The initiative is part of a strategy announced for the King Abdullah University of Science and Technology
It aims to transform research into economically productive innovations by focusing on national priorities
RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman on Sunday launched a SR750 million ($200 million) fund for early investment in local and international high-tech companies, the Saudi Press Agency reported.
The initiative is part of a strategy announced for the King Abdullah University of Science and Technology. It aims to transform research into economically productive innovations by focusing on the national priorities for research, development, and innovation.
The key areas include health and wellness, sustainable environment and essential needs, energy and industrial leadership, and economies of the future.
HIGHLIGHTS
The new strategy focuses on increasing the likelihood of turning research into economically beneficial innovations.
National Transformation Institute for Applied Research has also been launched to accelerate technology development.
The strategy aims to restructure research centers to align with national priorities for research, development, and innovation.
Crown Prince Mohammed bin Salman said: “Since the foundation of KAUST, it has distinguished itself with its research, innovations, and faculty, to become one of the leading research universities in the world.
“The new strategy builds on KAUST’s scientific and academic achievements and...
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