By: Erick Feltron
São Paulo, Brazil – During the Saudi Startup 20 Brazil 2024 Side Event last week, Saudi Arabia, led by Prince Fahad bin Mansour bin Nasser bin Abdulaziz Al Saud, signed a notable bilateral agreement with Brazil. This partnership, forged between Entrepreneurship Vision (Evision) and the Arab-Brazilian Chamber of Commerce (ABCC), aims to enhance startup exchange and foster collaboration within the innovation ecosystems of both nations. The Memorandum of Understanding (MoU) seeks to advance trade, investment, tourism, and cultural exchanges between Saudi Arabia and Brazil. Represented by Mr. Osmar Chohfi, President of ABCC, and the Saudi delegation, the agreement strengthens economic ties and supports the international expansion of businesses from both countries.
This MoU marks the beginning of a strategic partnership aimed at helping entrepreneurs from Saudi Arabia and Brazil expand their businesses internationally. The goal of this agreement is to create a strong base for startup growth by offering support for technology-driven ideas and connecting entrepreneurs with new opportunities in global markets. Through this collaboration, both countries will work together to encourage innovation and business development.
Brazilian leaders such as Filipe Sabará, founder of ARCAH and former Secretary of Social Development of São Paulo, Romero Rodrigues, CEO of Headline, and Rodrigo Borges, founder of Buscapé, participated in discussions about how innovation can be promoted. They shared ideas on how governments and venture capital can work together to create environments that support new technologies and businesses.
Prince Fahad bin Mansour bin Nasser bin Abdulaziz Al Saud emphasized the importance of this partnership in expanding Saudi Arabia’s role in the international startup world. This move will help the Kingdom gain more influence and create opportunities for new businesses to grow.
The Prince also mentioned how this partnership fits with Saudi Vision 2030. By investing in important industries and supporting entrepreneurs, the Kingdom is showing its commitment to creating a strong and sustainable economy for the future.

Photo Courtesy: The Delegation of Saudi Arabia in Brazil for the Startup20 event
Prince Fahad also emphasized the role of NEOM as a hub for innovation. “NEOM’s visionary projects draw top talent and creative minds from across the world, offering an unparalleled environment for entrepreneurs and innovators in all fields. NEOM provides professionals, startups, and established companies a unique chance for extraordinary success through their participation in its growth,” he said.
“NEOM is more than a futuristic region; it embodies a comprehensive vision for the future. By cultivating a culture of innovation and embracing non-traditional solutions, it aims to build a sustainable economy that addresses the urgent challenges of our time,” he added.
This collaboration with Brazil aims to not only drive innovation but also open new investment channels and foster knowledge exchange between the two nations, enabling Saudi entrepreneurs to explore global markets and showcase their innovative solutions on the world stage.
“The Startup20 Engagement Group offers a unique platform to unite brilliant minds and cultivate an environment ripe for innovation, a cornerstone of our vision for the future,” concluded Prince Fahad bin Mansour bin Nasser bin Abdulaziz Al Saud.
This partnership strengthens Saudi Arabia’s continued dedication to the goals of Vision 2030, especially its aim to diversify the economy and support the growth of small and medium-sized businesses. This will help create more job opportunities and encourage innovation, contributing to a more balanced economy.

Photo Courtesy: The Delegation of Saudi Arabia in Brazil for the Startup20 event
The Saudi delegation, composed of representatives from different industries, remains focused on increasing the Kingdom’s role in the global startup community. Their efforts are directed towards creating a business environment that supports innovation and long-term success. By doing so, they hope to attract more investment and build a sustainable future for the country’s economy.
Published by: Martin De Juan