Riyadh, January 03, 2025 – The Ministry of Communications and Information Technology (MCIT) has released a comprehensive report highlighting the remarkable achievements of its Center of Digital Entrepreneurship (CODE) throughout 2024. The report underscores CODE’s pivotal role in advancing Saudi Arabia’s digital entrepreneurship ecosystem, marking a year of substantial progress in fostering innovation and supporting the Kingdom’s ambitious Vision 2030 objectives.
As one of the key drivers of digital transformation in Saudi Arabia, CODE has been instrumental in shaping a thriving entrepreneurial landscape that encourages creativity, technological advancements, and business development. The centre’s initiatives have played a significant role in empowering local entrepreneurs, enabling them to leverage emerging technologies, create new ventures, and contribute to the diversification of the national economy.
According to the report, CODE has had a profound impact on the Kingdom’s digital economy, with over 17,300 beneficiaries directly benefiting from its programs and services. The centre's focus on nurturing innovation and expanding opportunities for local entrepreneurs led to the successful support of more than 400 startups across various digital sectors, ranging from fintech to e-commerce and beyond. Furthermore, CODE’s efforts resulted in the creation of 1,200 new job opportunities, a testament to the centre's commitment to not only empowering entrepreneurs but also addressing the country’s employment needs in the digital space.
In terms of financial impact, CODE has facilitated 50 investment rounds, securing a total of SAR 162 million in funding for startups. These investment rounds are a crucial component of CODE’s mission to connect entrepreneurs with the capital and resources necessary to scale their businesses. Additionally, the centre has played a vital role in fostering innovation, with over 300 new technical prototype business models developed through its programs. These prototypes are an essential part of building the next generation of successful digital businesses, serving as proof of concept and attracting further investment.
Another noteworthy achievement highlighted in the report is the establishment of seven innovation labs across five different regions of the Kingdom. These labs serve as incubators for startups, providing them with access to cutting-edge technologies, resources, and mentorship to accelerate their growth. The creation of these labs underscores CODE’s strategic focus on ensuring that entrepreneurs from all regions of Saudi Arabia have equal access to the support and tools they need to succeed.
Furthermore, CODE has established both local and international partnerships aimed at enhancing the innovation environment within the Kingdom. These collaborations have opened doors for entrepreneurs to connect with global investors, industry leaders, and experts, thereby broadening their opportunities for growth and market expansion. By bridging the gap between Saudi startups and international business networks, CODE has positioned itself as a key player in strengthening Saudi Arabia’s position on the global digital entrepreneurship map.
The report reaffirms CODE’s unwavering commitment to fostering innovation and digital entrepreneurship, and its dedication to playing an integral role in the Kingdom’s digital transformation journey. By empowering entrepreneurs, driving innovation, and creating new job opportunities, CODE is helping to enhance the national digital economy and contribute to the long-term success of Saudi Vision 2030.
To explore the full report and gain deeper insights into CODE’s achievements and future plans, visit the following link: [CODE 2024 Annual Report](https://code.mcit.gov.sa/sites/default/files/2025-01/Code%20-%20Annual%20Report%202024%20V4.pdf).