Saudi Arabia’s crown prince launches $37.7bn Savvy Games Group strategy

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Updated 19 October 2022
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Saudi Arabia’s crown prince launches $37.7bn Savvy Games Group strategy

  • It will also establish 250 games companies in the Kingdom, which will create 39,000 jobs
  • It will also raise the sector’s GDP contribution to SR50 billion by 2030

RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman on Thursday unveiled the Savvy Games Group’s strategy, which is set to invest SR142 billion ($37.7 billion) across four programs, the Saudi Press Agency reported.
“Savvy Games Group is one part of our ambitious strategy aiming to make Saudi Arabia the ultimate global hub for the games and esports sector by 2030,” the crown prince said.
“We are harnessing the untapped potential across the esports and games sector to diversify our economy, drive innovation in the sector and further scale the entertainment and esports competition offerings across the Kingdom,” he added.
Fully owned by the Public Investment Fund, Savvy’s strategy is to drive growth by investing in the videogames industry and esports with a unique long-term investment horizon and long-dated capital, creating more opportunities for participation and strengthening partnerships in the games industry, as well as improving the user experience.
The launch of the Savvy Games Group’s strategy will enable and support the recently announced national gaming and esports strategy, as Savvy will invest in several local and international programs and infrastructure in order to provide training, education and entrepreneurship opportunities.
It is also expected to attract international companies to Saudi Arabia through investments and partnerships that will contribute to providing skills, knowledge transfer and building capabilities in the whole ecosystem.
It will also establish 250 games companies in the Kingdom, which will create 39,000 jobs, and raise the sector’s GDP contribution to SR50 billion by 2030.
Savvy’s investments will be based around four key pillars, including enhancing returns, local impact, leaving a global footprint and expanding, leading to international games investing, generating sustainable returns and enabling creators across the entire value chain.
Savvy will accelerate talent in the Kingdom and catalyze Saudi Arabia’s unique geographical location to build the dominant global hub for games and esports.
As a part of the group’s investment strategy, it is set to invest SR142 billion across four programs each with specific objectives. Some SR50 billion has been earmarked for the acquisition and development of a leading game publisher to become a strategic development partner. Another SR70 billion will see Savvy make a series of minority stake investments in key companies that support its game development agenda, SR2 billion in diversified investments in industry disruptors to grow early-stage games and esports companies, and SR20 billion invested into mature industry partners who add value and expertise to Savvy’s portfolio.
This strategy will be delivered by Savvy’s five independent subsidiaries specifically devoted to different sectors and ecosystem development.
These five companies comprise Savvy’s esports arm, EFG, which was created following Savvy’s earlier acquisition of ESL and FACEIT groups. Together, EFG already comprises a significant part of the world’s competitive gaming ecosystem, and it combines ESL’s strength in building, broadcasting, and commercializing premium content with FACEIT’s capabilities as a best-in-class online platform.
Nine66 is building an ecosystem for game developers and studios to thrive through providing a suitable infrastructure, offering talent and participation opportunities, and providing financing and consultancy support. The company is also offering publishing services in the Middle East markets, which allows international developers to enter regional markets.
VOV company, specialized in building gaming and competition venues, aims to develop skills and provide a healthy environment for players by building a series of quality venues that consider the health and care of all players, in a step that is the first of its kind globally, by providing healthy food, a supportive social environment and motivating players to adopt a healthy lifestyle.
VOV opened the first of its venues in May, one of three planned venues that will open in the short-term, as it seeks to expand regionally and globally.
The company will also provide programs designed to train and guide young gamers who aspire to break into the competitive esports industry.
The group also will establish the first global games studio to be launched in Saudi Arabia, which will offer a range of games to global audiences. Specialized teams will be formed focusing on mid-core games — which are more complex and require more time investment from the player than hyper-casual products — and will seek to take advantage of acquisition opportunities available in the Kingdom and international markets to attract games and studios under the Savvy Group’s umbrella.
The strategy also includes establishing the Savvy Games Fund, which will invest in leading publishers and developers and facilitate establishing their bases in the Kingdom.
Collectively these companies will create synergies across every part of the games and esports industry, growing the sector through targeted investments in developers and publishers, investing in technology innovation, content creator funding, and developing world-class event and venue concepts.
Savvy Games Group, whose CEO is Brian Ward, former head of worldwide studios at Activision Blizzard, is a games and esports company founded to drive the long-term growth and development of esports and the wider games industry worldwide. As a global champion of this buoyant sector, Savvy aims to become a global leader in games and esports through deploying significant capital over long-term horizons.
Its investments will create opportunities for participation and progression in the sector, across gender, geography, means and ability. Savvy’s investments are intended to drive the growth of the sector globally, making it a more supportive, exciting, and rewarding place for fans, players, developers, and technology innovators. This will facilitate broader, more equitable access to this fast-growing, dynamic sector.

