LEAP22, which concluded Friday in Riyadh, saw more than $6.4 billion of investments and new technology initiatives announced, with $1 million in prizes awarded to the winners of the Rocket Fuel Start-up Competition, an international contest to find the best new business ideas.
LEAP22 saw the announcement of multiple investments and funds for start-ups and entrepreneurs of over $266 million.
Among the announcements was the completion of closing of the second round of Khwarizmi Ventures fund with a value of $69.8 million; investment into the Emkan VC fund of over $49.8 million and the launch by Saudi Venture Investment Company of the Investment in Advanced Stage Funds, with a value of over $134 million, to promote the growth of start-ups.
A new partnership to build start-ups between Unifonic and TheSpaceKSA, called UnifonicX, was also unveiled.
Start-up deals included Nana closing an investment round led by FIM Partners and the STV Fund, worth $50 million; and Quant closing an investment round worth $800,000 led by VentureSouq with participation by RaedVC and Seedra, and also announced an additional round of investment.
Muzn Artificial Intelligence raised an investment round of $10.1 million, led by Raed Ventures with the participation of Shorooq Partners, VentureSouq, Sukna Ventures and others; while Taffi raised more than $1.8 million investment, and SIFI and Tamawal closed pre-seed rounds.
Start-ups from around the world went head-to-head in the Rocket Fuel Start-up Competition, promoting their innovative business ideas to powerhouse venture capitalists and leading international investors, to win a share of the $1 million prize fund.
Seven start-ups were victorious overall, taking home cash prizes for exciting and impactful new business ideas, scored on creativity, innovation, potential, functionality and impact on people and society.
Apple selected Riyadh for its first Apple Developer Academy headquarters in the Middle East and North Africa region. The academy caters solely to female programmers and developers and is located at the Princess Nourah Bint Abdulrahman University.
The Apple Developer Academy will play a significant role in building coding talent in Saudi Arabia and encouraging women to develop their skills and explore careers in this exciting new sector. Female participants have already enrolled at Apple’s Developer Academy in Riyadh.
Michael Champion, regional executive vice president – MEA, Informa, said LEAP22 is a breakthrough success, attracting the biggest audience for a technology event in recent years, surpassing CES, and setting a new record for most attendees to a new platform.
“LEAP22 has been able to bring to Riyadh the leading names in technology with the most exciting new start-ups and creators, to present cutting-edge innovations that will reshape the world around us.
“We would like to thank our world-class speakers, sponsors and partners and look forward to hosting an even bigger LEAP next year,” said Champion.
The debut edition of LEAP was sponsored by STC, Ericsson, Mobily, Huawei, Cisco, SAP, Microsoft, Saudi Digital Academy, National Technology Development Program, Monsha’at and Jahez.
