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In localizing Emerging Technology Companies; Saudi Arabia is a Candidate for the World

In conjunction with the mega projects that the Kingdom draws in line with the High Vision 2030, which focuses in all its details on technology and artificial intelligence, and in line with the Kingdom’s trend towards establishing global smart cities, such as the one recently announced by His Highness Crown Prince Mohammed bin Salman (The Line City), the Kingdom continues its direction In localizing emerging technology companies and supporting and strengthening incubators for emerging companies in the field of technology to benefit from the juice of young people’s efforts and employ their efforts in a way that serves the national economy and promotes the introduction of the modern digital system in the labor market.

This trend, which the Kingdom continues to pursue, with great support from the government, and integration and cooperation between the public and private sectors, will make the giant companies in the Kingdom major incubators for emerging companies in the field of technology, especially since this field – digital dealing and technology – has become favorable for many companies and investors in line with the precautionary measures that Imposed by the Corona pandemic.

The government tendency in general is pushing institutions, projects and companies in the Kingdom to adopt modern technology activities and rethink their logistical plans to shift to the digital aspect that is in line with quarantine measures, as well as the sustainability of their projects, which will make technology and technological activities the favorite and main component of these entities in exchange for Unlimited government facilities in this aspect.

All these facilities and making the most of the opportunities and the ingredients have doubled the number of startups in the Kingdom, which made many specialists expect that the Kingdom is likely to advance on a global level in the localization of emerging technology companies and that the Kingdom will acquire the first ranks in the world for incubators of emerging companies in technology sectors by the year 2022; according to a recent report, which shows that Riyadh is ranked second in terms of the number of investors and emerging companies in the sector.

Many companies and institutions had concluded a number of agreements and understandings with a number of emerging companies in the Kingdom to benefit from their service and employ their ideas to enhance the work of companies and institutions and the sustainability of their projects.

This is how Saudi Arabia draws visions with an insightful outlook for a modern future, with government support and facilities, cooperation and integration between the public and private sectors, and the provision of an incubating and attractive environment for investment, which makes it always top of the global nominations lists.