Saudi Arabia Launches Initiative to Establish 50 Semiconductor Design Companies by 2030
In a groundbreaking move, Saudi Arabia unveils plans to set up at least 50 semiconductor design companies in the country by 2030. This initiative is part of the new National Semiconductor Hub aimed at developing the sector and fostering innovation.
Financial Support and Training Programs
The endeavor will be backed by a deep tech venture capital fund exceeding SR1 billion ($266 million) and access to SR150 million in support products from Saudi Arabia’s National Technology Development Program. These financial resources will play a crucial role in nurturing the semiconductor design industry ecosystem in the Kingdom.
Additionally, the initiative aims to attract 25 world-class experts in the field through a premium residency program and train 5,000 engineers in semiconductor design by 2030. This focus on talent development underscores Saudi Arabia’s commitment to building a skilled workforce in this critical sector.
Addressing Global Semiconductor Shortages
Following the global semiconductor shortages sparked by the 2019 epidemic, the importance of the sector has been magnified. Saudi Arabia’s strategic approach to addressing this issue includes incentivizing innovation and investing in the industry, emphasizing the intersectional nature of technological advancements.
Collaboration for Success
During the Future of Semiconductors Forum in Riyadh, Ross Jatou, president of Alat Semiconductors, highlighted the collaborative effort required to drive this initiative forward. By partnering with organizations like KACST and KAUST, Saudi Arabia aims to accelerate the development of its semiconductor industry ecosystem and position itself as a global player in this field.
Shaping the Future of Semiconductors
The forum at KACST brought together experts and stakeholders from academia, industry, and government to discuss critical topics shaping the future of the semiconductor industry. Through ongoing collaboration and investment in talent development, Saudi Arabia is poised to make significant strides in the semiconductor design sector by 2030.