Alwaleed Philanthropies and Saudi Arabia’s Research, Development and Innovation Authority have signed a strategic partnership to support researchers, innovators and technology-focused solutions, according to an announcement.
The partnership includes funding and monitoring for the Open Network Technology Challenge, which selected four startups offering technology solutions described as ready for implementation. The two organisations will support the winning companies as they develop and launch their products, while tracking the initiative’s impact.
Alwaleed Philanthropies will help enable the initiative, monitor startup performance and promote research, development and innovation locally. The authority will coordinate with relevant stakeholders, review periodic reports and measure the initiative’s outcomes.
A joint team will oversee the partnership, support product launches and explore additional programmes in research and innovation. The agreement builds on an earlier initiative that enabled 96 female students to pursue postgraduate studies at leading universities among the world’s top 30, including programmes in artificial intelligence and renewable energy.
Source: Saudi Press Agency
