Saudi Arabia Launches a New Event Focused on Tech called LEAP by Richie Santosdiaz for The Fintech Times
Fintech Middle East & Africa

Saudi Arabia Launches a New Event Focused on Tech

The Kingdom of Saudi Arabia, or commonly in the Gulf Cooperation Council (GCC) region also known as ‘KSA,’ is putting itself at the forefront of emerging tech through large-scale adoption and ambitious pilot projects. Its ambition will be showcased on a global stage and the Kingdom will become a hub that connects three continent via a new event. The landmark event is supported by the Saudi Government, powered by the Ministry of Communications and Information Technology (MCIT) and will host leading global tech companies; the event will be called LEAP. 

LEAP is a landmark technology event of national importance that supports the Kingdom’s Vision 2030 for a knowledge-based economy, is poised to galvanise public and private organisations in the region and beyond, drive female empowerment, unlock the Kingdom’s boundless investment potential for seismic economic diversification, and propel the nation into the ranks of the world’s top 20 tech-enabled nations.

Backed by a multitude of government organisations, LEAP will serve as a catalyst for monumental digital transformation across every sector of Saudi industry and business. Merging large-scale tech adoption solutions and ambitious pilot projects, the event will debut at the new Riyadh Front Exhibition Centre – the largest in Saudi Arabia – from February 1-3 next year.

LEAP arrives as Saudi’s investment in the domestic and international startup ecosystem is forecast to exceed the multi billions USD mark in coming years, with Saudi Venture Capital Company (SVC), a government-backed venture capitalist, pledging $750 million USD to stimulate new businesses in the Kingdom; Saudi Technology Ventures (STV), the Middle East’s largest venture capital fund, launching a $500 million tech fund to back startup founders, young entrepreneurs; and Public Investment Fund (PIF) reporting over $50 billion to invest in emerging technology. LEAP will feed the startup climate and directly link star-gazing entrepreneurs with future focused investors.

LEAP is integral to MCIT’s five-year strategy aimed at accelerating the growth of the Kingdom’s digital economy by 50%, elevating its GDP contribution by US$13.3 billion, increasing foreign investments and continuing the drive of empowering women in the Kingdom’s tech sector and encouraging Saudi youth to pursue their dreams.

H.E Minister Eng. Abdullah Amer Al-Swaha, Saudi Arabia’s Minister of Communications and Information Technology, said, “LEAP will be the most iconic and seismic tech event for a generation; where East meets West and tech innovation meets investment. The event will have reverberations around the world and serve as a catalyst as the Saudi government gears up to transform and diversify its economy. LEAP will be a key factor in growing the IT sector, boosting ICT’s GDP contribution by SR50 billion ($13.3 billion USD) over five years, securing foreign investment, assisting our Saudisation employment ambitions, empowering a female workforce and attracting international talent.”

Powered by Saudi Arabia’s Ministry of Communications and Information Technology (MCIT), and organised by Informa Tech, LEAP is a strategic initiative to transform the national economy and position Saudi Arabia as a visionary tech hub connecting three continents with the global industry. Backed by Saudi Arabian government and the Kingdom’s major investors and mega infrastructure projects, LEAP aims to reform business opportunities and empower the funding of ideas and nurturing of tech startups – from KSA to San Francisco, and everywhere in between.

The disruptive event’s global, future-ready aspirations reflect Saudi Arabia’s national ambitions, with LEAP serving as a physical manifestation of the Kingdom’s goal to sit at the global forefront of emerging tech.

Wadha Bin Zarah, Women Empowerment Director at MCIT, said, “Saudi Arabia already has a flourishing female participation in its tech sector, and we aim to nourish that passion and boost female representation to the highest in the world,” said Wadha Bin Zarah, Women Empowerment Director at MCIT. LEAP will look to empower women in the local IT industry further through several measures such as recognizing and rewarding female tech leaders and giving female-led startups access to potential funding. By creating an event which has true equality of opportunity, everyone in attendance will have equal possibilities to benefit from the awards, funding, prize funds, knowledge sharing and networking available.”

Informa Tech‘s Managing Director Carolyn Dawson said, “LEAP will be where the Saudi government, sovereign and privately-held wealth funds will purchase pilot technology before anyone anywhere else in the world. Government investment funds, family offices, sovereign wealth funds, corporate accelerators, incubators, venture capital, private equity and angel investors will provide more tech investment than any event of its kind. The event will be a conduit to global tech innovation; corporate buyers will initiate and announce massive tech deals to bring about a seismic shift in the global epicentre of tech adoption. It will be an immersive and experiential exhibition delivering a habitat beyond imagination and reflecting the enormous changes which technology will bring to future lifestyles.”

LEAP will have 14 focused exhibition areas oozing innovation in artificial intelligence, blockchain and crypto, robotics, 3D Printing, IoT, biotech and healthtech, smart mobility and unmanned systems, opensource, quantum, 5G, materials science, space and satellites, data and fintech. Promising hundreds of hours of thought-leading conference content, keynote presentations, talks and lively debates with the major global tech disruptors and change-makers, audiences will also gain penetrating insights into tech advancements across several dedicated stages.

 

Watch the LEAP 2021 Informational Video Below

 

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