Prince Khaled bin Alwaleed bin Talal Al Saud recently imparted words of caution regarding the challenges of achieving success in the Saudi Arabian market, emphasizing the critical need for investment and commitment.
Speaking at the ‘Venture Capital View’ panel during the third annual Red Sea Food Tech Connect in Riyadh, he debated alongside Abdulrahman AlJiffry from 500 Global.
The Prince, serving as CEO of KBW Ventures, remarked, Saudi is shrewd with its investments – we are cognizant of our actions. As such, triumph in our market isn’t handed out; it must be earned through tangible investment and active participation in our business ecosystem.
The conversation further delved into Prince Khaled’s investment ventures in various sectors, particularly spotlighting his support for food technology, alternative proteins, and his current ventures in growth-stage financing.
The Red Sea Food Tech Connect, which was supported by the Ministry of Environment, Water, and Agriculture (MEWA) through its Sunbolah Program and sponsored by Jahez, emerged as a pivotal event for the agricultural and food sectors, attracting participants from across the region.
High-ranking MEWA officials, including Vice Minister Eng. Mansour Mushaiti, highlighted the importance of innovation within these sectors. Dr. Ali Alsabhan, General Manager of Entrepreneurship, discussed the Sunbolah initiative and the agricultural value chain.
Prominent Saudi figures such as Dr. Mohammed Alnuwairan, CEO of NCPD, Dr. Sulaiman Altwaijri, CEO of NADEC Food, Dr. Mazen Alzaidi, General Partner at STV, and Samer Alsourani, SVP at SALIC, contributed to the discussions. Organizations like The National Center for Palms and Dates (NCPD), Nadec, Calo, and PIF company SALIC showed substantial backing for the event.
Eng. Mohammed AlQurashi, the founder of Red Sea Food Tech Connect, highlighted the international dimension of the event, with attendees from the UAE, Bahrain, Kuwait, Egypt, Jordan, Australia, France, and more. He also acknowledged the crucial support from MEWA in spurring entrepreneurship.
The event underscored Saudi Arabia’s rising influence in the global food innovation scene, facilitated by strategic partnerships and investments. Red Sea Food Tech Connect has become a linchpin in promoting dialogue and collaboration within the food technology domain, setting Riyadh up as a burgeoning hub for innovation and industry leadership.