COLABS, Pakistan’s leading venture-backed workspace and entrepreneurial community platform, has announced its expansion into Saudi Arabia with a flagship site in Riyadh, a move that underscores the strengthening economic and innovation ties between the two nations. CEO and Co-Founder Omar Shah said the company’s entry into Saudi Arabia represents a defining milestone, aligning with Vision 2030’s momentum toward innovation and entrepreneurship. He added that Riyadh serves as the natural gateway for COLABS’ MENA journey, offering an opportunity to connect founders, bridge ecosystems, and foster collaboration between Pakistan and Saudi Arabia.
The upcoming Riyadh site marks the first phase of COLABS’ regional expansion and is backed by new investment and a strategic partnership with Waseel Investment. Faisal Al Rashed, Director of Investment at Waseel Partners, noted that the collaboration is more than a financial partnership—it serves as a bridge between two thriving ecosystems by bringing Pakistani startups into Saudi Arabia while providing Saudi entrepreneurs access to talent and innovation in Pakistan.
Saudi Arabia’s startup ecosystem, now the fastest-growing in MENA with over $2 billion in venture funding in 2024, presents a strong foundation for COLABS’ next phase of growth. The partnership follows COLABS’ October 2024 funding round led by Shorooq and Waad VC. Shorooq’s Founding Partner Shane Shin said the firm’s third investment in COLABS reflects its long-term confidence in the company’s regional vision and proven ability to execute, calling the Saudi expansion the beginning of a much larger opportunity across MENA.
Pakistan’s Federal Minister for IT & Telecommunication, Shaza Fatima Khawaja, congratulated COLABS on the move, emphasizing that the expansion mirrors the Digital Nation Pakistan vision and the deepening digital and investment ties between Saudi Arabia and Pakistan.
COLABS, known for integrating business with culture through initiatives such as the COLABS Creative Collective and Artist-in-Residence program, plans to replicate its community-driven model in Riyadh. The new site will serve as its MENA flagship and a regional anchor aimed at connecting Saudi capital and corporates with startups and talent across emerging markets.
Source: PR Newswire
