Microsoft, Merak Capital tie-up to empower Saudi gaming startups
The collaboration leverages Microsoft's technical expertise and global ecosystem to empower gaming entrepreneurs while reinforcing the kingdom's commitment to advancing its gaming industry.
This collaboration will provide gaming startups with access to Microsoft's expansive resources, including Azure cloud services, advanced gaming development tools, and its international network of partners. It will also enhance the capabilities of startups via the Exel Gaming Accelerator, enabling them to leverage AI, cloud, and analytics to innovate faster and create immersive gaming experiences, benefit from mentorship and strategic guidance by Microsoft's leading gaming professionals and technology specialists, and expand global reach by unlocking pathways to international markets through Microsoft's global partnerships and distribution channels.
This collaboration builds on the solid foundation established by the Merak Gaming Fund (MGF), an $80 million investment fund under the Gaming and Esports Sector Financing Program, overseen by the National Development Fund (NDF) in collaboration with the Social Development Bank and the Saudi Esports Federation.
Playing a key role in advancing the National Gaming and Esports Strategy and the Ignite Digital Content Program, the fund aligns with Saudi Vision 2030 to drive innovation and growth in the gaming industry.
As part of its broader mandate, the National Development Fund (NDF) oversees an integrated development finance ecosystem that supports key sectors, including E-gaming and esports. Through initiatives like the Merak Gaming Fund (MGF), NDF plays a pivotal role in driving investment and innovation in the gaming industry, aligning with Saudi Vision 2030. By fostering strategic collaborations, NDF strengthens the sector's growth and positions the kingdom as a regional leader in digital entertainment and economic development.
Abdullah Altamami, Founder and CEO of Merak Capital, said: 'Microsoft has long been at the forefront of technology innovation, and our collaboration represents a significant step for Saudi Arabia's gaming ecosystem. By bringing Microsoft's industry-leading technology and global expertise into Exel Gaming Accelerator and the Merak Gaming Fund, we are providing gaming founders with the infrastructure, tools, and mentorship needed to build scalable businesses. This collaboration is about more than just technology; it's about enabling studios to create commercially viable games that resonate with global audiences while strengthening the Kingdom's position in the gaming industry."
Turki Badhris, President, Microsoft Arabia, commented: 'At Microsoft, we are committed to empowering developers and creators with the tools they need to build transformative experiences. Our collaboration with Merak Capital represents an exciting opportunity to nurture gaming innovation in Saudi Arabia and support a thriving ecosystem that has the potential to make a global impact.'
The Exel Gaming Accelerator is now accepting applications for its inaugural cohort. Startups with scalable business models and strong growth potential are encouraged to apply. Participants will gain access to mentorship, investment opportunities, and technical expertise from leading partners. Applications will remain open until February 16, 2025. - TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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