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Asharq Al-Awsat
Asharq Al-Awsat
Business
Riyadh - Fatehelrahman Yousif

Funds, Financing Portfolios Allocate $1 Billion for Saudi Emerging Technologies

Leap Riyadh Saudi Arabia Kingdom
The second day of LEAP 2023 saw the launching of funds and programs to support the IT sector. (Asharq Al-Awsat)

Eight investment funds and programs allocated 3.7 billion riyals ($1 billion) to support Saudi Arabia’s IT sector.

On the sidelines of the LEAP 2023 conference in Riyadh, the Ministry of Communications and Information Technology unveiled on Tuesday investment funds to support the growth of startups and medium-sized companies, accelerate the electronic games industry, boost competition in the fields of research, development and innovation, and stimulate the ecosystem.

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