Saudi signs deal for new accelerator programme at WEF
The new programme will let state-backed KACST work with the World Economic Forum to boost innovation in the country.
Saudi Arabia has signed a deal with the World Economic Forum (WEF) to set up a new accelerator programme. The state-backed King Abdulaziz City Science and Technology (KACST) would set up the programme.
Under the deal, the Kingdom of Saudi Arabia will collaborate with the WEF to boost innovation in the country. Experts and knowledge partners in the public and private sectors will be consulted to identify and unlock potential markets, as reported by Al Arabiya.
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The programme will involve opportunities for collaboration, investment, knowledge sharing, and interaction among national and international entities through events and activities.
The letter of intent was signed in the presence of delegates such as Prince Faisal Bin Farhan, KSA's Foreign Minister; Princess Reema Bint Bandar, the Saudi Ambassador to the US; Abdullah Al-Swaha, Minister of Communications and Information Technology; Klaus Schwab, Founder and executive chairman of WEF, and Børge Brende, President of WEF, among others.
The meeting also covered Saudi Arabia's investment in female and youth empowerment to enable effective climate action.
The Saudi delegation also addressed the future and the untapped opportunities of the mining industry in the Kingdom, especially when there is an increase in demand for minerals and the importance of leveraging the Fourth Industrial Revolution and green technologies.
Edited by Megha Reddy
