Saudi Arabia's National Technology Development Program (NTDP) Entices Egypt's Leading Tech Startups with a $430 Million Investment to Establish the Gulf's High-Tech Hub
The National Technology Development Program (NTDP) in Saudi Arabia, launched in 2020 as part of the Kingdom’s Vision 2030 blueprint, is transforming the country into a global technology leader by fostering sustainable development, innovation, and a thriving startup ecosystem.
To attract foreign startups, including Egyptian startups, the NTDP offers significant incentives. Riyadh, with the support of the NTDP, has become a magnet for deep-tech startups from Egypt. The city provides access to substantial financial support and grant programs, helping startups scale innovation.
One such recipient is Qara, an Egyptian supply chain technology firm that has secured $2.6 million to fuel its Saudi expansion. This funding, in part, comes from the NTDP's Relocate Initiative, which offers up to $1.4 million per company in non-dilutive grants, comprehensive relocation assistance, and employment subsidies.
Qara's AI-powered platform offers real-time product authentication and traceability, tools crucial in a region battling counterfeit goods and logistical inefficiencies. The company has authenticated over 28 million products and built a network of more than 50,000 users across Egypt, Saudi Arabia, and Kenya.
The NTDP also supports local talent and attracts technological expertise. It has allocated $430 million in capital across six distinct initiatives. These include Bridge, which offers up to $1.3 million for mature tech companies aiming for global expansion, and Connect, a $42 million initiative to help SMEs qualify for national tech projects.
The Venture Debt Initiative offers over $150 million for non-dilutive capital to Series A startups, while TechCrew is a $78 million fund to subsidize the salaries of local tech talent.
Saudi Arabia's commitment to technology is also evident in the construction of a $13 million, 20,000-square-meter factory by Simplex CNC, a Cairo-based manufacturer of Computer Numerical Control (CNC) machines. The factory, scheduled to begin operations in 2026, will produce CNC machines for the broader region. The factory's construction is the result of a MoU signed with the Saudi National Center for Industrial Development (NCID).
Another Egyptian company, Si-Ware Systems, specializing in MEMS and spectral sensing, has recently opened a dedicated office in the Kingdom with support from the NTDP-affiliated Saudi National Semiconductor Hub. The new office in Riyadh will serve as a product development hub focused on next-generation MEMS and inertial sensing devices.
The NTDP's strategy of attracting foreign startups, including Egyptian deep-tech firms, is seen as a transformative shift in a market that has long depended on technology importation. The program's success is further demonstrated by Boost's offer of $46 million to provide monthly stipends to founders for up to 12 months.
Saudi Arabia is accelerating a multi-billion-dollar technology initiative to transform the Kingdom into a global tech hub. The NTDP plays a crucial role in this transformation, offering a compelling environment for startups aiming to expand their presence in the Middle East.
Venture capital investment is encourageed by the NTDP's Relocate Initiative, providing up to $1.4 million per company in non-dilutive grants to support the expansion of foreign startups, like Qara, in Saudi Arabia. The city's access to substantial finance and grant programs, like Bridge and TechCrew, make it a promising destination for business ventures in technology.
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