Saudi Arabia launches a fund to invest in semiconductor companies

Saudi Arabia announced the launch of a fund worth one billion riyals to invest in semiconductor companies with the aim of stimulating small and medium-sized emerging companies to adopt this industry.

The announcement of the establishment of the fund came during the activities of the “Semiconductor Future Forum,” which was launched in Riyadh today, Wednesday.

The new fund aims to bring the number of sector companies operating in Saudi Arabia to 50 companies within 5 to 6 years.

Saudi Arabia intends to attract international chip companies to work by offering special incentives and providing the necessary financing.

The National Semiconductor Center supervises the fund, while 3 companies have already registered, and 10 other companies have requested to join.

Saudi Arabia is offering 10 incentives to companies, including access to the semiconductor fund and engineers that the kingdom plans to train and move to the country.

The Semiconductor Future Forum brings together a number of decision makers, industry leaders, experts and researchers in the field of semiconductor technologies, such as Professor Shuji Nakamura, winner of the 2014 Nobel Prize in Physics, who invented blue/green LEDs and ultraviolet laser diodes, and Professor Kang Wang, professor of engineering. Electrical and Computer Engineering, Co-Director of the Center for Quantum Science and Engineering at the University of California – Los Angeles, Professor of Electrical Engineering at Raytheon Company, and Professor Stephen Denbars, Professor of Electrical and Computer Engineering at the University of California – Santa Barbara, Holder of more than 190 US patents, Co-Founder Institute of Electrical and Electronics Engineers, and the establishment of 4 companies in the field of photonics and electronics.

Also participating in the forum are Professor Umesh Mishra, Professor of Electrical and Computer Engineering, Dean of the College of Engineering at the University of California – Santa Barbara, Ross Gatto, President of the Semiconductor Business Unit at Al Alat Company, and Dr. Naveed Sherwani, Chairman of the Board of Directors and CEO of Rapid Silicon, who is involved in designing processor algorithms. Micro Intel Award-winning Professor Gautam Chattopadhyay is a research scientist at NASA’s Jet Propulsion Laboratory and the California Institute of Technology.

The forum aims to review promising opportunities for localizing the electronic chip design industry so that the Kingdom becomes a major player in the electronic chip system, and to enhance research cooperation and exchange of best practices in the field of semiconductor development and manufacturing.

Over the course of two days, the forum will address a number of topics that draw the road map for the future of the semiconductor industry in the Kingdom by exploring opportunities in the semiconductor value chain, from raw materials to electronic chips, and stimulating small and medium-sized emerging companies to adopt the semiconductor industry. Applications of this advanced technology in the fields of space and exploration, photonics technologies, sixth generation communications and beyond, electric power vehicles, and integrated sensors will also be discussed.

The forum’s activities witness the announcement of important initiatives to support the Kingdom’s position in the global field of semiconductors, achieve transformative effects in the Middle East region, contribute to the development of talent in this vital field, and effectively address its challenges. Its agenda includes many scientific activities such as lectures, dialogue sessions, and posters. Research, and an accompanying exhibition for international companies to showcase the latest developments in the field of developing and manufacturing electronic chip design.