Savvy has entered into a Memorandum of Understanding with Neom to assist gaming startups in transitioning from "incubation to acceleration"

Neom and Savvy Games Group have entered into a fresh agreement to enhance support for Saudi gaming startups transitioning from early-stage development to more advanced growth stages.

The collaboration ensures that game studios emerging from the Nine66 Incubation Program are provided with resources to transition into the Level Up Accelerator managed by Neom.

Both Neom and Savvy Games Group are subsidiaries of the Saudi Arabia Public Investment Fund (PIF).

Amr Sager, chief of staff at Savvy Games Group, noted, "As the games industry expands swiftly in Saudi Arabia, we see a growing array of initiatives geared towards aiding up-and-coming studios and entrepreneurs in establishing, operating, and scaling their businesses."

Sager emphasized the importance of aligning these efforts to create a more seamless path for startups in need of support. "Our partnership with Neom is really focused on this goal, empowering Saudi studios and game developers," he added.

Toby Evan-Jones, Neom's head of gaming and executive director, commented on their commitment to enhancing Saudi Arabia’s gaming landscape, in line with the National Gaming and Esports Strategy. "From engaging high school students to investing in nascent gaming studios through the Level Up accelerator, we are thrilled to see the industry take root," Evan-Jones stated.

The gaming partnership is seen as beneficial for startups in the sector, with both companies eager about the synergies that will form.

You can learn more about Savvy Games Group, founded in 2021, through this GamesIndustry.biz article. Meanwhile, Neom was established in 2019 to support the concept of a new economic region. However, a recent FT report pointed out that this initiative is now being "significantly downscaled".

Recently reported financial movements include the transfer of $12 billion in game shares to Savvy Games Group by PIF.

A consortium involving PIF is also in advanced talks to acquire Electronic Arts for $55 billion. Should the deal conclude, PIF is expected to own 93.4% of EA.

Given its interests in Silver Lake Capital and Affinity Partners, PIF is poised to control nearly the entire company.