Now one of the most anticipated annual events on the FHS Saudi Arabia and FHS World agendas, the Startup Den is a golden opportunity for entrepreneurs in the region’s hospitality industry to present their business model to an esteemed panel of judges and investors.

Applications can be submitted at Future Hospitality Summit – Saudi Arabia | Startup Den. Ten finalists – who will receive complimentary access to the event – will be selected to make their business case to the panel: Fahad Al Obailan, Group CEO, BAAN Holding; Khalid Alsatti, Senior Specialists, UN Tourism; Sundip Patel, CEO Ezdaher Financing Company and Ahmad Arab, Founding Partner, Horwath HTL Saudi.

Jonathan Worsley, Chairman of FHS organiser The Bench, said: “FHS Saudi Arabia is all about innovation, forward-thinking and sustainability, focussing on the opportunities and challenges today to help shape the hospitality industry of tomorrow. With KSA’s unprecedented tourism transformation as part of Vision 30 well under way and major events like Expo 2030 and FIFA World Cup 2034 drawing near, entrepreneurship is fundamental to the continued success and evolution of the country’s hospitality and tourism sector. We are delighted to offer this very special, unique opportunity to startups whose products and services will not only enhance, but potentially transform, the industry.”

Each finalist will have five minutes to present their concept, business model, and supporting data, with two minutes for judges’ questions. The winner will be announced during FHS.

FHS Saudi Arabia is also offering startups enhanced visibility with a dedicated stand, at a specially discounted rate.

The Startup Den is open to young businesses in the hospitality sector with a viable product or service. Companies must be less than three years old, have an annual revenue of under US$ 1 million, employ between 2 and 30 people, and have raised between US$ 450,000 to US$ 500,000 through seed or early stage funding. While the focus is on KSA businesses, companies from elsewhere are also welcome.

The FHS Saudi Arabia 2024 Startup Den winner was Sam Payrovi, Founder of ARKHAUS, the first floating social club of its kind.

Find out more, submit an application and view previous Startup Den winners at Future Hospitality Summit – Saudi Arabia | Startup Den.

FHS Saudi Arabia is at Mandarin Oriental Al Faisaliah, Riyadh, 11-13 May 2025, with the overarching theme of “Where Vision Shapes Opportunity”. More than 1,400 delegates are expected to attend.  For full details and to register, visit https://www.futurehospitality.com/sa

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What inspired you and your co-founder, Dr. Tarek Hegazy, to establish Opteam, and how does your combined experience influence the company’s vision?
Well, first of all, my father being a co-founder means I have a professional and personal answer to this question. The professional answer is that we both come from different sides of the same industry, which is extremely complimentary.

Dr Tarek has worked in and researched construction project management for 20+ years, while I spent my career in the business side of enterprise software, including project management. His industry knowledge and my business experience means we are very well equiped to take on this market.
On the personal side if I am being truly honest, it is an emotional and meaningful journey for me to take my father’s life’s work and contribute to his legacy.

Can you elaborate on how Opteam’s AI-driven construction management software addresses the specific challenges faced by the construction industry in the MENA region?
You might be surprised to learn that the MENA region suffers from the highest amount of time and cost overruns than anywhere else in the world! Although projects in the region are extremely innovative and ambitious, execution still relies on tools that were invented in the 70’s (around the same year the internet was invented).

It is both a well-researched conclusion and a known fact that proper tracking is the most effective way to combat delays. So Opteam uses AI to automate the extremely manual process of collecting progress data from the site. Basically, the system communicates with the team over WhatsApp and dashboards and reports the latest status in the most reliable and least intrusive way possible.

With the recent pre-seed funding, what are your immediate priorities for enhancing Opteam’s AI capabilities and expanding your team?
Our goal now is to drive sales and adoption of Opteam primarily in the UAE. As we have recently launched the product and have current users, it is critical for us to continue to shape the solution according to the needs of the industry. So our biggest priority is being active on the ground, marketing the product, engaging with customers and feeding the input directly to our tech team to fuel improvements. To that end, we are growing our dev team to keep up with the very fast pace.

