LEAP23 Promotes New Digital Investments in Saudi Arabia
Riyadh hosted LEAP 2023, the 2nd-edition of the world’s most visionary technology event, from 6-9 February, 2023, at the strategically-located Riyadh Front Exhibition & Conference Centre (RFECC), featuring a series of new investment and funding programmes to accelerate Saudi Arabia’s multiple-field digital transformation.
Co-organised by the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP) with tahaluf – a strategic joint venture co-owned by Informa PLC and SAFCSP – LEAP23 displayed transformational talent, a product showcase of advanced and generative technology potential, and a celebrity cast of government policy-making leaders, billionaire business magnates, entrepreneurs, musical icons, and sporting heroes turned financiers and futurists.
The event announced further investments to the tune of $580 million, with fresh ones to more than $9 billion revealed earlier this week to support future technologies, digital entrepreneurships, tech startups, and enhance Saudi Arabia’s position as the largest digital market in the Middle East and North Africa (MENA) region. The new deals included the launch of a major data centre and two dedicated academies for developing and unearthing technical skills and homegrown talent by providing them with the tools of the future.
In his keynote address, Saudi Minister of Communications and Information Technology Abdullah Alswaha says, “Technology and innovation have enormous potential to transform economies and societies. We live in a time where you either leap or be left behind. We are proud to host LEAP to help the region lead and leapfrog with technology and innovation.”
There were over 900 exhibitors who made new contacts with thousands of regional and international tech professionals.
Under Saudi’s Digital Content Council, the Ignite programme launched several package financing programmes and private sector partnerships amounting to $170 million. Technology consulting services major Wipro announced investments of $110 million to expand its cloud studio service, develop digital healthcare solutions, and support local talent development. Global games development platform Unity announced its first regional academy and a centre for developing electronic games in partnership with MCIT to create and foster technical talent. Leading IT, software, and cloud computing company Zoho plans to expand its presence in the Kingdom, confirming an allocation of $300 million over the next decade as a portfolio balance to support Saudi startups to aid the country’s digital transformation. While DAMAC Group announced its investment expansion in Saudi Arabia’s large data centres, Amazon has pledged for its first regional academy to train and develop over 35,000 talents, providing them with professional certificates in cloud computing and artificial intelligence (AI).
LEAP23 had over 700 speakers, from footballers-turned-tech-enthusiasts to investors with multi-million dollar portfolios, who joined the stellar lineup including Thierry Henry, French football legend and tech investor; Baroness Karren Brady CBE, vice chairman, West Ham United F.C.; Tim Draper, American billionaire, venture capital investor, and founder of Draper Fisher Jurvetson (DFJ), Draper University, Draper Venture Network, and Draper Associates; Ana Marques, CEO of Barcelona-based brain-treatment company Neuroelectrics; Pekka Lundmark, president and CEO of Nokia; Ioana Matei, head of Metaverse/Web3, creative director, producer, and co-founder at Procter & Gamble, London Area; Steven Bartlett, British businessman, entrepreneur, TV personality, and founder of award-winning and hugely innovative social media marketing agency Social Chain; and James Caan, British-Pakistani entrepreneur, media commentator, and former investor on BBC’s reality television business programme Dragons’ Den.
