Riyadh, December 4, 2024 – The third edition of the French Innovation Tech Summit took place today at the Crowne Plaza in Riyadh’s Digital City, reaffirming the strengthening ties between France and Saudi Arabia in innovation and technology. Organized by Business France in partnership with the Saudi Ministry of Investment and the National Industrial Development and Logistics Program (NIDLP), this flagship event brought together leading stakeholders from both countries to explore opportunities for collaboration in line with Saudi Vision 2030 and France 2030.
One of the key achievements of the summit was the signing of 15 Memorandums of Understanding (MoUs) between French and Saudi companies, underscoring the commitment to long-term partnerships that drive mutual growth.
A Milestone in French-Saudi Collaboration
The summit marks the culmination of months of intensive collaboration between Business France and French companies under the Booster Grow Global Vision 2030 Saudi Arabia program. This eight-month accelerator program supports fast-growing French companies in sectors such as Industry 4.0, artificial intelligence, smart cities, and cybersecurity.
The program is built on four strategic phases:
- Market Preparation – Providing tailored tools to adapt to the Saudi market.
- Bootcamp – A Paris-based training session featuring masterclasses in geopolitics, economics, intercultural communication, and AI.
- Coaching and Mentorship – Offering access to Saudi decision-makers, investors, and industry leaders.
- Immersion and B2B Meetings – Facilitating connections with key local partners during an in-depth business immersion in Riyadh, Jeddah, and Dammam.
2024 Cohort: Driving Saudi Industrial Transformation
This year’s cohort of 20 innovative French companies, selected in May during VivaTech in Paris, represents some of the most promising players in Industry 4.0 and emerging technologies. Supported by key Saudi entities such as the Ministry of Communications and Information Technology, NIDLP, and STC InspireU, these companies are at the forefront of fostering industrial and technological advancements in Saudi Arabia.
As part of the program, the delegation arrived in Riyadh on December 1 and will remain in the Kingdom until December 11, engaging with major Saudi entities in Riyadh, Jeddah, and Dammam.
Strengthening Strategic Partnerships
At the heart of the summit was the commitment to advancing Saudi Arabia’s National Industrial Strategy, which aims to triple the Kingdom’s industrial GDP by 2030. Through the Booster Grow Global program, two-thirds of participating French companies have already established joint ventures, regional offices, or headquarters in Saudi Arabia.
This year’s symposium featured high-level discussions between French and Saudi industrial leaders, including representatives from the “Saudi Made” initiative and La French Fab, fostering strategic partnerships to support sustainable industrial growth in the region.
A Testament to Shared Vision
Speaking at the summit, representatives from Business France highlighted the program’s success in promoting French expertise in innovation and industrial technologies while aligning with Saudi Vision 2030’s ambitious goals. The event also celebrated the support of Saudi partners who played a vital role in the success of this year’s Booster Grow Global program.
