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Saudi Arabia: Rising Deep Tech Hub with AI, IoT Innovations

Saudi Arabia’s deep tech startup ecosystem thrives with a strong focus on artificial intelligence (AI) and the Internet of Things (IoT). These technologies connect everyday devices to the internet, enabling data exchange and smarter decision-making. A newly released report highlights their pivotal role in achieving the Kingdom’s Vision 2030 goals.

The Ministry of Communications and Information Technology, King Abdullah University of Science and Technology, and Hello Tomorrow recently unveiled a report showcasing the rapid rise of deep tech startups. Over 50% of these startups focus on AI and IoT, driving innovation and attracting significant investments.

More than 43 high-growth startups have collectively raised over $987 million in funding. This positions Saudi Arabia among the top three ecosystems for tech startups in the Middle East and North Africa. The Kingdom’s success stems from increased venture capital, a vibrant entrepreneurial culture, and strong government support.

Understanding IoT

The Internet of Things (IoT) refers to a vast network of interconnected devices, vehicles, and home appliances equipped with sensors, software, and other technologies. These devices can collect and exchange data with each other and with central systems, enabling automation, remote monitoring, and improved efficiency.

Aligning with Vision 2030

The surge in AI and IoT startups aligns with Saudi Vision 2030, which aims to diversify the economy and reduce reliance on oil revenues. By fostering a knowledge-based economy, the Kingdom seeks to become a global leader in technology and innovation.

Jason Roos, ex-CIO at KAUST, emphasized Saudi Arabia’s ambition to lead in science and technology. He highlighted projects like NEOM and KAUST as key drivers of innovation. “Technology will be the backbone of this transformation,” Roos stated.

Global Attention and Future Prospects

International investors and companies increasingly recognize Saudi Arabia’s potential in deep tech. The Kingdom’s focus on infrastructure, education, and research ensures sustained growth in this sector. This progress not only supports economic diversification but also paves the way for a sustainable and innovative future.

With events like LEAP, Saudi Arabia continues to solidify its position as a global tech hub. The deep tech ecosystem, though still emerging, promises to play a crucial role in shaping the Kingdom’s digital transformation.

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