MCIT Launches Roadmap to Build Saudi Arabia’s Deep Tech Ecosystem
The Ministry of Communications and Information Technology (MCIT), in partnership with King Abdullah University of Science and Technology (KAUST) and in collaboration with “Hello Tomorrow,” has unveiled the Deep Tech Report. The report provides a comprehensive overview of the current state and future potential of Saudi Arabia’s deep tech ecosystem while outlining key initiatives aligned with the ambitions of Saudi Vision 2030.
The report highlights the vast opportunities within the deep tech sector, which is recognized as a cornerstone for advancing the digital economy and fostering sustainable development. It focuses on five critical pillars shaping the ecosystem:
- Deep Tech Ecosystem Development
- Investment
- Infrastructure and Ecosystem Enablers
- Talent Development
- Policies, Regulations, and Government Incentives
A central theme is the role of research, development, and innovation in establishing Saudi Arabia as a global leader in advanced technologies.
AI, IoT
Key findings in the report include significant growth in the deep tech sector, with 50% of startups focused on Artificial Intelligence (AI) and the Internet of Things (IoT). The Kingdom is home to over 43 high-growth startups that collectively secured more than $987 million in funding in 2022, supported by 104 investors. Additionally, the number of researchers in Saudi Arabia has risen by 75% since 2015, underscoring the nation’s commitment to advancing R&D.
Deputy Minister for Technology Mohammed Robayan emphasized that the report marks a pivotal step in solidifying Saudi Arabia’s position as a global hub for advanced technologies. Moreover, the Kingdom aims to create an integrated ecosystem that drives digital transformation and sustainable growth.
Robayan called on stakeholders across public and private sectors, including academic institutions and investors, to use the report’s insights as a foundation for fostering innovation. He encouraged collaboration to build a roadmap that accelerates the Kingdom’s progress toward the goals of Saudi Vision 2030.
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