Saudi Arabia’s Ministry of Communications and Information Technology (MCIT) has launched a specialized incubator within its Center of Digital Entrepreneurship to support the growth of AI startups. This initiative enhances the Kingdom’s position as a regional innovation hub and underscores AI’s critical role in driving digital economic growth.
The program will include 20 AI startups, empowering innovators to transform their ideas into viable tech solutions. Targeting technology enthusiasts, experts, and industry leaders, this four-month program offers a range of benefits, including training, financial support from the National Technology Development Program (NTDP), mentorship, digital incentives, networking opportunities, and office spaces.
In collaboration with the Saudi Data and AI Authority (SDAIA), NTDP, the Saudi Company for Artificial Intelligence, SambaNova, and BIM Ventures, the program fosters a nurturing environment for innovation and entrepreneurship.
Read more: HUMAIN, AWS unveil $5 billion AI Zone in Saudi Arabia to accelerate global AI leadership
In 2024, Saudi Arabia made significant strides in driving innovation and entrepreneurship with the launch of several AI incubators aimed at supporting startups in the artificial intelligence sector. One of the major announcements was a substantial investment of $1 billion into a regional AI startup accelerator, revealed on the first day of the Leap 2024 conference. This initiative was part of the government’s broader strategy to position the Kingdom as a leader in AI innovation.
Furthermore, SparkLabs Group introduced the AIM-X accelerator, which is part of the national AI.M (Artificial Intelligence Mission) initiative. This program targets early-stage AI startups and offers a $200,000 investment in exchange for equity, designed to stimulate a comprehensive ecosystem of AI innovation in Saudi Arabia.