How does Opteam’s generative scheduling feature work, and what advantages does it offer over traditional project management methods?
Given that over 70% of projects face unavoidable delays, a key question is not just how to prevent them, but also how to react effectively when they occur. Opteam’s generative scheduling feature allows project managers to generate new, alternate pathways to complete the project from any point in time. This allows them to generate scenarios that achieve their objectives within their resource limitations.
If you’ve seen the movie The Avengers, there is a scene where Dr. Strange peers into the future to view all the possible outcomes of the coming battle. This allowed him to identify the best outcome, and informed his decisions to make this result a certainty. That’s essentially what we’ve done for project management!

Could you discuss the strategic significance of your partnerships with investors like Plus VC, Dar Ventures, SIAC Ventures, and Oraseya Capital?
We at Opteam are extremely fortunate to have such a powerful lineup of investors. Each investor brings a unique value that is essential to our growth, and each one’s participation in our journey represents its own unique validation.

Dar Ventures is owned by Dar Al Handasah, one of the largest construction consultants in the region.
SIAC Ventures is owned by SIAC, one of the most strategic construction contractors in the region.
Oraseya Capital is owned by DIEZ, which has several construction projects for which they are the owner.
And, PlusVC is one of the region’s most active and well respected VCs, representing the business and startup world. This gives us critical access to finance, operational, sales/marketing, and other cirtical support and resources

What strategies are you implementing to establish and grow Opteam’s market presence in the UAE and Saudi Arabia?
The first thing is that Opteam is extremely consumable to use. Companies in UAE and Saudi can simply create an account on the website, and they get a free trial with unlimited features. To start using the software, they just drag and drop their schedule file. It’s that easy.

In addition to this, the strongest pathway to B2B startup success in this region is network. We are grateful that companies have been seeing such value that our inbound traffic is quite high and fills our pipeline with new opportunities.

How does Opteam’s platform integrate advanced data analytics, mobile progress tracking, and automation to optimize construction project outcomes?
Did you know that 15% of construction time is being spent looking for information? This is because of the heavy reliance on manual data entry, multiple tools, and spreadsheets being sent between the office and the construction site to collect progress. On average, just for an update to be preported, the process of collecting and organizing progress data takes 2 weeks.

Opteam automates communication to the people on the site, sending progress data straight to their mobile. This allows Opteam to give real-time dashboards and insights on the latest status, flag risks, and create recovery strategies for the project. On average, we see that the task of collecting progress can be simplified by up to 80%.

Looking ahead, what are your long-term goals for Opteam, and how do you envision your technology transforming the construction industry?
95% of construction data goes unused. We will most certainly target this data and invest more into our AI analytics capabilities. By doing so, countless manual and extremely expensive processes, such as analyzing delays, preparing claims, and more, can be automated.

The other area we are examining is creating a 3D visualization of the construction site. This would further reduce the gap between the office and the construction site teams and provide critical information when it is needed.

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Madfu is designed to alleviate financial pressures on individuals while supporting business growth. The fintech company offers a transparent and flexible BNPL model that enables consumers to make purchases with clear and transparent pricing, ensuring no hidden fees or interest in accordance with Sharia principles, with payment plans extending up to six installments. The company’s services are structured to benefit both customers and merchants, facilitating seamless transactions that promote financial well-being.

Dr. Ahmed Alwosheel, CEO of Madfu, commented, “Our goal has always been to offer financial solutions that are not only convenient but also sharia-complaint. With the increasing demand for BNPL services in Saudi Arabia, we wanted to ensure that our offerings align with Sharia principles, fostering trust among users. Our engagement with SRB has been instrumental in achieving this, as their extensive experience in Sharia supervision for fintech companies provided us with the necessary certification and assurance.”

