The Social Development Bank concludes the activities of the "Gamethon" challenge and announces the winners

With cash prizes of 100 thousand riyals

The Social Development Bank announced the conclusion of the activities of the "Gamethon" challenge, which was held at Riyadh Boulevard for 72 hours, and the announcement of the names of the winners from the participating teams within the various tracks. In the presence of a number of (prominent personalities).

The number of teams participating in the challenge reached 30 who competed to create electronic games aimed at promoting the concepts of savings and financial awareness. The value of cash prizes distributed to the winners amounted to 100 thousand Saudi riyals, where the Taqia team was crowned with the victory in first place, the second place went to the studio team Rahibeen, and the Raset team for language technologies came in third place and the Evolve team ranked fourth. The winning projects were distinguished by their innovation in outstanding financial solutions, and the quality of ideas that reflect their commitment to the concepts of savings and financial planning, in line with the bank's objectives and Islamic Sharia regulations, and their applicability.

The winning teams will have the opportunity to incubate under the "Avenue 30" program for a period of three months, which will provide them with an integrated workplace, in addition to mentorship sessions with a group of entrepreneurial consultants through the Delni Center. It will also be linked to potential investors to support the transformation of its ideas into successful business ventures.

Speaking at the closing ceremony, Eng. Sultan bin Abdulaziz Al Humaidi, CEO of the Social Development Bank, said: "Today, we are celebrating the winners of the 'Values Thun' challenge and reaffirming our deep commitment to supporting the National Strategy for Games and Esports. We are committed to providing all the enabling tools for innovators, developers and programmers, through entrepreneurial incubation programs, specialized workshops, as well as enabling them to transform their ideas into pioneering projects by linking with the appropriate investment channels. Values Thon represents a qualitative step in the Kingdom's endeavors to become a regional and global center in this vital sector, and in support of the prospects of the Saudi digital economy."

Al Humaidi added: "Our efforts go beyond investing in electronic games, to provide financial awareness and savings in an entertaining and enjoyable framework that encourages competition and knowledge, making them more acceptable and influential among the younger generations. The Thon Values challenge is an opportunity to explore and channel local digital skills towards innovation and productivity."

The Thon Values challenge comes in line with the Crown Prince's National Strategy for Games and Esports launched in 2022, which aims to make the Kingdom a global hub and a magnet for talent and creative ideas. Through this strategy, the Social Development Bank seeks to achieve financial sustainability for the industry, contribute to the diversification of the national economy, create new job opportunities, and enhance the Kingdom's position as a global destination in this field.

In this context, the Social Development Bank recently announced the signing of two agreements to establish two venture capital funds in the gaming and esports sector, in cooperation with the National Development Fund, with a total value of SAR 450 million. These investments aim to establish a business accelerator to promote growth and develop local talent, in addition to stimulating the private sector to invest and attract international companies to the Kingdom, thus contributing to the sustainability and growth of this promising sector.