MENA Invests in Push30's $3M

Continuing from our Kazakhstan Global series, we’ve talked about the investment climate and IT growth in Saudi Arabia with various experts.

This time, Adil Gasimov, founder of the Azerbaijani startup Push30, shares his experiences entering the Saudi Arabian market, engaging with investors, and leveraging opportunities in the MENA region.

About Push30

Push30 is a wellness-focused platform offering corporate access to fitness services.

Launched in 2019 in Baku, it now operates across Azerbaijan, Kazakhstan, and Uzbekistan.

With $1.5M in secured investments, the company is expanding into Saudi Arabia and working to close a $3M funding round.

Why Saudi Arabia?

Gasimov explains that Push30 carefully evaluated over 20 countries using a 48-question checklist to assess market potential.

Factors such as the population’s growing interest in fitness, corporate wellness investments, and Saudi Arabia’s Vision 2030 initiative—which prioritizes wellness and economic transformation—tipped the scales in favor of entering the Saudi market.

The Fitness Landscape in Saudi Arabia

Riyadh’s fitness centers are bustling, driven by expats and locals alike. Saudis are increasingly adopting fitness and wellness as part of urban culture.

Restaurants offering healthy menu options are more common now than five years ago, reflecting the nation’s cultural shift.

Approach to Market Entry

Gasimov and his team began visiting Saudi Arabia over a year ago, participating in programs like the Al-Farabi Innovation Hub accelerator.

This initiative provided hands-on training in marketing, market adaptation, and legal documentation, along with key introductions to potential clients and investors.

Networking in informal settings, such as countryside gatherings at private recreational houses (known as istarahas), proved critical to building relationships.

Progress and Results

Though still completing registration in Saudi Arabia, Push30 has made promising connections with over 90 investors and fitness clubs.

They’ve also secured preliminary agreements, including a partnership with a fitness chain and commitments from two local investors.

Navigating Cultural and Business Differences

The pace of business in Saudi Arabia contrasts with that in Central Asia. Deals require patience and persistence, with key meetings often occurring in relaxed, informal settings.

Showing respect for the cultural emphasis on trust and interpersonal relationships is essential for success.

Strategic Sales and Partnerships

Push30’s sales model targets HR managers and corporate clients, using international businesses as a gateway to local markets.

Events, healthy lifestyle promotion, and collaboration with complementary businesses strengthen their market presence.

Gaining access to influential family conglomerates or securing clients like Saudi Aramco can open significant opportunities.

Future Goals

Push30’s immediate goal is to establish a strong foothold in Saudi Arabia before expanding to other MENA markets like the UAE, Oman, Qatar, and Kuwait.

The connections they’ve built in Saudi Arabia are already helping smooth the transition to neighboring regions.

Long-term, Push30 aims to evolve into a comprehensive wellness ecosystem, integrating with insurance companies, healthy product brands, and mental health services to provide full corporate wellness solutions.

Advice for Startups

Gasimov offers three key recommendations for startups entering Saudi Arabia:

1. Be patient. Business processes are slower than in other regions.
   
   
2. Be persistent. Building trust and connections often require months of follow-ups.
   
   
3. Choose the right partners. Collaborate with individuals who can genuinely open doors, not just offer surface-level connections.
   
   

Understanding local culture is equally important. Building trust means recognizing whether the person across the table values data and metrics or personal relationships.

Tailoring your approach accordingly can make all the difference.

Winning in the Saudi Market

Success in Saudi Arabia, and more broadly in the MENA region, isn’t simply about presenting an excellent product.

It requires nurturing relationships, navigating cultural nuances, and creating mutual value.

With the right strategy and partners, the region presents enormous opportunities for innovative companies like Push30.

Source: digitalbusiness

The opinions shared in the GymNation blog articles are solely those of the respective authors and may not represent the perspectives of GymNation or any member of the GymNation team.