Ignite’ to uplift Saudi digital content creation and media production with US$1.1 billion of investments
- US$1.1 billion Ignite plan will make Saudi Arabia a center of digital content creation and production
- Saudi Arabia launches WiFi 6E, ranks first worldwide in WiFi spectrum availability
- Trend Micro announces local data lake and opens its Riyadh HQ
Riyadh, Saudi Arabia: Saudi Arabia today announced Ignite, a new program for digital content creation and production; new investments and support for next generation connectivity and communications infrastructure; and a new partnership that will see Trend Micro open its regional headquarters in Riyadh. The latest round of announcements was made on day two of LEAP22, the global technology platform taking place in Riyadh.
The new program and investments are all part of Saudi Arabia’s plans to accelerate its digital ecosystem and leverage its position in the MENA region to become a leading international digital economy.
IGNITE
The Digital Content Council announced Ignite, a new program that will transform the Kingdom of Saudi Arabia into a leading digital entertainment and media production hub. The program aims to create a comprehensive ecosystem which will attract digital content companies and grow the local media and content creation sector.
Ignite aims to triple Saudi Arabia’s digital content market size in gaming, audio, video and advertising. The program is backed by a US$1.1 billion investment and will include incentives including financial support for local, regional and international companies and start-ups; infrastructure development; talent development programs and improved policy and regulations to enable the sector to grow rapidly.
Training courses will be available in three sectors, gaming, films and digital ads, to upskill more than 4,400 participants in the next three years. The training programs will ensure that Saudi Arabia is developing the skillsets required by the industry and giving Saudi youth skills that will improve their employment opportunities.
The program will supplement the film fund which will be allocated for the infrastructure, development, production and distribution of locally produced movies, and another fund which will focus on gaming to develop games and build the required infrastructure such as game studios.
To further attract local and international partners to Ignite, Saudi Arabia will also enhance intellectual property protection measures. International and local partners will be able to benefit from an investor’s ‘one stop shop’ that will streamline the process for investment into the Saudi digital content economy.
