Prince Fahad's Key Takeaways & Future Prospects From G20 YEA Summit

In a momentous occasion for the global startup ecosystem, the G20 Young Entrepreneurs' Alliance (G20YEA) Summit concluded on 15th July with resounding success, fostering international collaboration and innovation. 

TICE News had the privilege of interacting with HRH Prince Fahad bin Mansour, the President of the Saudi Delegation, to discuss the key takeaways and future prospects for Saudi Arabia and India after three eventful days at the summit.

An Energetic and Fruitful Summit 

HRH Prince Fahad expressed his delight at the tremendous success of the summit, emphasizing the diverse and energetic presence of entrepreneurs from around the world. The summit served as a melting pot of ideas, producing valuable outcomes and takeaways. HRH Prince Fahad lauded the opportunities that emerged from the event, foreseeing significant developments in the near future.

"I think that you have attended with us and seen how successful the summit is. There were a lot of great things. I can't say them in a couple of minutes. But if I can say one thing is that it brought people from all around the world together with great energy, with great outcomes with great takeaways, and I think that there are a lot of opportunities that will be developed from this summit," HRH Prince Fahad said. 

Strategic Alignments: India and Saudi Arabia Join Forces 

The conversation took an intriguing turn when Prince Fahad alluded to a meeting with YEA delegates and members of the Confederation of Indian Industry (CII). While keeping the specifics under wraps, he teased the upcoming alignment of stakeholders from both India and Saudi Arabia. The intention is clear: to create a powerful impact in pursuit of their shared objectives. He tantalizingly hinted at exciting surprises and positive news that will be revealed soon.

“So we will keep that as a surprise. However, what I can tell you is that we are aligning all the stakeholders from India and Saudi Arabia together to make sure that we great impact on what we are trying to achieve. So from that you will start hearing a lot of surprises and good news very soon,” HRH Prince Fahad mentioned. 

Saudi Vision 2030: Embracing Global Talent 

HRH Prince Fahad reaffirmed the inclusivity of Saudi Vision 2030, inviting global participation to work together towards shared goals. He acknowledged the wealth of talent and entrepreneurial spirit present in Saudi Arabia, underscoring the potential for remarkable contributions to the startup ecosystem. The summit showcased opportunities for collaboration between Saudi entrepreneurs and their counterparts from India and other G20 nations, reflecting the openness and optimism of the Saudi delegation.

"So, the Saudi Vision 2030 is a vision that includes everyone in it. The whole world is here together and we invite them all to participate with us. In realizing this vision, I believe together that we can do a lot more. There are a lot of opportunities in Saudi to achieve. There are a lot of talented entrepreneurs and startups that can add a lot of value to our startup ecosystem. And from what we've seen here in India and as well as other G20 nations, there will be a lot of things that can be done together," HRH Prince Fahad iterated. 

MOUs Pave the Way for Future Collaboration 

Among the highlights of the summit were the signing of three MOUs between Saudi and Indian companies, along with one between a Saudi and a Singaporean company. The MOUs are a testament to the potential for synergy and growth in various industries. Notably, one of the agreements focused on the tech industry and its impact on the environment, while others explored the vast potential of health tech. Additionally, the collaboration between Saudi Arabia and Singapore aims to foster a robust ecosystem of innovation and exchange.

“So today we've seen three MOUs that have been signed between two Saudi companies and two Indian companies and one Saudi company and a Singaporean company. There is a lot of synergies between startups here. One of them was in the tech industry and the vehicles that can add a lot to the environment. And there was another one in the health tech. The third one as well was health tech from the Saudi side. And it was to develop a great ecosystem interaction between Singapore and Saudi Arabia,” HRH Prince Fahad informed. 

A Bright Future for India-Saudi Arabia Collaboration 

The enthusiasm and passion of the Saudi delegation were unmistakable throughout the summit, leaving a lasting impression on all attendees. Prince Fahad assured that this collaboration is just the beginning and hinted at even more significant engagements in the near future. He hinted at more Saudi delegations frequenting India, strengthening the ties between the two nations.

“I can say that just to wait and see next month, we will be here, and the month after we'll be also here and I hope that we will have this forever,” HRH Prince Fahad concluded. 

As the summit concluded, it became evident that the G20YEA had achieved its primary objectives of forging international partnerships, promoting innovation, and empowering young entrepreneurs. The vision shared by both India and Saudi Arabia in fostering their respective startup ecosystems received a significant boost through this event.

With anticipation building, the world eagerly awaits the positive outcomes and surprises that Prince Fahad alluded to in this exclusive interview. As India and Saudi Arabia continue their journey towards creating a thriving entrepreneurial landscape, the collaboration between these two nations promises to be a force to be reckoned with, shaping the future of innovation and enterprise for years to come.