Latest news with #LawrenceLiu
TECHx
12-02-2025
- Business
- TECHx
Merak Capital and Huawei Cloud Partner to Power Saudi Gaming Startups News Desk - 12/02/2025 ShareMerak Capital, a technology-focused investment firm licensed by the Capital Market Authority (CMA), has partnered with Huawei Cloud, a global cloud computing company, to drive the growth of Saudi Arabia's gaming industry. This collaboration aims to provide gaming startups with advanced cloud infrastructure, technical expertise, and business support, fostering innovation in line with Saudi Vision 2030.The partnership builds on 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. The fund plays a crucial role in advancing the National Gaming and Esports Strategy (NGES) and the Ignite Digital Content Program, aligning with Saudi Arabia's vision to position the Kingdom as a regional leader in digital entertainment and technology-driven economic diversification.As part of this initiative, gaming startups in the Exel Gaming Accelerator program will gain access to Huawei Cloud's infrastructure credits, advanced technical workshops, cloud-native gaming development training, personalized cloud optimization consultation, and ongoing knowledge-sharing sessions. These resources will empower startups to develop scalable gaming solutions while enhancing cost efficiency.Abdullah Altamami, Founder and CEO of Merak Capital, emphasized the significance of the initiative, stating that the $80 million gaming fund and Exel Gaming Accelerator reinforce the commitment to building a thriving gaming ecosystem. He highlighted the importance of Huawei Cloud's cutting-edge technology in enabling startups to expand into global markets. Lawrence Liu, CEO of Huawei Cloud Saudi Arabia, underscored the role of cloud technology in Saudi Arabia's digital transformation, noting that the collaboration with Merak Capital will help local gaming startups innovate and compete internationally while supporting Vision 2030's digital economic diversification goals.Applications for the Exel Gaming Accelerator cohort are open until February 16, 2025, inviting gaming startups with innovative solutions and strong growth potential to benefit from this comprehensive support system. The partnership between Merak Capital and Huawei Cloud marks a significant step in strengthening Saudi Arabia's gaming industry, fostering local talent, and driving digital innovation.
Merak Capital and Huawei Cloud Partner to Power Saudi Gaming Startups News Desk - Share Merak Capital, a technology-focused investment firm licensed by the Capital Market Authority (CMA), has partnered with Huawei Cloud, a global cloud computing company, to drive the growth of Saudi Arabia's gaming industry. This collaboration aims to provide gaming startups with advanced cloud infrastructure, technical expertise, and business support, fostering innovation in line with Saudi Vision 2030. The partnership builds on 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. The fund plays a crucial role in advancing the National Gaming and Esports Strategy (NGES) and the Ignite Digital Content Program, aligning with Saudi Arabia's vision to position the Kingdom as a regional leader in digital entertainment and technology-driven economic diversification. As part of this initiative, gaming startups in the Exel Gaming Accelerator program will gain access to Huawei Cloud's infrastructure credits, advanced technical workshops, cloud-native gaming development training, personalized cloud optimization consultation, and ongoing knowledge-sharing sessions. These resources will empower startups to develop scalable gaming solutions while enhancing cost efficiency. Abdullah Altamami, Founder and CEO of Merak Capital, emphasized the significance of the initiative, stating that the $80 million gaming fund and Exel Gaming Accelerator reinforce the commitment to building a thriving gaming ecosystem. He highlighted the importance of Huawei Cloud's cutting-edge technology in enabling startups to expand into global markets. Lawrence Liu, CEO of Huawei Cloud Saudi Arabia, underscored the role of cloud technology in Saudi Arabia's digital transformation, noting that the collaboration with Merak Capital will help local gaming startups innovate and compete internationally while supporting Vision 2030's digital economic diversification goals. Applications for the Exel Gaming Accelerator cohort are open until February 16, 2025, inviting gaming startups with innovative solutions and strong growth potential to benefit from this comprehensive support system. The partnership between Merak Capital and Huawei Cloud marks a significant step in strengthening Saudi Arabia's gaming industry, fostering local talent, and driving digital innovation.