 

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Mawhiba to host ‘Beyond Creative Minds’ conference this month

Updated 14 November 2024
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Mawhiba to host ‘Beyond Creative Minds’ conference this month

  • The organization, which nurtures the talents of gifted students, says event is a ‘global platform for talented and creative youth to collaborate in building a prosperous future’
  • It is expected to attract experts and researchers in the fields of science, technology and innovation from more than 50 countries

RIYADH: Mawhiba, an organization that works to nurture the talents of gifted students in scientific fields, will hold its third international conference this month with the theme “Beyond Creative Minds.”

Its Global Conference for Giftedness and Creativity will take place from Nov. 24 to 26 at King Abdullah Petroleum Studies and Research Center in Riyadh. Khalid Al-Sharif, the organization’s acting secretary-general, described the event as a “global platform for talented and creative youth to collaborate in building a prosperous future through the exchange of ideas and expertise.”

He told the Saudi Press Agency: “The event reflects the Kingdom’s commitment to supporting and empowering talent and promoting a culture of innovation to address future global challenges.”

The conference is expected to attract experts and researchers in the fields of science, technology and innovation from more than 50 countries, many of whom will give keynote speeches, take part in panel discussions and lead workshops.

Al-Sharif said the event will include a “‘creathon’ aimed at finding creative solutions to contemporary challenges. Attendees will also have access to exhibitions and various cultural visits scheduled alongside the conference.”

He added that Mawhiba, more formally known as the King Abdulaziz and His Companions Foundation for Giftedness and Creativity, will continue to develop talent, support creativity and provide resources to nurture the potential of gifted individuals. He thanked Minister of Education Yousef Al-Benyan for the substantial support he provides for the biennial conference.


Saudi and French ministers discuss cultural cooperation

Updated 14 November 2024
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Saudi and French ministers discuss cultural cooperation

  • Prince Badr bin Abdullah bin Farhan and Rachida Dati discussed cultural exchanges and cooperation relating to museums, libraries, theater, the arts, cuisine, heritage and film production

RIYADH: Saudi Arabia’s minister of culture, Prince Badr bin Abdullah bin Farhan, and his French counterpart, Rachida Dati, held talks in Paris on Wednesday on cultural cooperation.

They discussed cultural exchanges between their countries and cooperation relating to museums, libraries, theater, the arts, cuisine, heritage and film production.

Riyadh and Paris are looking to strengthen partnerships, nurture talent through training programs for workers in cultural sectors, and exchange expertise, the Saudi Press Agency reported. The Kingdom’s assistant culture minister, Rakan Al-Touq, also took part in the meeting.


Riyadh governor receives Albania’s envoy

Updated 13 November 2024
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Riyadh governor receives Albania’s envoy

Riyadh Gov. Prince Faisal bin Bandar received Ambassador of Albania to the Kingdom Saimir Bala in Riyadh on Wednesday.

They discussed various topics of common interest, the Saudi Press Agency reported.

Meanwhile, Eastern Province Gov. Prince Saud bin Nayef bin Abdulaziz met with Ukrainian Ambassador to Saudi Arabia Anatolii Petrenko in Dammam on Wednesday.

