By: Luciana Rhodes
São Paulo, Brazil – Last week, during the Saudi Startup 20 Brazil 2024 Side Event, Saudi Arabia, under the leadership of His Royal Highness Prince Fahad bin Mansour bin Nasser bin Abdulaziz Al Saud, signed a significant bilateral agreement with Brazil. The partnership, formed between Entrepreneurship Vision (Evision) and the Arab-Brazilian Chamber of Commerce (ABCC), aims to boost startup exchange and foster collaboration within the innovation ecosystems of both nations. The Memorandum of Understanding (MoU) focuses on enhancing trade, investment, tourism, and cultural exchanges between Saudi Arabia and Brazil. Represented by Mr. Osmar Chohfi, President of ABCC, and the Saudi delegation, the agreement further solidifies economic ties and supports the international expansion of businesses from both countries.
This MoU marks the beginning of a strategic alliance designed to empower both Saudi and Brazilian entrepreneurs as they embark on their global ventures. By building a robust foundation for startup growth, the collaboration will provide essential support for technological innovation and open doors to new markets. The agreement highlights Saudi Arabia’s commitment to strengthening its position on the global startup stage, while Brazil gains new avenues to expand its international market presence.
Photo Courtesy: Saudi Arabia Delegation at Startup20
Brazilian representatives, including Filipe Sabará, founder of ARCAH and former Secretary of Social Development of São Paulo, Romero Rodrigues, CEO of Headline, and Rodrigo Borges, founder of Buscapé, participated in panels and discussions, offering insights on how governments and venture capital can help drive innovation ecosystems forward.
His Royal Highness, Prince Fahad bin Mansour bin Nasser bin Abdulaziz Al Saud, described the partnership as a key milestone in enhancing Saudi Arabia’s influence in the global startup arena. He reaffirmed the Kingdom’s dedication to supporting entrepreneurs and investing in vital sectors, in alignment with the goals of Saudi Vision 2030.
The Prince also emphasized the critical role of NEOM as a hub for innovation. “NEOM’s visionary projects draw top talent and creative minds from across the world, offering an unparalleled environment for entrepreneurs and innovators in all fields. NEOM provides professionals, startups, and established companies a unique chance for extraordinary success through their participation in its growth,” he said.
Photo Courtesy: Saudi Arabia Delegation at Startup20
“NEOM is more than a futuristic region; it embodies a comprehensive vision for the future. By cultivating a culture of innovation and embracing non-traditional solutions, it aims to build a sustainable economy that addresses the urgent challenges of our time,” he added.
The collaboration with Brazil aims to foster not only innovation but also to open new investment channels and promote knowledge exchange between the two nations, providing Saudi entrepreneurs with opportunities to explore global markets and showcase their innovative solutions on a global stage.
“The Startup20 Engagement Group offers a unique platform to unite brilliant minds and cultivate an environment ripe for innovation, a cornerstone of our vision for the future,” Prince Fahad concluded.
This partnership underpins Saudi Arabia’s ongoing commitment to the goals of Vision 2030, particularly in diversifying the economy and driving the growth of small and medium-sized enterprises. The Saudi delegation, representing a wide array of sectors, continues to focus on expanding the Kingdom’s global presence in the startup ecosystem and promoting a sustainable, innovative business landscape.
Published by: Khy Talara
