Parachute16 at Biban24: Meet our Startups & Connect at the Investors Lounge

Nov 17, 2024

As the world’s eyes turned to Saudi Arabia, Biban24 did not disappoint. The Kingdom welcomed a diverse array of entrepreneurs, investors, and ecosystem builders to the premier forum for entrepreneurship and innovation under the theme Global Destination for Opportunities. This year’s event focused on empowering the Saudi entrepreneurial ecosystem, offering resources, education, and a network of supporters under one roof.

Parachute16 proudly took part in this transformative gathering, representing ten trailblazing startups and hosting the Investors Lounge, where high-impact connections took shape. Our startups, aligned with Saudi Arabia’s economic vision, highlighted innovative solutions across industries—from AI and data platforms to VR applications in healthcare. Here’s a look back at some of the highlights and success stories from Biban24.

Highlights from Parachute16’s Booth and Startups

Parachute16’s booth became a hub of activity, drawing attendees eager to meet our ten featured startups. These ventures are tackling regional and global challenges with fresh perspectives and cutting-edge solutions. Each startup showcased practical applications in sectors that are pivotal to the Kingdom’s growth, including education, e-commerce, healthcare, and more:

  • DataQueue: Simplifying data collection and annotation for AI applications, DataQueue enhances the AI lifecycle with tools for quality control, automation, and project management, helping create high-quality training datasets.

  • Edubook: This integrated platform unifies Student Information Systems, ERP, and Learning Management Systems, streamlining digital education and administrative processes, making it ideal for Saudi Arabia's rapidly digitizing education sector.

  • Nabeeh: An on-demand platform for property maintenance, Nabeeh connects users with trusted service providers, offering a seamless solution for everything from plumbing to electrical work, tailored to small businesses and property owners.

  • The Middle Frame: A unique MENA-focused platform offering culturally relevant image datasets, with a vision to launch the first Arab image generator, connecting creators with authentic visuals from across the region.

  • Turqat: A vehicle maintenance app, Turqat ensures quality and convenience for routine and emergency car services, supporting the MENA region’s car-dependent market.

  • Coretava: Utilizing AI for e-commerce personalization, Coretava helps retailers boost customer engagement through tailored recommendations and loyalty programs, driving up order values and customer satisfaction.

  • Adel: Simplifying legal claims, Adel empowers workers by offering eligibility checks and automated processes for employment claims, making workers' rights more accessible across the region.

  • QuiqClaim: Transforming healthcare financing, QuiqClaim connects providers with investors for peer-to-peer settlements, streamlining liquidity for healthcare claims while offering returns for investors.

  • Jusoor Labs: This EdTech startup offers 3D virtual labs for STEM education, allowing students to conduct complex experiments in subjects like physics and biology, ideal for schools with limited lab facilities.

  • Immesense: Specializing in VR/AR solutions, Immesense enhances healthcare training, educational experiences, and multimedia with immersive simulations that improve learning and patient care.

Investor Lounge Recap

Parachute16’s Investor Lounge became a dynamic space for discussion, collaboration, and investment. With over 300 one-on-one sessions involving 600 participants, 22 seasoned investors, and industry experts, the lounge proved to be an invaluable platform for startups and investors alike. Notably, two of our startups—QuiqClaim and Jusoor Labs—successfully closed funding rounds, a testament to the quality of innovation and talent present at the forum.

Parachute16’s Continued Commitment

We extend our gratitude to IPSD, Flow Accelerator, and IFC for their support in empowering these promising startups and to all the investors and experts who contributed to the Investor Lounge’s success. Biban24 was not only a reflection of Saudi Arabia’s commitment to innovation but also a springboard for meaningful partnerships that will drive progress and opportunity within the Kingdom and beyond.