Prince Saud welcomed the ambassador to the Eastern Province. During the meeting, the two exchanged friendly talks and discussed a number of topics.
 


Biofach offers look into Saudi Arabia’s agricultural growth, future

Updated 13 November 2024
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Biofach offers look into Saudi Arabia’s agricultural growth, future

  • The Kingdom and MENA region represent an emerging market for organic food, says organizing official

RIYADH: Saudi Arabia is among the Gulf Cooperation Council nations taking significant steps to invest in developing its organic food and beverage sector, which has experienced a growth surge in recent years.

The three-day Biofach Saudi Arabia, which was held alongside Saudi Organic Food Day and concluded on Wednesday, is a key platform showcasing the Kingdom’s commitment to developing its agricultural future.

Biofach was organized by 1st Arabia Tradeshows and Conferences in collaboration with NurnbergMesse, with support from the Saudi Ministry for Energy, Water and Agriculture and the Saudi Organic Farming Association.

Christian Beyer, manager of international events at NurnbergMesse, highlighted the potential of the Middle East and North Africa region: “The MENA region, especially Saudi Arabia, represents an emerging market for organic food that was estimated at USD 7 billion in 2022 and can expect ongoing growth.”

Recognizing the importance of organic farming for food security and environmental sustainability, Saudi authorities are focusing on enhancing rural production and improving supply chains to ensure organic products reach consumers efficiently.

The exhibition’s knowledge-exchange platform addressed local challenges, including effective water and fertilizer management, which are crucial for the region’s arid climate.

Among the exhibitors was the Saudi company Aamal Al-Andalus, which provides organic fertilizers to address soil degradation and declining fertility. Their products are said to help treat and reduce environmental stress, increase agricultural production, and improve the quality of crops to enhance export opportunities.

Youssif Abdulqader, sales manager and engineer at Aamal Al-Andalus, told Arab News: “Food around the world is increasingly going organic, particularly when all inputs in the plants come from organic and safe sources.”

He noted that this shift is largely driven by the health issues linked to consuming fruits and vegetables produced through conventional farming methods, which are often less beneficial or even harmful to human well-being.

Abdulqader explained: “Conventional farming practices are generally well-structured and effective; however, they face challenges such as the excessive use of pesticides and their persistence in the soil.”

Farmers often encounter bacterial issues within their crops that need to be addressed cost-effectively to maximize profitability.

“This is where organic alternatives can be prohibitively expensive, prompting conventional farmers to seek cheaper, often internationally banned options,” he added.

He added that the use of pesticides results in chemical residues that can remain in the plant’s environment.

These residues pose significant health risks when consumers ingest vegetables like cucumbers and tomatoes.

“There is a concern that these chemicals may contain heavy metals that the human body cannot process, leading to serious health issues such as cancer, kidney failure, and liver diseases, which are frequently associated with traditional farming practices,” he explained.


Prophet’s Mosque imam attends India peace forum

Updated 13 November 2024
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Prophet’s Mosque imam attends India peace forum

  • More than 50,000 Muslims attended the event, which was broadcast on several media platforms and garnered more than 4 million views

RIYADH: The imam and khatib of the Prophet’s Mosque, Sheikh Abdullah Al-Baijan, took part in a peace conference themed “Islam is the Religion of Humanity and Peace” during his recent visit to India

More than 50,000 Muslims attended the event, which was broadcast on several media platforms and garnered more than 4 million views, the Saudi Press Agency reported on Wednesday.

As guest of honor, Al-Baijan delivered a speech in which he said that Islam was a religion of security and peace. He warned against divisions among Muslims and said that such discord threatened national unity, led to chaos and could incite wars.

Minister for Wakf and Haj in the government of Kerala Shri. V. Abdurahiman also spoke at the event, praising Saudi Arabia for its efforts in promoting Islam, peace and moderation.

Al-Baijan also joined the 35th All India Ahle Hadith Conference in New Delhi, where he commended Saudi Arabia’s efforts, led by its leadership, to promote security, peace, stability and the safeguarding of human dignity globally.