Saudi Arabia to Establish Accelerator Program to Boost Innovation

Saudi Arabia will establish a new accelerator program to help ignite innovation in the Kingdom. Saudi and the World Economic Forum (WEF) signed on Tuesday a Letter of Intent (LoI) at WEF’s 2023 Annual Meeting to initiate the program. 

The Kingdom’s role as a pioneering partner of the WEF’s Global Collaboration Village will leverage the metaverse to serve the global community.

Saudi intends to use the virtual village to open opportunities, investment, and collaboration between national stakeholders and international entities, a press release said. The online facility will be used to interact with people, organize events and promote knowledge sharing, it added.

Aramco, one of Saudi’s leading private sector entities, is the first company to build a house in the Global Collaboration Village.

Green technologies investment, as well as female and youth empowerment as a vital enabler in effective climate action, were among the other topics covered in the meeting.