Zawya
12-02-2025
- Business
- Zawya
Merak Capital and Huawei Cloud partner to power Saudi Arabia's gaming industry
Huawei Cloud provides gaming startups with advanced cloud technology, free resources, and tailored technical support through Merak Capital's gaming accelerator. Riyadh, Saudi Arabia – Merak Capital, a leading technology-focused investment firm, licensed by Capital Market Authority (CMA), and Huawei Cloud, a pioneer in advanced cloud computing solutions, have announced a strategic partnership to accelerate the development of the Kingdom of Saudi Arabia's gaming industry through comprehensive technical and business support for gaming startups. This partnership 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. Through this partnership, gaming startups participating in the Exel Gaming Accelerator program will receive cloud infrastructure credits, enabling them to access Huawei Cloud's advanced infrastructure, to develop and scale gaming solutions, advanced technical workshops focused on cloud-native gaming development, personalized technical consultation for optimizing cloud architecture and costs. The initiative will also feature regular knowledge-sharing sessions, technical workshops, and collaborative events designed to foster innovation in the gaming sector. Abdullah Altamami, Founder and CEO of Merak Capital, commented: "The $80 million gaming fund, supported by the National Development Fund, and the launch of Exel Gaming Accelerator reaffirm our dedication to cultivating a thriving gaming ecosystem in the Kingdom. Through our partnership with Huawei Cloud, we are ensuring that startups have access to cutting-edge technology and essential resources, empowering them to enhance their capabilities and successfully expand into new markets." Lawrence Liu, CEO of Huawei Cloud Saudi Arabia, said: "The gaming industry represents a crucial frontier in Saudi Arabia's digital transformation. By combining Huawei Cloud's advanced infrastructure with Merak Capital's investment expertise, we're creating a powerful ecosystem empowering local gaming startups to innovate and compete globally. This partnership demonstrates our commitment to supporting Vision 2030's goals of digital economic diversification and our broader mission of developing the tech ecosystem in Saudi Arabia." The strategic partnership between Huawei Cloud and Merak Capital underscores a unified commitment to advancing Saudi Arabia's National Gaming and E-Sports Strategy (NGES) and the broader objectives of Vision 2030. By leveraging Huawei Cloud's cutting-edge technical expertise and Merak Capital's investment leadership, this program aims to foster a thriving ecosystem that drives innovation, empowers local talent, and supports the growth of gaming businesses in the Kingdom. Applications for the inaugural Exel Gaming Accelerator cohort remain open until February 16, 2025. The program seeks gaming startups with innovative solutions and strong growth potential, offering them access to this comprehensive support ecosystem. About Merak Capital Merak Capital is an investment firm focused on technology opportunities across multiple stages and industries. Merak is built on deep technological research and understanding, staying at the forefront of digital trends and finding investment opportunities aligned with adoption cycles from different sectors, locally, regionally, and globally. The firm aims to partner with the builders of tomorrow in leading technological transformations, unlocking new markets and opportunities for growth, where innovation, fueled by the entrepreneurial spirit, shapes our future. About Huawei Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. We have more than 207,000 employees, and we operate in more than 170 countries and regions, serving more than three billion people around the world. Our Vision and mission is to bring digital to every person, home and organization for a fully connected, intelligent world. To this end, we will drive ubiquitous connectivity and promote equal access to networks; bring cloud and artificial intelligence to all four corners of the earth to provide superior computing power where you need it, when you need it; build digital platforms to help all industries and organizations become more agile, efficient, and dynamic; redefine user experience with AI, making it more personalized for people in all aspects of their life, whether they're at home, in the office, or on the go. For more information, please visit Huawei online at: or follow us on: Middle East:
Al Bawaba
12-02-2025
- Business
- Al Bawaba
Merak Capital and Huawei Cloud Partner to Power Saudi Arabia's Gaming Industry
Merak Capital, a leading technology-focused investment firm, licensed by Capital Market Authority (CMA), and Huawei Cloud, a pioneer in advanced cloud computing solutions, have announced a strategic partnership to accelerate the development of the Kingdom of Saudi Arabia's gaming industry through comprehensive technical and business support for gaming startups. This partnership 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. Through this partnership, gaming startups participating in the Exel Gaming Accelerator program will receive cloud infrastructure credits, enabling them to access Huawei Cloud's advanced infrastructure, to develop and scale gaming solutions, advanced technical workshops focused on cloud-native gaming development, personalized technical consultation for optimizing cloud architecture and costs. The initiative will also feature regular knowledge-sharing sessions, technical workshops, and collaborative events designed to foster innovation in the gaming sector. Abdullah Altamami, Founder and CEO of Merak Capital, commented: "The $80 million gaming fund, supported by the National Development Fund, and the launch of Exel Gaming Accelerator reaffirm our dedication to cultivating a thriving gaming ecosystem in the Kingdom. Through our partnership with Huawei Cloud, we are ensuring that startups have access to cutting-edge technology and essential resources, empowering them to enhance their capabilities and successfully expand into new markets." Lawrence Liu, CEO of Huawei Cloud Saudi Arabia, said: "The gaming industry represents a crucial frontier in Saudi Arabia's digital transformation. By combining Huawei Cloud's advanced infrastructure with Merak Capital's investment expertise, we're creating a powerful ecosystem empowering local gaming startups to innovate and compete globally. This partnership demonstrates our commitment to supporting Vision 2030's goals of digital economic diversification and our broader mission of developing the tech ecosystem in Saudi Arabia." The strategic partnership between Huawei Cloud and Merak Capital underscores a unified commitment to advancing Saudi Arabia's National Gaming and E-Sports Strategy (NGES) and the broader objectives of Vision 2030. By leveraging Huawei Cloud's cutting-edge technical expertise and Merak Capital's investment leadership, this program aims to foster a thriving ecosystem that drives innovation, empowers local talent, and supports the growth of gaming businesses in the Kingdom. Applications for the inaugural Exel Gaming Accelerator cohort remain open until February 16, 2025. The program seeks gaming startups with innovative solutions and strong growth potential, offering them access to this comprehensive support ecosystem.
