Riyadh - Sharikat Mubasher: Saudi Arabia’s Ministry of Communications and Information Technology launched the Technology Champions Program, in collaboration with the National Technology Development Program (NTDP) to foster promising tech companies, the ministry announced in a statement.

As part of its first phase, the Technology Champions Program is set to inject circa SAR 200 million to support tech companies and empower them to expand globally.

The program will provide a wide range of services including investment opportunities, merging and acquisition, R&D, and innovation, in addition to elevating the companies’ capabilities and talents.

The Technology Champions Program targets attracting local companies working in 28 tech fields whose revenues are expected to exceed SAR 100 million by 2025.

The program is co-organized by The Garage and Center of Digital Entrepreneurship.