The Saudi Ministry of Investment signed two memoranda of understanding on the sidelines of LEAP 2026 in Malham, north of Riyadh, as part of efforts to bolster the Kingdom's digital economy, which is witnessing unprecedented expansion with a market size exceeding $139 billion. The first MoU activates the Next Generation Investment and Entrepreneurship Initiative in education technology, while the second aims to support tech startups and enable them to scale and enter the Saudi market, according to a report by Aleqtisadiah.
The signing comes as LEAP 2026, now in its fifth edition, has transformed from a tech event launched in 2022 into a global investment platform gathering over 1,800 companies and 1,900 investors, underscoring Saudi Arabia's shift from a consumer of technology to a producer and exporter. The conference coincides with the growth of venture capital investments in the Kingdom to $1.72 billion, making it the region's leader for the third consecutive year.
Minister of Communications Abdullah Al-Swaha had announced yesterday over $15 billion in tech launches and investments during the opening of LEAP 2026, emphasizing that the event has become the "largest tech movement" with the support of Crown Prince Mohammed bin Salman. The agenda includes tracks in artificial intelligence through the DeepFest program, fintech, health, sports, space, gaming, and infrastructure, alongside new platforms such as Sports Tech Hub and World Tech Zone.
On the sidelines, the "Digital Saudi" exhibition features more than 20 government digital launches, 30 agreement signings, and 15 dialogue sessions, reflecting the comprehensive digital transformation underway in the Kingdom.