RIYADH: The LEAP23 conference in Riyadh launched the Rocket Fuel competition and Alibaba Cloud hackathon, with more than SR6 million ($1.6 million) in cash prizes on offer.

Being held at the Front Expo Center until Thursday, both events aim to support startups and projects in addressing technical challenges through innovative solutions.

Supported by the National Technology Development Program and the Misk Foundation, the Rocket Fuel competition will see 90 global startups competing for a chance to be among 15 presented to a jury.

Divided into six categories, the competition offers cash prizes amounting to SR4 million, including the LEAP Award, which offers $250,000 to the strongest and most prominent company.

The Rising Star Award, worth $150,000, will go to the startup with the strongest start.

The Aviatrix Award and the Technology for Humanity Award — worth $150,000 each — will go to the best women-led creative startup company and the startup that best serves humanity, respectively.

Two “Towards new horizons and artificial intelligence” awards, with a value of $300,000, will also be given to winners of the best startup working in the field of metaverse and Web3, as well as the best emerging company that provides artificial intelligence solutions.

The Alibaba Cloud hackathon, sponsored by the Saudi Telecom Company, will enhance cloud technology in the Kingdom through several challenges and SR2 million in prize money.

The event targets amateurs as well as local and international professionals in sectors including education, health technology, government, logistics services, e-commerce and artificial intelligence.