Saudi Arabia has also set up tech incubators and established venture capital funds with headquarters in Riyadh and offices in Menlo Park, California. Among them is Riyadh Taqnia Capital, which has committed to investing over $100 million in local tech firms.
http://middle-east.timesofnews.com/oil-bust-winner-saudi-arabias-tech-scene.html
http://middle-east.timesofnews.com/oil-bust-winner-saudi-arabias-tech-scene.html