“The Garage”, Ecosystem for Startups, Introduced in Saudi Arabia
Photo: Maaal.com
Saudi Arabia recently presented the newest part of the flourishing ecosystem, named “The Garage”. It’s located within the King Abdulaziz City for Science and Technology and spans at 28,000 square meters, which warranted the title of the largest innovation district in the Middle East, according to the Saudi Gazette.
This innovation district, formerly a parking structure, accommodates more than 300 new businesses. It includes 24 revolutionary meeting rooms, event rooms designed to host at least 1,000 people, and workshop areas.
To this day, The Garage hosted more than 40 events, offering the opportunity for participation from 150 local and global startups. The turnout was more than expected: over 3,5 thousand visitors and guests, including partners, investors, and entrepreneurs.
The process of initiating The Garage began in the Spring of 2022. The motivation for such a move was sustained by the desire to strengthen and support new businesses, encouraged by invaluable collaborations made during the process. Some of those collaborations include Google for Startups and the National Center for Information Technology Development.
The Garage made its first appearance during the inaugural Leab conference in 2022, cementing its position as the central hub for startup initiatives. Located in Riyadh, it functions as an incubator for promising ventures, both from Saudi Arabia and abroad.
According to Saudi Gazette, the f programs offered at The Garage include: “The Garage Plus,” built to accelerate startup growth, “ACCESS” for the newest businesses, “The Garage Incubator,” “MVP Lab,” “GAIA Startup Accelerator,” along with the Middle East’s first “Antler” program.
Over the course of ten program cycles, The Garage has achieved extraordinary results, having successfully graduated over 230 startup companies and provided guidance to 450 founders from more than 50 countries across the globe. These startups, nurtured during their time at The Garage, have not only reached significant milestones but have also collectively generated revenues surpassing SR24.5 million (approximately $6.5 million). Moreover, they have attracted substantial investments totaling over SR215 million (approximately $57.3 million), all while benefiting from comprehensive training programs.
The Garage aspires to be the ultimate destination for tech startups, offering a unique business model that encompasses incubation, acceleration, and a myriad of support services. It is not just a workspace; it represents a way of life and a community hub. Nestled in a strategically vital location, it provides proximity to creative minds and national laboratories across various domains, creating an inspiring environment for every innovator in search of like-minded individuals.
