Riyadh, January 09, 2025 – In a groundbreaking collaboration, the Ministry of Communications and Information Technology (MCIT) has partnered with King Abdullah University of Science and Technology (KAUST) and “Hello Tomorrow” to unveil the Deep Tech Report, a comprehensive analysis that explores the current landscape and future prospects of the deep tech ecosystem in Saudi Arabia. This report, launched earlier this week, outlines the significant strides the Kingdom has made in the realm of advanced technologies, while also highlighting key initiatives and areas of opportunity that align with the ambitious goals set out in Saudi Vision 2030.
The Deep Tech Report is a pivotal resource for understanding the trajectory of the deep tech sector in Saudi Arabia, a sector that is increasingly being recognized as a critical driver of digital transformation and sustainable economic development. The report delves into five key pillars that form the backbone of Saudi Arabia's deep tech ecosystem: ecosystem development, investment growth, infrastructure and enabling factors, talent cultivation, and supportive policies, regulations, and government incentives. These pillars are positioned as essential components to accelerating the nation’s ambition to become a global leader in advanced technologies.
One of the report’s most notable revelations is the rapid growth of the deep tech sector in Saudi Arabia, particularly in the fields of artificial intelligence (AI) and the Internet of Things (IoT). According to the report, 50% of the Kingdom's deep tech startups are centered around these two transformative technologies. The country is also witnessing a surge in innovation, with more than 43 high-growth startups driving advancements across various sectors. These startups collectively secured over $987 million in funding in 2022, supported by 104 investors, which underscores the increasing interest and confidence in the Saudi tech ecosystem. The data further highlights the Kingdom’s growing status as a burgeoning hub for deep tech innovation.
Another standout finding in the report is the substantial increase in research and development (R&D) activity in the country. The number of researchers in Saudi Arabia has risen by 75% since 2015, a clear indicator of the Kingdom's commitment to fostering a culture of innovation and knowledge-driven progress. This surge in research capacity is expected to have a far-reaching impact on the development of emerging technologies, further reinforcing Saudi Arabia's position as a global leader in advanced technological solutions.
In his remarks, Deputy Minister for Technology Mohammed Robayan emphasized that the release of this report marks an important milestone in Saudi Arabia's pursuit of becoming a global destination for cutting-edge technologies. He noted that the Kingdom’s investment in innovation, talent, and infrastructure will be crucial to building an integrated ecosystem that not only supports digital transformation but also ensures sustainable development for future generations. Robayan stressed the importance of collaboration between the public and private sectors in driving this transformation, urging stakeholders—particularly academic institutions, investors, and entrepreneurs—to leverage the insights provided by the report in creating a cohesive roadmap for innovation.
He also encouraged greater collaboration across industries and sectors to tap into the enormous potential of the deep tech ecosystem, which plays a vital role in achieving the broader goals of Saudi Vision 2030. The vision’s emphasis on diversifying the economy, developing a knowledge-based society, and positioning Saudi Arabia as a global technological powerhouse aligns perfectly with the growth and development observed in the deep tech sector.
In addition to the report’s analysis, a key focus is placed on the role of research, development, and innovation as a cornerstone of the Kingdom’s future. The deep tech ecosystem, with its focus on transformative technologies such as AI, IoT, blockchain, and renewable energy solutions, represents an unprecedented opportunity for Saudi Arabia to not only shape the future of the digital economy but also to lead the way in solving global challenges related to sustainability, energy, and technology.
The Deep Tech Report underscores that the Kingdom's deep tech sector is rapidly evolving, with a solid foundation built upon strategic government initiatives, growing investments, and a burgeoning network of startups and research institutions. As Saudi Arabia continues its journey toward becoming a global leader in deep tech innovation, the report serves as both a testament to the Kingdom's achievements and a roadmap for the future—outlining the critical steps needed to accelerate progress and build an integrated, resilient, and sustainable technological ecosystem.
By continuing to prioritize innovation and fostering collaboration between public and private stakeholders, Saudi Arabia is well on its way to achieving its Vision 2030 goals and positioning itself at the forefront of the global technological revolution. The Deep Tech Report is poised to play a vital role in guiding this transformation, offering invaluable insights for policymakers, investors, entrepreneurs, and academic institutions looking to contribute to the Kingdom’s burgeoning tech ecosystem.