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NEOM to invest in Saudi, foreign startups to develop talent

NEOM, the company building a futuristic city on Saudi Arabia’s Red Sea coast, plans to invest in technology startups in both Saudi Arabia and abroad, the head of its technology arm said.

NEOM already has an investment fund that is looking at companies in India and other parts of Asia as well as Silicon Valley and the UK, Joseph Bradley, CEO, NEOM Tech and Digital Holding Co., told Arab News in an interview on the sidelines of the Future Investment Initiative conference in Riyadh.  “We’re also looking at companies here that we can acquire to help accelerate their growth pattern and create value right now with Saudi tech that could be exported to the rest of the world,” he said.

Saudi Arabia is fast becoming a global player for innovation thanks to a record year for startups and funding and NEOM’s product roadmap is based around the idea of a cognitive product solution set. 

Read the full story at Arab News