Saudi Arabia attracts 25 global startups in research and innovation
RIYADH — Saudi Arabia has attracted 25 international startups specializing in research, development, and innovation (RDI) as part of its Global Startup Attraction Program, a joint initiative by the Ministry of Investment and the Research, Development, and Innovation Authority.
The companies, drawn from strategic sectors, include firms in future health, energy and industry, education and human capital, and environmental sustainability.
The majority — 13 firms — focus on future health, while six are in sustainability and basic needs, and three each in education and energy.
The program is designed to increase private sector participation in RDI, support talent development, and create high-skilled jobs.
The targeted outcomes by 2030 include generating over SR25 billion in total market value and creating more than 7,000 jobs, with three of the companies expected to reach unicorn status.
The startups represent 12 countries, including the United States, Germany, France, the United Kingdom, Canada, Switzerland, Australia, and the UAE.
Participating firms include Stargate Hydrogen, SecureOneLabs, Aitonomi, NovaLunas, and Deepdrill AG, among others.
This initiative supports broader national efforts to expand the Kingdom's innovation capacity, strengthen private sector R&D, and contribute to economic diversification, according to the authority.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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