LEAP 2024 Surpasses Investment Milestone as Technology Sector Sees Record Funding

Hyphen Web Desk

The world's leading technology exhibition, LEAP 2024, has reached a significant milestone, with on-show investments in the Saudi Arabian technology sector now surpassing US$13 billion. This record-breaking figure underscores the event's growing influence in attracting global investment and accelerating the development of the local technology ecosystem.

The news comes as LEAP 2024, held at the Riyadh Exhibition and Convention Centre, entered its halfway point. The event, which runs until March 7, has witnessed a flurry of investment announcements, with a staggering US$888 million unveiled on the second day alone. These investments span various sectors, including digital payments, e-gaming, and artificial intelligence, highlighting the diverse landscape of Saudi Arabia's burgeoning technology scene.

Michael Champion, CEO of Tahaluf, the strategic joint venture organizing LEAP alongside the Saudi Arabian government, expressed his enthusiasm about the event's impact. He emphasized how the substantial investments, coupled with LEAP's comprehensive content program, solidify the event's potential to "convene, leverage, accelerate, and inspire" the nation's dynamic technology sector.

LEAP 2024 has emerged as a prominent platform for showcasing the latest advancements and fostering collaboration within the global technology industry. The event attracts leading tech companies, investors, and entrepreneurs from around the world, creating a unique environment for knowledge sharing, deal-making, and innovation.

This year's edition has placed particular emphasis on supporting local start-ups. The substantial investments announced at the event are expected to provide these young companies with the resources and support necessary to scale their operations and contribute to the continued growth of the Saudi Arabian technology landscape.

The ongoing success of LEAP 2024 serves as a testament to Saudi Arabia's commitment to fostering a vibrant and competitive technology sector. By providing a platform for investment, collaboration, and innovation, the event is well-positioned to play a crucial role in shaping the future of the kingdom's digital economy.

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Hyphen Web Desk

Hyphen Web Desk

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