Shariyah Review Bureau, a global leader in Sharia advisory and audit services, has been at the forefront of facilitating compliance for fintech firms. Its centralized Sharia advisory solutions support technology-driven financial companies, reducing compliance overheads while ensuring adherence to Islamic finance principles.

Yasser S. Dahlawi, Founder and CEO of Shariyah Review Bureau, stated, “The Kingdom of Saudi Arabia is witnessing significant growth in its fintech ecosystem, particularly in digital payment solutions. BNPL models have gained traction as they provide consumers with an accessible and interest-free alternative for managing expenses. We are pleased to support Madfu in its journey to offer a Sharia-compliant BNPL service, reinforcing trust and credibility in the evolving financial landscape.”

With the BNPL sector in Saudi Arabia expanding rapidly, Madfu’s Sharia certification marks a significant milestone in promoting Sharia-compliant and interest-free financial solutions. By ensuring compliance with Islamic financial guidelines, Madfu is well-positioned to drive further growth and innovation in the Kingdom’s fintech industry.

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Since the last funding round in October 2023, the financial services app has almost doubled its annualised transaction volumes to over $10 billion while growing profitability. The company recently acquired Tweeq, a Saudi-based digital wallet, expanding its product portfolio. It has introduced Tabby Card for flexible payments beyond checkout and Tabby Plus, a subscription program. Additionally, it has evolved its core buy now, pay later offering with longer-term payment plans, Tabby Shop to help users find the best deals, and Tabby Care, a buyer protection program.

The funds will be primarily used to accelerate the expansion of Tabby’s financial services, including digital spending accounts, payments, cards, and money management tools, while advancing Saudi Arabia’s Vision 2030 goals by driving the Kingdom’s cashless economy forward. This financing round positions Tabby strongly as it prepares for its upcoming IPO, signalling a pivotal step in its growth journey and reinforcing its ability to deliver the next generation of financial services across the Middle East.

Hosam Arab, CEO and Co-Founder at Tabby, said: “This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers. We’re focused on creating tangible impact—helping people take control of their finances with tools that are accessible, effortless and built for their everyday lives.”

Christopher Wu, Chief Investment Officer at Blue Pool Capital, said: “Tabby’s ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency sets them apart from other fintech companies globally. We are incredibly excited to support the team on their mission.”

Ahmed Al Qahtani, Chief Investment Officer for Regional Markets at Hassana Investment Company, said: “We are consistently impressed with Tabby’s remarkable ability to execute and build significant momentum in such a short time. Their unwavering dedication to delivering innovative products and solutions to customers reinforces our strong belief in Tabby’s bright future. We are excited to continue our partnership as they redefine the financial services landscape in the region.”

Tabby begins 2025 with more than 15 million registered users and over 40,000 sellers, driving an annualized sales volume of over $10 billion.

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The fund aims to support high-growth companies by providing capital and leveraging Artal’s expertise in value creation. Through accelerated business growth, market expansion, and strengthening corporate governance and controls, the fund aims to help portfolio companies achieve their profitability and scaling objectives.

The fund targets investments in companies that have reached the expansion and growth stage across the GCC, with a particular focus on Saudi Arabia. The fund focuses on investments in technology-enabled business models in sectors with strong growth potential and high innovation capacity, emphasizing digital solutions and post-investment value creation.

Dr. Nabeel Koshak, CEO and Board Member at SVC, said: “The investment in the private equity fund managed by Artal Capital is part of SVC’s Investment in Funds Program and an implementation of its strategy related to attracting fund managers to invest in Saudi-based companies and stimulating investment for growth stages.”

Rayan Alrasheed, CEO of Artal Capital, said: “SVC’s investment underscores the growing confidence in our strategy and investment approach. We believe this will accelerate the growth of the fund’s portfolio companies while contributing to the broader development of Saudi Arabia’s investment ecosystem. ”

SVC is an investment company established in 2018. It is a subsidiary of the SME Bank, part of the National Development Fund. SVC aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO through investment in funds and direct investment in startups and SMEs.

