The National Cybersecurity Authority (NCA) is working to accelerate the Kingdom’s entrepreneurship system and encourage innovation, as part of the CyberIC program for the wider development of the cybersecurity sector.
The NCA called on all local startups in the field to register in the “cybersecurity accelerator” for a period of three weeks, through a dedicated platform on its website.
The new accelerator connects startups with investors, with the aim of expanding their activities and developing their capabilities. The program aims to empower 40 startups within a period of three years, provide them with more than 6.5 million riyals (USD 1.7 million) in financial support and more than 500 hours of guidance and direction for enterprises seeking to expand in the cybersecurity sector.
The authority stated that the program also seeks to stimulate the industry and attract foreign and local investments, as part of Saudi efforts to develop the sector and qualify national capabilities.
The launching of the cybersecurity accelerator comes in cooperation with the Saudi Information Technology Company (SITE), and in partnership with Plug and Play - one of the world’s largest technology business accelerators.
The CyberIC program aims to develop and build national capabilities in the field of cybersecurity, localize technology and training content and stimulate the wider domestic cybersecurity sector.
According to NCA, the first phase of the CyberIC includes numerous initiatives, including training employees of national authorities, accelerating cybersecurity activities to stimulate the sector, and encouraging the development of national cybersecurity products, services and solutions.