Riyadh – Sharikat Mubasher: Saudi Arabia’s Digital Government Authority (DGA) and investment firm STV Capital plan to invest up to SAR 500 million in promising artificial intelligence and emerging technology startups, under a memorandum of understanding aimed at developing solutions for government services.
Under the partnership, STV will target investments of up to SAR 500 million in startups emerging from the DGA’s Innovation Center programs, connecting them with real-world challenges faced by government entities, according to a recent press release.
The partnership will also focus on attracting, incubating, and preparing startups, as well as conducting proof-of-concept (PoC) projects within a secure government innovation environment.
Successful solutions will then be supported in moving from the testing phase to actual deployment across the government ecosystem, helping startups scale technologies that address public-sector needs.
The initiative is designed to strengthen collaboration between government entities and startups and accelerate the adoption of AI and emerging technologies in Saudi Arabia’s digital government sector.
