Latest news with #CentreofDigitalEntrepreneurship
Leaders
25-05-2025
- Business
- Leaders
Saudi Arabia Ignites AI Innovation with Groundbreaking Startup Incubator
Saudi Arabia is significantly increasing its investment in artificial intelligence (AI) by launching a national incubator program. This initiative aims to accelerate the growth of early-stage AI startups across the Kingdom. The Ministry of Communications and Information Technology (MCIT) leads this four-month program through its Centre of Digital Entrepreneurship. Comprehensive Support for Startups The incubator will support 20 AI ventures by providing essential resources such as mentorship, funding, and workspace. Additionally, participants will gain access to government-backed digital incentives that enhance their growth potential. Financial support will come from the National Technology Development Program (NTDP), ensuring startups receive the necessary funding to thrive. Moreover, strategic partnerships with key organizations will help startups access vital technical and commercial expertise. Collaborations with the Saudi Data and AI Authority (SDAIA), the Saudi Company for Artificial Intelligence, SambaNova, and BIM Ventures will strengthen the program's impact. These partnerships will provide startups with the tools they need to succeed in a competitive market. Aligning with Vision 2030 Goals This initiative aligns with Saudi Arabia's Vision 2030 strategy, which aims to build a diversified, knowledge-driven economy. By reducing long-term dependence on oil revenues, the Kingdom seeks to foster innovation and entrepreneurship. The incubator follows the recent launch of Humain, a PIF-backed AI company focused on enhancing national capabilities in data infrastructure, machine learning, and cloud computing. By targeting early-stage companies with tailored support, the new incubator aims to establish a competitive AI ecosystem. This ecosystem will position the Kingdom as a regional and global leader in emerging technologies. Ultimately, this initiative represents a significant step forward in Saudi Arabia's commitment to advancing its tech economy and fostering innovation. Short link : Post Views: 22
CairoScene
25-05-2025
- Business
- CairoScene
Saudi Arabia Launches AI Startup Incubator to Boost Tech Economy
A new incubator led by the Ministry of Communications and Information Technology will support 20 AI startups. May 25, 2025 Saudi Arabia is ramping up its investment in artificial intelligence with the launch of a national incubator programme designed to accelerate the growth of early-stage AI startups. Led by the Ministry of Communications and Information Technology (MCIT) through its Centre of Digital Entrepreneurship, the four-month programme will support 20 AI ventures with mentorship, funding, workspace, and access to government-backed digital incentives. Financial support will come via the National Technology Development Program (NTDP), while strategic partnerships with the Saudi Data and AI Authority (SDAIA), the Saudi Company for Artificial Intelligence, SambaNova, and BIM Ventures will help startups access technical and commercial expertise. The initiative is a key part of Saudi Arabia's Vision 2030 strategy, which seeks to build a diversified, knowledge-driven economy and reduce long-term dependence on oil revenues. It also follows the recent launch of Humain, a PIF-backed AI company focused on building national capabilities in data infrastructure, machine learning, and cloud computing. By targeting early-stage companies with tailored support, the new incubator aims to lay the foundation for a competitive AI ecosystem capable of positioning the Kingdom as a regional and global leader in emerging technologies.
