Saudi to invest over $6bn into future tech

Saudi Arabia has invested $6.4 billion in future technologies, it was announced in the recent LEAP forum.

Here are some of the investments already made in the sector:

• Saudi Aramco – $1 billion invested in developing start-ups, through entrepreneurship support fund  Prosperity7 Ventures.
• NEOM Tech & Digital Holding Company –  $1billion in future technologies and the launch of M3LD and XVRS products
• Ignite – $1 billion in quality funds and initiatives to support and stimulate digital content. 
• stc – $1 billion in Mena Hub, which seeks investments in the digital infrastructure to consolidate Saudi Arabia’s position as a hub for connectivity, communication and cloud computing.
• J&T Express, and eWTP Arabia Capital –  $2 billion in the smart logistics sector in the region. 
• There was also more than $300 million of investments in digital entrepreneurship, venture capital and startup funds

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