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Overview: The Saudi Fast Growth 100 and Arabia 500
In 2010, AllWorld expanded from the Saudi 100 to the Arabia 500 to build the first MENA-wide ranking and community of growth superstars. The Arabia 500 will be a list the world will watch.
In the next few months, we are going to announce the top contenders from Saudi Arabia for the Arabia 500 and then in the Fall at the Arabia 500 Global Summit in Jordan the full list will be announced.
The Saudi Fast Growth 100 was created in 2008 by the Saudi Arabian General Investment Authority's (SAGIA) National Competitiveness Center with joint founding partners Al-Watan newspaper and AllWorld Network. . Joining the initiative, as Strategic Partners are the National Commercial Bank, Sukoon International, and Siraj Capital. It is a national program to promote entrepreneurship and innovation in Saudi Arabia that ranks the fastest-growing emerging companies in the Kingdom.
The Saudi Fast Growth 100 brings to light fast growing Saudi companies that represent the future of the Kingdom. Through their energy and innovation, these companies are building a more competitive and dynamic Saudi economy. Each year we rank the fastest-growing emerging companies in the Kingdom. In addition, we will recognize start-ups, women-owned companies ad those owned by young entrepreneurs.
The 2009 and 2010 Saudi Fast Growth 100 rankings showcased for the first time the vibrant entrepreneurial base that is flourishing in Saudi Arabia. Some of the real stunning findings:
- 35,000 jobs were created by the winning companies, of which 15,000 were created in the last five years
- The winning companies grew an average of 43% a year
- Over 70% of the CEO's have founded other companies of which an impressive 90% are still in business
- In the next two years, most of the CEO's have plans to start another business and nearly a quarter plan to do an Initial Public Offering
- The CEO's are an average of 30-33 years old when they form their companies
- 15 industries were represented, and High Tech & Telecommunications was #1
Commenting on the impact of being the number 1 2009 Saudi Fast Growth 100 winner, Secutronic's co-founders, Mr. Jawad Anwar Ali and Ihab El-Samannoudi stated:
"being a Saudi Fast 100 winner has inspired our team. Our staff sees that their hard work has paid off, our customers are more confident that they are putting their security needs in the right hands and our shareholders are proud to be #1"
The 2011 Saudi Fast Growth 100 is being managed by SAGIA.
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