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This program will provide top-tier mentorship, access to investors, and business development opportunities to help participants transform their ideas into successful ventures. The three-month accelerator program will culminate in an Investor Mixer and Pitch Competition, where finalists will showcase their businesses to industry experts, investors, and key stakeholders.

Hatem Samman, TikTok’s executive Director of Government Relations and Public Policy in Saudi Arabia, stated: “Startups and SMEs are vital to the Kingdom’s economic growth, and through this program, we are equipping young founders, particularly women, with the resources, mentorship, and exposure they need to succeed. With 55% of SMEs recognizing TikTok as a key motivator for young entrepreneurs and 61% reporting increased brand awareness, we see firsthand how digital platforms like TikTok are transforming the startup landscape in Saudi Arabia. As the Kingdom continues its journey toward a thriving, diversified economy, we are proud to play a role in empowering the entrepreneurs of today to build the industries of tomorrow.”

Blossom Accelerator’s CEO and Founder, Emon Shakoor added: “Saudi Arabia is witnessing a groundbreaking shift, and entrepreneurship is at the heart of this transformation. The ‘TikTok x Blossom SME Empowerment Program’ is a testament to our commitment to inclusion, job creation, and fostering a thriving private sector aligned with Saudi Vision 2030. By empowering startups and SMEs, we are building the foundation for innovative companies in emerging sectors that will drive of our nation’s future. We are honored to partner with a global leader like TikTok to bring this vision to life, creating opportunities that will drive economic diversification, inspire new industries, and shape a resilient, inclusive entrepreneurial ecosystem for generations to come.”

Applications for the ‘TikTok x Blossom SME Empowerment Program’ will open March 16, with selected startups set to begin their journey in June 2025. Entrepreneurs interested in participating can find more details and apply at http://www.blossom.sa/tiktok.

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CQR, pronounced “Secure,” is setting a new industry standard by shifting OT cybersecurity from traditional service-heavy models to scalable, AI-driven, product-based solutions. At a time when the IT-OT convergence is exposing industrial environments to heightened cyber threats, CQR is redefining how mission-critical operations are protected—eliminating costly downtime risks, ensuring regulatory compliance, and enabling organizations to deploy cybersecurity solutions at scale without requiring deep expertise.

Unlike conventional security firms that rely on service-heavy, resource-intensive approaches, CQR is empowering industries with cutting-edge, easily deployable cybersecurity products that integrate AI-powered threat detection, risk scoring, and automated response mechanisms. CQR’s flagship product is designed to address the complex cybersecurity needs of national infrastructure and industrial giants. It offers:

• Instant threat detection and response tailored to OT environments.
• Regulatory-compliant security solutions that align with Saudi Arabia’s OTCC standards and global ISA guidelines.
• Seamless integration with existing systems, minimizing operational disruptions.
• Automated risk mitigation strategies, reducing the need for specialized cybersecurity teams.

“Cyber threats in OT environments are evolving rapidly, and traditional security models are no longer enough. At CQR, we are reengineering cybersecurity for industrial operations—building innovative, product-driven solutions that make OT security accessible, efficient, and highly scalable,” said Naser Aldossary, Founder & CEO of CQR. “This investment will accelerate our ability to scale, expand our AI capabilities, and ensure that industries dependent on OT systems remain resilient against emerging threats.”

Shorooq’s decision to lead this funding round is a testament to CQR’s market leadership, technological excellence, and strategic importance in the cybersecurity ecosystem. “Our investment in CQR aligns with our vision to support transformative technology companies that address critical industry challenges,” said Yousef Albabtain, Partner at Shorooq. “CQR’s product-driven cybersecurity approach is disrupting a traditionally service-heavy industry, making OT security more accessible, efficient, and scalable. We believe their solutions will become an industry standard, and we are excited to support their growth.”

