Episode 10 · Group Holdings
From programmer to CEO: Khalid Suleimani on building Saudi Arabia's tech and investment ecosystem
One of Saudi Arabia's earliest tech entrepreneurs and venture capitalists on four decades at the leading edge of the Kingdom's transformation, and what it takes to scale through it.
2 June 2025 · Hosted by Oliver Helvin
Highlights
Why this episode matters
Khalid Suleimani started programming professionally in 1985, was angel-investing in Saudi tech before most of the region had reliable internet, and then ran a Tadawul-listed industrial holding company. Few people have a longer view on what it took to build the Saudi business landscape that everyone else is now arriving into.
Key themes
What four decades of Saudi business actually teaches you
Khalid's career started before most of the Vision 2030 cohort had finished school. He talks about what it was like to build a tech business in 1990s Saudi Arabia, what the early VC ecosystem looked like, and how the institutional fabric that today's founders take for granted was actually constructed. The history is useful context for anyone trying to understand where the market is going next.
Transformation is a mindset problem, not a technology problem
Khalid is direct that most failed transformations in his experience failed for cultural reasons, not technical ones. He discusses how leaders should think about sequencing: get the mindset right, then the culture, then the technology, in that order. The reverse, he argues, is why so many digital transformation programmes burn capital and fail to land.
Pick technology late, not early
One of Khalid's recurring themes is that being an early adopter of unproven technology has cost his businesses more than being a fast follower of proven technology. He talks about specific cases where waiting twelve months saved millions and where the cost of being first was not justified by the strategic upside. His framework for evaluating when to adopt is unusually practical.
Your team is your greatest asset, treated as such
Khalid argues that the leaders who scale through Saudi's growth phases are the ones who genuinely invest in their people, not the ones who say they do in town halls. He talks about the specific investments that compound (development, succession, autonomy) and the ones that do not (perks, slogans, internal-comms theatre).
Transformation is not a technology problem. It's a mindset problem dressed up in a technology budget.
Takeaways
- The institutional fabric of Saudi business was built; understanding the construction is useful for predicting the next phase
- Get the mindset right before the technology; the reverse sequence is why most transformations fail
- Be a fast follower of proven technology, not an early adopter of unproven technology
- Invest in people development, succession, and autonomy; everything else is theatre
- Always have a transferable skill in your hand; make your education and work your hobby
About Khalid Suleimani
Khalid Suleimani
Chief Executive Officer (former), SISCO
Saudi Arabia
Khalid Suleimani has built a career across academia, entrepreneurship, venture capital and C-level leadership over nearly four decades. Starting as a freelance programmer in 1985, he transitioned through tech entrepreneurship and angel investing into senior corporate leadership, most recently as CEO of SISCO Holding, a Tadawul-listed Saudi industrial holding company. He is one of the early Saudi VC pioneers and the author of two best-selling business books.
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