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The second Saudi Industry Forum held a session in Jeddah on September 16 about converting innovative concepts into ventures that can attract finance and scale, the Saudi Press Agency reported. Dr. Sharaf Al Sharaf, an associate professor at Umm Al-Qura University and Pharmathon founder, described a sequence beginning with identifying a market need and testing feasibility, followed by product development and market fit.
The presentation listed team capability, addressable market, competitive advantage, demonstrated commercial viability and clear capital allocation as factors investors examine. It also addressed planning, adaptability, leadership, negotiation and management of resources and risk. Al Sharaf’s conclusion was that founders should establish market validation and commercial viability before seeking external finance and expansion.