AI.M: Saudi Arabia’s Ambitious Initiative to Lead in Artificial Intelligence
Saudi Arabia is taking a giant leap into the future with the launch of Artificial Intelligence Mission (AI.M), a national initiative aimed at establishing a robust ecosystem for innovation in artificial intelligence (AI).
This ambitious program seeks to elevate the Kingdom’s status as a regional and global leader in AI within the next five years.
AI.M is a collaborative effort spearheaded by the Ministry of Communications and Information Technology’s National Technology Development Program (NTDP), King Abdullah University of Science and Technology (KAUST), and the Saudi Data & AI Authority (SDAIA).
This partnership underscores the Kingdom’s commitment to harnessing the potential of AI to drive economic growth and technological advancement.
At the heart of AI.M is AIM-X, a startup accelerator program designed to fast-track the development of cutting-edge AI technologies. Led by SparkLabs Group, a renowned early-stage venture capital firm with a portfolio of over 550 startups globally, AIM-X is poised to become a beacon for AI innovation.
SparkLabs has been an active player in the AI investment landscape since 2016, and its involvement in OpenAI’s recent financing round highlights its influence and reach in the industry.
“We are excited to have SparkLabs leading our accelerator program for AIM.
They are the ideal partner since they not only bring a solid track record as investors but have proven access to top AI founders and the ability to help our local founders to become successful and build impactful companies,” stated Ibrahim Neyaz, CEO at NTDP.
SparkLabs has assembled a team of AI luminaries to guide the AIM-X accelerator program. Advisors include Amr Awadallah, Co-founder of Cloudera and now CEO at Vectara, and Sang Cha, Founder of the Graduate School of Data Science at Seoul National University.
The program’s venture partners include industry influencers like Spiros Margaris, Nathan Lands, Nils Westerlund, Joel Pazhayampallil, and Brian Behlendorf, all of whom bring invaluable expertise and strategic insights to the table.
William Chu, Managing Partner at SparkLabs AI Lab, expressed his enthusiasm about the partnership: “We are honored and excited to be partnering with AIM to launch the AIM-X Accelerator Program.
We are eager to help develop and nurture the AI ecosystem in Saudi Arabia, and have activated our global network to source the most promising AI startups, both foreign and domestic, to join our inaugural cohort slated to begin this September.
We strongly believe that KSA is poised to become a key AI hub for the region as well as globally.”
AIM-X will start accepting applications on June 14th, inviting early-stage (seed and series A) AI startups to apply. Selected companies will receive a $200,000 investment in exchange for up to 6% equity.
The program is set to commence on September 17, 2024.
This initiative marks a significant milestone in Saudi Arabia’s journey towards becoming a leader in AI, fostering a thriving ecosystem that will drive innovation, economic growth, and technological excellence.
