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In December 2024, a delegation from Montenegro embarked on a transformative study visit to the Kingdom of Saudi Arabia (KSA). The goal? To explore KSA’s thriving innovation ecosystem, establish connections with key IT and entrepreneurial stakeholders, and gather inspiration for future initiatives.
From the historical landmarks of Riyadh to bustling hubs of technological advancement, the Kingdom showcased a unique blend of rich heritage and cutting-edge innovation. The visit, which took place from December 6 to 12, offered a comprehensive insight into Saudi Arabia’s economic and entrepreneurial dynamism.
The itinerary was filled with high-impact engagements. On the second day, the delegation held a pivotal meeting with the management team of MEDCO, gaining valuable insights into how the Kingdom of Saudi Arabia fosters business growth and innovation.
A highlight of the visit was the meeting with the Ministry of Communications and Information Technology (MCIT), held on December 8, 2024. This meeting marked a key moment of the study visit, offering a deep dive into the Kingdom’s dynamic digital and entrepreneurial ecosystem.
The session brought together a distinguished panel of representatives, including Eng. Mohammed Alrobayan, Deputy Minister for Technology; Eng. Mohammed AlAriefy, Assistant Deputy Minister for Technology and Digital Startups Empowerment; and Eng. Ibrahim Neyaz, CEO of the National Technology Development Program (NTDP).
They were joined by other influential figures such as Abdulaziz AlHammadi, CEO of The Garage; Mohammed AlShabanah, General Director for ICT Investment Development; Afnan Ababtain, Director of Innovation and Entrepreneurship; and Gadah Almermesh, Director of Digital Content.
The session offered invaluable insights for the Montenegrin delegation, highlighting potential avenues for collaboration and showcasing inspiring strategies to strengthen Montenegro’s own digital ecosystem. With innovation serving as a driving force in Saudi Arabia, the meeting underscored the transformative impact of aligning technology with economic development.
Equally significant was the meeting with the Ministry of Investment of Saudi Arabia (MISA), held on December 11. The delegation explored Saudi Arabia’s approach to attracting global investments in the ICT and innovation sectors. MISA representatives presented an overview of the innovation and entrepreneurship landscape, as well as details on the Regional Headquarters Program (RHQ), designed to position Saudi Arabia as a central hub for international business operations. They also elaborated on the concept of the “Investor Journey” – a structured process that simplifies investment entry into the Kingdom.
These sessions provided valuable insights into how Saudi Arabia strategically leverages technology and policy to foster a business-friendly environment, opening doors for potential partnerships and knowledge transfer that could inspire Montenegro’s own efforts to boost innovation and economic development.
innovation hub. During the event, 19 startups participated in mentorship sessions with eight leading companies, creating a vibrant atmosphere of collaboration and knowledge exchange.
This gathering showcased the Kingdom’s strong commitment to fostering entrepreneurship and innovation through strategic partnerships and open dialogue between startups and established industry players.
isits to Boulevard World and Diriyah provided insight into the Kingdom’s efforts to connect culture and tourism with the growing technology sector. A meeting with the Ministry of Tourism further clarified the integration of the IT sector into Saudi Arabia’s emerging tourism initiatives.
The innovation ecosystem of Saudi Arabia stands as a testament to the ambitious Vision 2030, which emphasizes diversification, technology, and entrepreneurship. The delegation returned inspired by the Kingdom’s strategies for fostering innovation, strong support for startups, and the integration of tradition with advanced initiatives.
This study visit not only strengthened the ties between Montenegro and Saudi Arabia but also provided valuable lessons for building robust innovation ecosystems at home. As Montenegro continues to develop its entrepreneurial capacity, the Kingdom of Saudi Arabia serves as a strong example of what is possible when vision meets implementation.
Stay tuned, as these insights will fuel new projects and collaborations in the technological and innovation landscape of Montenegro!