CQR operates at a time when nation-state actors and cybercriminal groups are aggressively targeting critical infrastructure. A single cyberattack on OT environments can cause catastrophic financial losses, operational shutdowns, and even national security threats.

With deep industry expertise rooted in its leadership team’s experience at Aramco, Dragos, and other leading OT security firms positions the company as the preferred cybersecurity partner for governments, industrial giants, and regulated sectors.

“Every nation must cultivate its own cybersecurity expertise. OT Cybersecurity is not just an IT concern it is a matter of national security,” said Pierre Noel, former CSO of Microsoft Asia and Worldwide CISO of Huawei. “CQR’s approach represents the future of OT security intelligent, product-driven, and built to secure the backbone of modern industry.”

With this new round of investment, CQR is positioned to scale its AI-driven cybersecurity solutions, expand its presence across the MENA region, and fortify more industries against evolving threats.

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The FutureSpark Base Camp application process was exceptionally competitive, with an acceptance rate of less than 2%. The cohort comprised teams from countries including Saudi Arabia, the United States of America, the United Kingdom, the United Arab Emirates, Portugal, and the Marshall Islands.

The select group of high-potential projects were chosen to participate, representing diverse sectors including Gaming, Artificial Intelligence (AI), Payment Solutions, Real World Assets (RWA) and Digital Identity, playing critical roles in shaping the future of the internet and directly aligning with our Post Web thesis.

Launched in October 2024 in Riyadh, the FutureSpark Base Camp aimed to support the founders, creating a program that helped drive the growth and development of the selected startups. Outlier Ventures evaluated and advanced startup teams in the areas of token design, engineering, legal, marketing, finance, and more along with networking opportunities and guidance from mentors. The cohort also attended an intensive four-day workshop held in NEOM in January.

The accelerator program concluded in Riyadh with an in-person Demo Day, where startup founders from Astra Nova, Byzanlink, Feed Protocol, Kodex, LIFT, Ouroboro Labs, Sorbet, Waslah and YalGamers, showcased their vision to a packed audience of 200+ distinguished guests, including investors, venture capitalists, and key government representatives.

Prominent speakers at the event included Ibrahim Neyaz, CEO of the National Technology Development Program (NTDP), and Stephan Apel, Founding Partner and CEO of Outlier Ventures. The program also organised a virtual Demo Day in February, offering the cohort an opportunity to present to a global audience.

Stephan Apel said: “The FutureSpark program supported an incredible cohort of founders in the Kingdom backed by our leading Web3 experts. It has been fantastic to see founders’ progression over the 12-week program and we look forward to seeing their continued growth. The heart of the FutureSpark Base Camp is the passion of Web3 that drives the ecosystem. It is an honor for Outlier Ventures to launch its first Middle East accelerator in the Kingdom and to partner with such prestigious institutions as NTDP and NEOM who are continuing to support the founders in their journey. It is great to see this continued collaboration and we look forward to the ongoing success from the cohort.”

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As SMEs in Saudi Arabia continue to innovate and expand, the Mastercard SME Confidence Index serves as a key benchmark for understanding their dynamic needs.

A significant majority (93%) of the SMEs surveyed in the Kingdom are confident about the next 12 months. Business owners are recognizing the critical role of seamless and secure transactions in today’s marketplace while prioritizing the adoption of advanced data analytics and insights, viewing these tools as essential for informed decision-making and strategic growth.

“Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience. As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth,” said Dimitrios Dosis, president Eastern Europe, Middle East and Africa, Mastercard.

“The confidence among SMEs in Saudi Arabia highlights the strength and adaptability of this sector. As businesses continue to embrace digitalization and new technologies, access to secure payments, data-driven insights and financial solutions will be key enablers of their success. At Mastercard, we remain committed to supporting SMEs with the tools, partnerships and innovations they need to grow and contribute to the Kingdom’s evolving economy in line with the objectives of Vision 2030,” said Adam Jones, division president, West Arabia, Mastercard.

