Saudi Arabia is quickly emerging as a global hub for deep technology (Deep Tech) and artificial intelligence (AI), going beyond its status as a major energy producer. The Kingdom is making significant investments to diversify its economy and create a thriving technology ecosystem, driven by Vision 2030. At the forefront of this transformation is NextEra, a flagship initiative of the National Technology Development Program (NTDP). By combining capital, talent, and unparalleled market access, NextEra is giving startups in AI and Deep Tech the tools to grow faster in Saudi Arabia than almost anywhere else in the world.

How NextEra Accelerates Startups?

Fueling Growth with Non-Dilutive Grants

Founders receive sizable grants (up to USD 1.3 Million) to advance innovation and accelerate deep-tech commercialization, without giving up equity.

Commercialization & Investor Readiness

Startups gain structured mentorship, investor exposure, and networking opportunities that shorten time-to-market and improve fundraising prospects.

Credibility that Unlocks Capital

Graduating from NextEra gives startups a “seal of credibility”. Companies supported so far have raised over 675M SAR (~USD 180M) from private investors.

Building Talent for the Future

NextEra’s focus on advanced sectors helps cultivate a local talent base in AI, robotics, and machine learning, reducing hiring friction for startups.

Beyond Capital: Market Access & Global Reach

NextEra’s impact is amplified by Saudi Arabia’s broader ecosystem.

• Mega-projects as testbeds such as NEOM, The Line, and Qiddiya provide real-world environments to pilot frontier technologies.
• Strong domestic demand in both government and corporates are rapidly adopting AI and smart infrastructure, offering startups ready customers.
• Global exposure through platforms like LEAP, one of the world’s largest tech events, startups connect directly with investors, corporates, and policymakers.
• Strategic geography of Saudi Arabia’s location offers access to a regional market of over 400 million people across Europe, Asia, and Africa.

Next Era in Numbers

• Saudi Arabia’s government has committed 150 million SAR (~USD 40M) in grants through NextEra to fuel AI and Deep Tech startups, so far:
• 937 applicants have competed to enter NextEra.
• 56 companies funded so far across three cohorts: 17 in Cohort 1, 20 in Cohort 2, and 19 in Cohort 3
• Startups supported by NextEra have raised over 675 million SAR (~USD 180M) from private investors.
• These companies have collectively created 170 jobs and filed 27 patents.

What do beneficiaries of NextEra say about the product?

“NextEra’s support gave us the foundation to turn research into real-world impact. With their support, we expanded our technical team, advanced our Agentic AI SOC platform, and validated our models through pilots with leading industry partners. What began as R&D acceleration has now scaled into live deployments, enabling organizations across MENA to strengthen compliance and counter threats with AI-powered analysis and response workflows. This early funding positioned COGNNA not only as a cybersecurity innovator, but as a trusted partner in securing the region’s digital future.” — Ziyad Alshehri, CTO, Cognna

“We’re really grateful for the support we received from NextEra. Their grant gave us the chance to bring in the right talent and build something meaningful. With their help, we managed to run a successful pilot with five banks, processing more than SAR 100 million across nine Islamic repo deals. This momentum also helped us close our $2.4M seed round with top investors. NextEra didn’t just support us financially, they gave us the push and confidence to move faster and prove our vision.” — Mohammed Aljasser CEO & Founder Oumla.com

“The support we received from NTDP came at a critical stage. It enabled us to bring in key talent, strengthen our Arabic-first voice AI technology, and prove its value with real customers in Saudi. That early push gave us the confidence to scale and attract the right partners for the next phase of growth.” — Mashael Alkhalifah, Co-Founder, Hams.AI

“NextEra gave us a launchpad for deep-tech innovation. With non-dilutive grants, we accelerated our R&D in AI and quantum safe infrastructure, validated our technology platforms, and moved faster toward commercialization. The product also provided credibility and market access, opening doors to investors, government stakeholders, and mega-projects. With NextEra’s support, Fathom was able to scale the impact in critical industries like energy, petrochemicals, and industrial communications faster than anywhere else.” — Ibrahim Al-Baloud, Founder, Fathom.io

Conclusion

NextEra is more than a funding product; it is a catalyst for Saudi Arabia’s rise as a global hub for AI and Deep Tech innovation. By combining capital, market access, and government-backed credibility, it provides a launchpad few ecosystems can match. For founders, investors, and innovators, Saudi Arabia is fast becoming the place where tomorrow’s technologies are built, and NextEra is one way the Kingdom is driving the future of AI and deep-tech commercialization.