Saudi Arabia has announced Ignite, a new programme for digital content creation and production, which will be back by a $1.1bn investment.
The announcement was made on day two of LEAP22, the global technology platform taking place in Riyadh. The Ignite programme will also include new investments and support for next-generation connectivity and communications infrastructure. A new partnership as part of the initiative will see Trend Micro open its regional headquarters in Riyadh.
The investment of $1.1bn comes as part of Saudi Arabia’s plans to accelerate its digital ecosystem and leverage its position within the MENA region to become a leading international digital economy. The implementation of Ignite intends to see Saudi Arabia transformed into a leading digital entertainment and media production hub.
The programme aims to triple Saudi Arabia’s digital content market size in sectors including gaming, audio, video and advertising. Furthermore and due to the financial investment, Ignite will include incentives such as financial support for local, regional and international companies and start-ups; infrastructure development; talent development programmes and improved policy regulations, which will enable to sector to grow more rapidly.
