BIM Ventures announced the inauguration of its venture building ecosystem by His Excellency, the Minister of Commerce, Dr. Majid Bin Abdullah AlKassabi, in an event held at the studio’s headquarters in Riyadh on Tuesday, March 22, 2022. This step is aligned with the company’s strategic objectives and its plans for regional expansion.
BIM Ventures is considered the leading venture building studio in the Kingdom, as it has worked on developing and launching tech startups from early stages, with a total value exceeding 750 million SAR. The inauguration was attended by a number of entrepreneurs, venture capital leaders, angel investors, and governmental entities that support the entrepreneurial ecosystem. During his speech, His Excellency the Minister of Commerce, discussed the booming startup ecosystem, the role of venture building studios in the entrepreneurial ecosystem, and venture capital investment in his speech.
BIM Ventures ecosystem builds startups in various sectors, but is focused on PropTech, InvestTech, and FinTech. The studio’s goal is to build startups alongside entrepreneurs and accompany them on their journey starting with the process of validating their ideas to its launch in the market through its ecosystem.
BIM Ventures ecosystem includes; Investors Mine which is an angel investor network established by BIM’s most prominent angel investors, BIM Solutions that provides tech & product development expertise to startups to help launch them in the market, Design Bureau which is the branding and digital marketing arm of the studio, Expert Services that offers professional services to launch programs and events related to the startup and venture capital ecosystem as a whole, such as accelerators and competitions in partnership with ecosystem enablers such as Monshaat, and BIM Spaces that provide private offices & co-working spaces and an integrated community for startups.
Majid AlOsaimi, Chairman of the Board of Directors, stated that: “This step comes within our vision to contribute effectively to the investment and innovation ecosystem in the Kingdom by creating and investing in pioneering startups and ideas, and to empower talented entrepreneurs that we believe in their ability to build companies of a qualitative and distinctive nature.”
Mohamed Amine Merah, BIM’s founder and CEO, explained that: “Our mission is represented in bridging the gap between the idea and its execution in reality through our unique model where we capitalize on our resources and integrated ecosystem to provide entrepreneurs with the necessary investment, expertise, knowledge, and wide network to transform their ideas into successful and sustainable enterprises.” He also added, “We are proud to have an outstanding team with extensive experience who were the main reason behind establishing BIM’s ecosystem and the success of its startups.”