companies / Results / Feedback

What is Business Delegation
from the Nexus Hub?

On September 13-15, 2023, C-level and Founders (residents of Nexus Hub) visited Riyadh, the capital of Saudi Arabia. The purpose of the trip was to have a series of interaction meetings with government and business representatives to provide insight, understanding of the business landscape, receiving feedback and insights, introduce to first customers and partners and provide a step-by-step roadmap of starting / relocating a business in the country.

Participants of the business delegation

C-level and founders from various industries
participated in the delegation

Report on organized meetings:

Ministry of Communications and Information Technology (MCIT)

We visited MCIT and had a meeting with the representatives of the NTDP program, through which companies can receive relocation grants of up to $1.5m. Many questions were answered and we were given the opportunity to send Fast track grant applications to the delegation members.

Ministry of Investment

We were welcomed at the Ministry of Investment Saudi Arabia (MISA) and answered questions on doing business in the country, obtaining licenses and how to open a company/branch.

Office of a successful b2b company

We visited the b2b office of Dsquares, a company that entered the Saudi market 2 years ago and provide loyalty program services. Andrey from our delegation, founder of CartaMe, agreed to start a strategic partnership. We learned the specifics of the market and cases of doing business in Saudis.

Meeting with Neom representative

At the end of the day we were accommodated at the five-star Crowne Plaza Hotel - Alexei from Neom joined us and shared with the delegation the secrets of doing business in Saudi Arabia and answered many questions.

Visit the CODE acсelerator

The next day we started with a visit to the government acсelerator The CODE. We were given a tour and presentations on the Saudi Arabian market, told about the ecosystem of 300 startups and answered our questions. Also, each participant personally met and discussed projects with The CODE representatives.

Visiting a trading company

Delegation participants met Alexey and his partner from UAE, who launched a business in Saudi Arabia 1 year ago. They answered questions and explained the nuances of entering the Saudi market.

Visit to Esnad

Esnad Financial Firm - representatives of Capital Market Authority (financial regulator), whose clients include more than 10 investment funds. Delegation participants got answers to their questions and learned how the market and regulation in Saudi Arabia, as well as the ecosystem of investment funds and accelerators work

Individual targeted meetings

During the business mission, the participants also had individual meetings scheduled by the Nexus Hub team: with Riyad bank, Fas Energy Holding, Dsquares and others.

Visit to a local company

On the 3rd day we visited local owners of 5 companies from different industries (IT/training/manufacturing). They shared what resources and contacts they have in Saudis and gave market entry advice to the participants.

Conferences and events

From September 10 to 13, 5 conferences were held in Riyadh. Participants of the delegation visited Index Saudi Arabia, Saudi Infrastructure Expo, SAUDI WATER EXPO 2023, Future Banks Summit, IAEE Expo before the start of the main program. As a result, they received first contacts of partners/clients and were convinced of the high business activity of Saudi Arabia

Meeting with Dr. Mikhailov

Scientific advisor to Saudi government companies, including PIF fund companies. Collaborated with KAUST (Royal Saudi Institute), shared his experience in using Research and Universities to increase confidence in technology and new companies in Saudi Arabia

Visit to the Diriyah

Also on the 3rd day we visited Diriyah. We walked around, took pictures, looked at museums and had dinner in a beautiful local restaurant. We were also joined by Nicholas and Elena who have been working in Riyadh for more than 1 year in large companies.

Results

What results did the participants
of the Business Delegation?

1
Goverment Relations
Established connections with representatives of Saudi Arabian ministries. An understanding of government support questions has developed. Applied for grants
2
Strategic Partners
Established relationships with local businesses for strategic partnerships and joint ventures and co-investments
3
Accelerators
We came to the accelerators offices, watched the presentation, met the representatives in person and applied for membership
4
Corporations and Companies
Met with CEOs and founders of companies - to understand the specifics of doing business in the country and learned the perspectives of their niches. Some of the participants started negotiations on joint cooperation.
5
Conferences and Events
Participation in major conferences allowed us to better understand business activity in the region and the competitive environment. Many participants themselves established connections with their first clients and partners.
6
New friends
Many made new friends and like-minded people. Both among other members of the delegation and among Saudis. Positivity accompanied us at all times) Got more reality about Saudi Arabia

We met with representatives of these KSA organizations
during the business delegation

Testimonials from Business Delegation participants

I congratulate all the participants and organizers on a successful business mission in Riyadh. Three very busy days gave us everything we needed to make decisions. And also helped us to make new friends!

Andriy Dylenok

founder of CartaMe

I send greetings to all participants of the mission 13-15.09 from Nizhny Novgorod and Moscow from ASP-Group, Forsyth, ASP-Aqua. There is a feeling that we were in the right place at the right time in a great company and great organizers. The inspirational work of the Nexus guys, the network of important multi-faceted meetings on the interaction of government, business and society in KSA really give insight, understanding of the business climate and outline the steps of starting/starting/relocating a business. Will definitely continue, get results and look beyond our horizons :) Way to go!

Nikolay Mayorov

ASP Group

Organizers team

The Nexus Hub team guides
business delegation participants

Ilona Karpinskaya
Founder of Nexus
Bachelor's and Master's degrees in law and finance. 5 years of experience in Pre-IPO and M&A transactions. Mentor and advisor in tech startups
Igor Glotkin
Founder of Nexus
Entrepreneur with 12+ years of experience. Expertise in M&A and VC. Experience in organizing international events with investors and entrepreneurs

Contacts

Тел. / Whatsapp: +966 56 556 1536
Email: info@nexushub.global

Office: Home Offices, PM34+R82, Al Urubah Rd, Al Ma'thar Alshamali, Riyadh, Saudi Arabia