Riyadh – Sharikat Mubasher: Jamal Alghamdi, Dean of Research and Studies Institute at the Saudi Electronic University, announced the launch of the University’s business incubator, which aims to enhance sports innovation by empowering startups and entrepreneurs in this particular field.
This was announced during the inauguration of the Saudi Sports Investment Forum (SIF), which opened in Riyadh today, bringing together senior leaders, decision-makers, and investors from around the world.
This incubator, Alghamdi added, will also provide mentorship and training programs as well as valuable investment opportunities, contributing to the creation of an encouraging, innovative environment within this field.
The event underscores Saudi Arabia’s ambition to position the sports sector as a key pillar of its national economy in line with Vision 2030.
In his opening remarks, Bader Alkadi, Deputy Minister of Sports, highlighted the Kingdom’s strong leadership focus on the sports sector, noting the direct supervision of Prince Abdulaziz bin Turki Al-Faisal, Minister of Sports. “Sports and investment are two sides of the same industry,” Alkadi said, adding that the forum serves as a vital platform to unite leaders and investors at a time of growing global interest in sports investment.
Ibrahim Al-Bakri, CEO of the Forum emphasized that Vision 2030 has placed sports at the heart of Saudi Arabia’s economic diversification strategy, identifying it as a promising and scalable investment sector.
Echoing that view, Ibrahim Almubarak, Assistant Minister of Investment, noted that since the launch of Vision 2030, Saudi Arabia has made significant progress across sectors. He revealed that the market value of the sports sector has reached SAR 32 billion (approximately $8.5 billion), reflecting the scale of growth and untapped opportunities in this dynamic industry.
The forum’s opening also saw the launch of Sakak Sports Investment Company, which announced plans to invest over SAR 50 million in sports and tech-related projects. Several other investment agreements were also signed during the event.
The forum comes amid a broader national push to elevate Saudi Arabia’s position in the global sports arena, both as a competitive player and a serious investment destination.