The Kingdom is emerging as a Tech Hub of the region and gaining Leadership position through Saudi Vision 2030.

In the past decade, Saudi Arabia has embarked on an ambitious journey to establish itself as a major technology hub in the Middle East region. The kingdom's Vision 2030, which was launched in 2016, seeks to modernize the economy and reduce its dependence on oil by diversifying into new sectors such as technology.

To achieve this vision, the government has launched several initiatives to foster entrepreneurship and innovation. One of the key initiatives is the establishment of the King Abdullah University of Science and Technology (KAUST) in 2009. KAUST is a world-class research university that provides advanced facilities and equipment to researchers and entrepreneurs from all over the world. The university has already contributed significantly to the growth of the local technology sector by attracting top talent and fostering innovation.

Another significant initiative is the establishment of several technology hubs and incubators to support startups and entrepreneurs. These hubs provide access to funding, mentorship, and networking opportunities, enabling entrepreneurs to bring their ideas to life. One of the most prominent technology hubs is the Badir Program for Technology Incubators and Accelerators, which has helped launch more than 200 startups since its inception in 2012.

Moreover, the government has also made significant investments in digital infrastructure to support the growth of the technology sector. In 2019, Saudi Arabia launched its 5G network, making it one of the first countries in the world to do so. The rollout of 5G has opened up new opportunities for innovation in fields such as artificial intelligence, augmented reality, and the Internet of Things (IoT).

Saudi Arabia’s tech hub is also known for its supportive regulatory environment. Recently, Saudi Arabia introduced new regulations to promote e-commerce and online payment systems, making it easier for businesses to operate and expand their customer base in the region. Additionally, the government launched a new visa system, which provides entrepreneurs and investors with more flexible and streamlined visa options.

Saudi Arabia has also attracted significant foreign investment in the technology sector. In 2019, SoftBank launched a $100 billion tech fund, which earmarked $45 billion for investment in Saudi Arabia. This investment has helped fund several startups and provided opportunities for entrepreneurs to access global networks and markets.

Furthermore, Saudi Arabia is also home to several successful tech startups that have grown to become leaders in their respective fields. Careem, a ride-sharing platform founded in Dubai and now owned by Uber, was established in Saudi Arabia in 2012. In 2019, Careem was acquired by Uber for $3.1 billion, making it the largest technology deal in the Middle East region. Another notable startup is the food delivery platform, HungerStation, which was acquired by Delivery Hero in 2019 for $400 million.

In conclusion, the Saudi Arabian government is fully committed to establishing itself as a major technology hub in the Middle East region. Through the Vision 2030, the government is fostering a supportive regulatory environment and making significant investments in digital infrastructure to support the growth of the technology sector. The Saudi tech hub is known for its world-class research facilities, supportive incubators, and access to global networks and markets. Additionally, Saudi Arabia has attracted significant foreign investment in the technology sector, and several successful startups have emerged in the region. With a strong focus on innovation and entrepreneurship, Saudi Arabia is well-positioned to emerge as a technology leader in the Middle East region and beyond.