Foreign soil: Saudi Arabia tech hub is attracting Indian businesses

The Middle East has emerged as a significant hub for technological advancements, and the region holds tremendous potential for technologies such as blockchain solutions, attracting businesses from India as well.

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In September, Genesys International Corporation Limited, (“Genesys”) a Mumbai-based advanced mapping, survey and geospatial services company established a subsidiary in the Kingdom of Saudi Arabia (KSA). This strategic move coincides with a pivotal juncture in KSA’s infrastructure development, notably the NEOM project. The company has secured an order worth INR67 crores in Saudi Arabia. With this, the cumulative order wins in KSA totals INR76 crores. The Company has also recently concluded the indoor mapping of close to 24 airports in Saudi Arabia.

Similarly, in August, Delhi based Beyond Imagination Technologies (BIT), a blockchain/Web3.0 technology company, announced expansion plans into the Middle East region with the partnership with Aba’ad Alkhayal, a software company in Saudi Arabia.

By 2030, Saudi Arabia aims to unleash the full potential of its citizens and resources, embracing digital transformation to forge a brighter, interconnected future for all. This ambitious path includes the transformation of the Kingdom into a fully digitized society, a beacon of technological advancement and innovation

Nikhil Goyal, Co-Founder – Technology, Aba’ad Alkhayal

Nikhil Goyal, Co-Founder – Technology, Aba’ad Alkhayal, said, “By 2030, Saudi Arabia aims to unleash the full potential of its citizens and resources, embracing digital transformation to forge a brighter, interconnected future for all. This ambitious path includes the transformation of the Kingdom into a fully digitized society, a beacon of technological advancement and innovation. Thus, being the frontrunners in the blockchain space, we want to contribute to this aim of the nation to our full potential.”

We aim to drive positive social impact and create a better tomorrow in Saudi Arabia through technology

Princess Hesah Al Saud, Co-Founder, Aba’ad Alkhayal

Princess Hesah Al Saud, Co-Founder, Aba’ad Alkhayal, says, “With this partnership, we envision a future where we harness the power of blockchain to unlock the full potential of our economy. This new beginning will pave the way for digital transformation, creating countless employment opportunities for our citizens and empowering our students with the knowledge and skills needed to embrace this digital revolution. Thus, we aim to drive positive social impact and create a better tomorrow in Saudi Arabia through technology.”

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The Saudi technology hub is becoming popular amongst budding startups on accounts of its world-class research facilities, supportive incubators, and access to global networks and markets.  Moreover, Saudi Arabia has attracted considerable foreign investment in the technology sector, and several successful startups have emerged in the region.