Al Madinah Angels launches to revive entrepreneurial scene in the city

Al Madinah Angels launches to revive entrepreneurial scene in the city

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• 25 February, 2025

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• A consortium of investors has launched “Al Madinah Angels” to support the entrepreneurial landscape in Saudi Arabia’s Al Madinah Al Munawarrah, as part of Al Madinah Ventures Initiatives.
• The network is a collaboration between VMS, Al Madinah Chamber, and Numu Angels.
• The initiative is set to create new opportunities for businesses in Al Madinah Al Munawarrah, providing founders with the support they need to turn ideas into viable ventures and contribute to the region’s economic growth.
• Al Madinah Ventures, a $10 million investment fund, was launched in late 2024, initiated by Saudi Arabia’s Value Makers Studio, in collaboration with the Economic Development Centre and the Madinah Chamber of Commerce.

Press release:

The launch of the Al Madinah Angels marks a turning point for business growth in Al Madinah Al Munawarrah. This initiative brings founders with bold ideas and investors ready to back ventures that can drive meaningful economic progress, as part of Al Madinah Ventures Initiatives.

Established through the collaboration of VMS, Al Madinah Chamber, and Numu Angels, the network is built to fuel growth by offering more than just capital. It creates space for strategic partnerships, mentorship, and the support businesses need to grow, compete, and lead in an evolving market.

The launch event, held at the Al Madinah Chamber, gathered an inspiring mix of investors, founders, and business leaders, all united by one goal—fuelling innovation in Al Madinah. The spotlight was on introducing the concept of angel investing to the region and building a strong foundation for a community that actively supports early-stage startups and drives economic growth.

Mr. Motaz Abuonq, Founder of Value Makers Studio (VMS), captured the significance of the launch for the region’s startup scene:

“This is more than just a network—it’s a starting point for real change in Al Madinah. There’s incredible potential here, and this initiative is about creating space for that potential to grow. It’s about connecting ideas with the people who can help bring them to life.”

Eng. Fahad Almansour, founder of Numu Angels, reflected on the power of backing startups early in their journey:

“At Numu Angels, our vision is to build a thriving ecosystem where angel investors and startups grow together. This network is more than just funding; it’s about providing strategic guidance, access to valuable networks, and the mentorship that founders need to navigate the early, often challenging stages of their journey. By connecting entrepreneurs with experienced investors, we’re creating a platform where innovative ideas can transform into impactful businesses that contribute to the economic growth of Al Madinah and beyond.”

Dr. Ghassan Bin Reda Khalifa, Secretary General of Al Madinah Chamber, shared his excitement about how this initiative will impact local entrepreneurs:

“With the support of Al Madinah Chamber, this network marks a significant milestone for Al Madinah. It’s dedicated to empowering entrepreneurs by providing access to essential resources—whether it’s funding, mentorship, or meaningful connections that can help drive their business growth.”

One of the event’s most exciting moments was when five standout startups from Al Madinah Al Munawarrah took the stage to pitch their ideas to potential investors. Each presented bold, innovative solutions aimed at tackling real challenges and exploring new market opportunities. The presenting startups were Halala Plus, Zaghareed Delights, Rodud, Iqrarak, Bouk, and Faseelh. Their ideas showcased the depth of creativity and determination fueling Al Madinah’s startup scene.

This initiative is set to create new opportunities for businesses in Al Madinah Al Munawarrah, providing founders with the support they need to turn ideas into viable ventures and contribute to the region’s economic growth.