Accelerating Expansion in the Middle Eastern Market
Sparklabs announced on June 20 that its portfolio company, Neron (Kneron), has been selected for Saudi Arabia's National Technology Development Program (NTDP) "RELOCATE" initiative, securing a large-scale non-equity support grant.
RELOCATE is part of the Saudi government's "Vision 2030" strategy, which aims to attract 50 semiconductor design companies and train 20,000 artificial intelligence (AI) experts by 2030.
Neron logo. Neron
Neron was chosen as a key participant in the RELOCATE program in recognition of its reconfigurable neural processing unit (NPU) technology and commercialization capabilities. With the secured grant, Neron plans to focus on establishing a technology hub for high-performance AI chip research and development (R&D) and commercialization within Saudi Arabia.
An NTDP official stated, "We are very pleased to welcome Neron, which possesses leading technology in edge AI and semiconductor design, to the RELOCATE program," adding, "Through this partnership, we hope to see not only Neron's growth in the Middle East but also tangible contributions to Saudi Arabia's technological advancement and digital transformation."
Through this entry, Neron aims to strengthen its presence in the Middle East, a strategically high-growth market, and actively pursue its corporate mission of "AI-driven industrial innovation," focusing on smart cities and Industry 4.0.
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