Digital payments as a cornerstone of SME growth
The widespread adoption of digital payments among Saudi SMEs underscores a strategic move towards efficiency and customer satisfaction. With 99% of the SMEs surveyed in Saudi Arabia now accepting digital payments – an increase from 88% in the Mastercard SME Confidence Index 2023 – business owners are leveraging digital transactions to fast-track their growth.

SMEs cite enhanced credibility with government and financial institutions (56%), streamlined transactions with suppliers and employees (55%) and faster access to revenues (55%) as the top benefits of a digitized economy.

Harnessing data and analytics for strategic advancement
In an increasingly data-driven world, 97% of the SMEs surveyed recognize the importance of better data, analytics and insights in strengthening their businesses. This approach enables enterprises to optimize operations, enhance decision-making and unlock new market opportunities, contributing to long-term resilience and growth.

The study also found that as digitalization accelerates, business owners are prioritizing secure, user-friendly and data-driven financial solutions to stay competitive in a rapidly evolving market.

Saudi SMEs prioritize innovation and digital inclusion for growth
As Saudi Arabia’s SME sector continues to evolve, business owners are focused on leveraging innovation and expanding digital inclusion to sustain long-term growth. Many SMEs see artificial intelligence (AI), automation and digital platforms as essential tools for streamlining operations and enhancing customer engagement. According to the Mastercard SME Confidence Index, 72% of the SMEs surveyed have identified AI adoption as a key priority, reflecting a growing emphasis on digital transformation.

Private sector collaboration is also viewed as a key driver of success, with 66% of the SMEs surveyed highlighting the importance of partnerships in gaining access to financial resources, technology and business insights. Additionally, as businesses embrace digital transformation, 97% of the respondents believe cybersecurity and regulatory support remain top considerations for ensuring a secure and resilient commercial environment.

Aligning with Vision 2030’s emphasis on economic diversification and SME empowerment, Mastercard last year announced the launch of a local technology infrastructure to process e-commerce transactions efficiently, reinforcing its position as an enabler of Saudi Arabia’s digital economy. Under the patronage of the Saudi Central Bank (SAMA), Mastercard Gateway continues to enhance the Kingdom’s digital payments ecosystem, providing businesses with seamless, secure payment solutions to drive growth and innovation in the ecommerce sector.

Additionally, Mastercard joined forces with Saudi Awwal Bank (SAB) to introduce the SME Business credit card that enables small businesses to manage their finances efficiently while facilitating access to credit.

As Saudi Arabia’s SMEs continue to innovate and expand, Mastercard remains dedicated to providing the necessary support through advanced technology, strategic partnerships and tailored solutions.

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This investment will support PIESHIP‘s expansion plans in the Saudi market. The company aims to extend its operations to 7 major cities, including Jeddah, Mecca, Medina, Dammam, Khobar, Qassim, and Khamis Mushait. Additionally, PIESHIP plans to increase the number of registered drivers in its network to 5,000, which will enhance delivery efficiency and provide more flexible solutions to the logistics sector.

Nasser Al-Harithi, co-founder and CEO of PIESHIP, commented: “Closing our seed funding round, led by Nama Ventures, reflects investors’ confidence in our vision and strategy. We will continue to invest in developing our logistics technologies using artificial intelligence to manage the driver network, enabling us to provide faster and more efficient services, and enhance the customer experience for last-mile delivery companies.”

For his part, Mohammed Alzubi, founder and managing partner at Nama Ventures, stated: “At Nama Ventures, we believe in the importance of supporting startups with a clear vision and the ability to make a real impact. PIESHIP has proven its ability to provide innovative solutions to the last-mile sector, and we are proud to lead this investment round and contribute to driving the company towards further success and growth.”

In the coming period, PIESHIP will focus on enhancing the user experience by improving tracking and communication systems, and launching new services that support the logistics sector. The company will also continue to develop advanced artificial intelligence solutions for fleet management and data analysis, with the goal of improving delivery efficiency and reducing delivery times.

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