"The way Saudi entrepreneur Mohammed Aldossary sees it, innovators are animated by the same motivations whether they are in Silicon Valley, the Arabian Peninsula, or South Asia: They want to solve vexing problems at scale. "What excites talent, what excites the community, is to go build around those needs," Aldossary told the Fortune Global Forum on Sunday in Riyadh, Saudi Arabia."
""Our crude oil is our young people, but we need refineries so that we were able to find applications for various grades of skills and education," said Siddiqi, a former banker at UBS and Barclays. "That's a resource that we are willing to share with the rest of the world. Because the rest of the world, by and large, is aging.""
Innovators across Silicon Valley, the Arabian Peninsula and South Asia pursue solving large-scale, vexing problems. SILQ Financial resulted from a merger between Saudi B2B marketplace Sary and Bangladesh's ShopUp to serve small businesses with procurement and financial services. The vast majority of companies in Saudi Arabia are small and medium-size enterprises but account for only 9% of bank lending, creating unmet financing needs. Young entrepreneurs in Saudi Arabia and Bangladesh are addressing those gaps and fostering a culture of innovation. High shares of under-30 populations in both countries present a demographic advantage that requires skill development to realize economic gains.
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