The Gaming and E-sports Sector Financing Program is a funding program aimed at stimulating the e-gaming sector in the Kingdom of Saudi Arabia across thirty-three different fields, including e-sports and infrastructure. With a financing value of up to SAR1.8 billion, the program was launched by the Saudi Esports Federation in collaboration with the Digital Content Program (Ignite), targeting startups, and small and medium-sized enterprises in the gaming and e-sports sector.
Gaming and E-sports Sector Financing Program objectives
The Gaming and E-sports Sector Financing Program aims to provide financial products and solutions through development funds and banks affiliated with the National Development Fund in partnership with private sector financial institutions. The program seeks to establish promising experiences, provide an integrated economic system to create a stimulating environment for attracting national talents through financial support and empowerment, and attract high-quality projects in the fields of developing and producing electronic games. Additionally, it supports sports teams in international competitions by enhancing the presence of the gaming and e-sports sector both in the Kingdom and globally.
Support for the Gaming and E-sports Sector Financing Program
In September 2022, the National Development Fund announced a program to finance the gaming and e-sports sector with a budget of SAR300 million. This initiative aims to enhance the Kingdom's position globally and empower the gaming and e-sports sector to significantly contribute to the national economy. It supports the realization of Saudi Vision 2030 by developing the sector and increasing its contribution to the gross domestic product (GDP) by creating new career paths and job opportunities and diversifying the non-oil economy. The program is part of a package of financing initiatives implemented by Saudi Digital Content Initiative 'Ignite,' to develop and stimulate the digital content sector in the Kingdom.
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