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Saudi Arabia's deep tech startup ecosystem is rapidly expanding, with 50% of startups focusing on AI and IoT. This growth is crucial for achieving the Kingdom's Vision 2030 goals, which aim to diversify the economy and reduce oil dependency. Over 43 high-growth startups have collectively raised more than $987 million, showcasing the Kingdom's potential as a tech hub in the Middle East.
The deep tech sector is attracting international attention, with significant venture capital availability and government support. Projects like NEOM and KAUST University are pivotal in positioning Saudi Arabia as a leader in technology and innovation. As investments in infrastructure and education continue, the startup ecosystem is expected to flourish, aligning with the Kingdom's ambitious plans for a sustainable future.
• 50% of Saudi deep tech startups focus on AI and IoT.
• Saudi Arabia ranks among the top three ecosystems for tech funding.
AI is a key focus for many startups in Saudi Arabia, driving innovation and investment.
IoT technologies are integral to the deep tech startups contributing to Vision 2030.
The availability of venture capital is crucial for the growth of deep tech startups in Saudi Arabia.
Hello Tomorrow is a consultancy firm that highlights the growth of deep tech startups in Saudi Arabia.
KAUST plays a significant role in fostering innovation and research in AI and IoT within the Kingdom.
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