Saudi Arabia has launched a National Semiconductor Hub to attract chip makers to the country. Supported by a deep tech venture capital fund exceeding $266 million, the new initiative aims to attract at least 50 semiconductor design companies to the kingdom by 2030.
The hub will attract over 25 world-class experts in the field through a premium residency programme and aims to train over 5,000 engineers in semiconductor design by 2030.
Launched during the third edition of the Future of Semiconductors forum in Riyadh, the initiative also aims to provide SR150 million to support products from the Saudi Arabia National Technology Development Program. The initiative also aims to incentivise and attract talent to the sector.
The focus is on innovation rather than just fundraising by launching a deep tech venture capital fund exceeding SR1 billion and investing in the industry.
Moreover, the hub seeks to attract 25 world-class experts in the field through the premium residency program and aims to train 5,000 engineers in semiconductor design by 2030.
Speaking at the forum, Ross Jatou, president of Alat Semiconductors, a subsidiary of the Public Investment Fund, emphasised the importance of integrating diverse technologies in modern ventures. He stated, “I believe the future lies in merging various technologies that were once considered distinct. This integration, which we now often take for granted, is present in everyone’s phones, cars, and more. However, Alat cannot achieve this alone.”
He continued, “As the saying goes, it takes a village to raise a child. We will make this a reality with the National Semiconductor Hub and the support of KACST (King Abdulaziz City for Science and Technology) and KAUST (King Abdullah University of Science and Technology). While Silicon Valley took decades to build, our collaboration through the National Semiconductor Hub will accelerate this process.”
The two-day forum at KACST gathered experts and stakeholders from academia, industry, and government to discuss pivotal topics shaping the semiconductor industry’s future.
