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Raiven Capital Arrives in Riyadh to Judge $600,000 Startup Competition at LEAP, One of the Mideast’s Largest Tech Conferences
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Rhea-AI Summary
Raiven Capital, a global early-stage technology venture fund, recently participated in the LEAP tech conference in Riyadh, Saudi Arabia, judging a $600,000 startup competition. This event attracts over 400 speakers and 1,000 startups as part of Saudi Vision 2030. Raiven aims to nurture entrepreneurial growth in the region. Björn Öste from Oatly highlighted the impressive commitment to tech innovation. Raiven's Mideast tour also includes meetings in Oman and Dubai to finalize plans for their regional hub.
Positive
Participation in a major tech conference enhances visibility and networking opportunities.
Engagement in Saudi Vision 2030 aligns with long-term regional growth prospects.
A significant prize pool of $600,000 attracts innovative startups.
Negative
None.
Event is One Stop on Mideast Tour to Establish Raiven Capital in the Region
RIYADH, Saudi Arabia--(BUSINESS WIRE)--
Raiven Capital, a global early-stage technology venture fund, arrived in Riyadh to judge a $600,000 startup competition for LEAP, a 61,000 attendee, three-day tech conference that begins today.
The inaugural conference involves more than 400 speakers, 80 countries, and 1,000 startups. It is part of Saudi Vision 2030, the plan to diversify from fossil fuels and develop other sectors, especially its digital technology-based economies. A major part of this plan is to nurture its future entrepreneurial society.
Ninety startups are competing in the Rocket FuelStartup Competition, with a cash prize of $600,000. Startups will be judged on creativity, innovation, potential, functionality, and impact on people and society. There are four awards, with prizes ranging from $100,000 to $200,000.
“Raiven is excited to be here, to judge the most innovative startups from around the world, lead panel discussions, and meet investors and entrepreneurs. Nurturing early-stage companies is critical to growing the region into the future,” said Supreet Manchanda, General Partner of Raiven Capital.
“There is tremendous potential here and in the rest of the region,” noted Raiven Limited Partner Björn Öste, co-founder of Oatly, which raised $1.4 billion last year during its $10 billion IPO. “It is inspiring to see so many great innovations and the commitment to see the tech and food sectors grow,” he said.
The LEAP conference is part of a larger Mideast tour for Raiven, including Oman and Dubai, where Raiven is meeting with investors, their stealth portfolio company, and finalized plans for its license and eventual Mideast hub.
Raiven Capital is a global early-stage technology venture fund with roots in both Silicon Valley and Toronto. Raiven Capital focuses on opportunities in artificial intelligence, DLT and Internet of Things. Raiven actively seeks passionate founders developing companies that optimize value chains across cybersecurity, finance, energy, health, environment, and food sectors. Once growth is robust, Raiven exits its portfolio companies to later-stage capital in Silicon Valley and beyond.
