Saudi Arabia Launches National Semiconductor Hub With US$266 Million Fund

At the 2024 Future of Semiconductors Forum in Riyadh in June, Saudi Arabia launched the National Semiconductor Hub, a strategic initiative backed by a $266 million deep tech-focused venture capital fund that aims to attract at least 50 semiconductor design companies to the Kingdom by 2030. 

Speaking at the Forum, Dr. Mohammed AlOtaibi, Acting Head of the Saudi Research Development and Innovation Authority (RDIA), said, “The semiconductor industry is projected to become a $1 trillion industry in the next few years, and Saudi Arabia must play a role in this growth, both regionally and globally, over the coming years. To support this growth, the RDIA is creating one national umbrella for the local semiconductor industry to thrive over the next few years.” 

Arab News reported that this undertaking will also provide access to US$40 million in support products from Saudi Arabia’s National Technology Development Program, which is integral to the country’s Vision 2030. Besides running a premium residency program aimed at attracting 25 world-class experts in the field to Saudi Arabia, the initiative also aims to train 5,000 engineers in semiconductor design by 2030. 

The National Semiconductor Hub is part of Saudi Arabia’s efforts to establish a semiconductor design industry ecosystem in the Kingdom, which has been pegged to be worth approximately US$13 billion.