A new wave of entrepreneurial support has arrived in Al Madinah Al Munawarrah, Saudi Arabia with the launch of Al Madinah Angels, a consortium of investors dedicated to fostering business innovation in the region. Part of the Al Madinah Ventures Initiatives, this network is the result of a collaboration between Value Makers Studio (VMS), Al Madinah Chamber, and Numu Angels.
A Network for Growth and Innovation
The initiative goes beyond funding—offering mentorship, strategic partnerships, and guidance to help startups navigate their early stages. By creating an ecosystem where ideas can thrive, Al Madinah Angels aims to revitalize the local entrepreneurial scene. Additionally, it wants to position itself in Al Madinah as a competitive hub for business innovation.
The launch event, hosted at Al Madinah Chamber, brought together investors, founders, and business leaders. In effect, all focused on strengthening the city’s startup ecosystem. A key part of the event was introducing angel investing to the region. Therefore, laying the foundation for a strong network of early-stage startup supporters.
Backing Visionary Entrepreneurs
Speaking at the launch, Motaz Abuonq, Founder of Value Makers Studio (VMS), emphasized the importance of this initiative:
This is more than just a funding network—it’s about creating an environment where innovation can thrive. Al Madinah has immense potential, and this initiative connects bold ideas with the resources needed to turn them into reality.
Similarly, Fahad Almansour, Founder of Numu Angels, highlighted the critical role of angel investors:
Startups need more than capital; they need guidance, networks, and mentorship. Through this initiative, we’re creating a space where entrepreneurs can receive the support necessary to scale their businesses and contribute to Al Madinah’s economic growth.
Dr. Ghassan Bin Reda Khalifa, Secretary General of Al Madinah Chamber, stressed how this effort aligns with the Chamber’s mission:
With our support, this initiative will empower entrepreneurs by granting them access to the financial and strategic resources needed for sustainable growth. We are excited to see the transformation it will bring to Al Madinah’s business landscape.
A Stage for Innovation
One of the most exciting moments of the event was the pitch session, where five promising startups—Halala Plus, Zaghareed Delights, Rodud, Iqrarak, Bouk, and Faseelh—presented their ventures to potential investors. Their innovative solutions showcased the creativity and ambition driving Al Madinah’s growing startup ecosystem.
A Step Toward Economic Transformation
The Al Madinah Angels network is expected to be a game-changer for the city, providing startups with the capital, expertise, and connections they need to scale. It aligns with Saudi Arabia’s broader vision of fostering economic diversification and supporting SME growth.
With Al Madinah Ventures—a $10 million investment fund launched in 2024—already in place, this initiative is another crucial step in turning Al Madinah into a thriving entrepreneurial hub.
