Saudi Arabia High Tech Investment $200 million Fund Launched

Crown Prince Mohammed bin Salman unveiled a new strategy for King Abdullah University of Science & Technology (KAUST), where he chairs the Board of Trustees. The new strategy aims to transform science and research into economically profitable innovations through a focus on national priorities, including health, environmental sustainability, renewable energy, and future economies. The strategy encompasses three major initiatives:
•    Launch of the National Transformation Institute for Applied Research (NTI) to accelerate technology development and commercialization;
•    Restructuring of research centers to align with national priorities for research, development, and innovation; and
•    Creation of a $200 million fund to invest in local and international firms specializing in advanced technology.

A key element of this new strategy is to strengthen international partnerships and develop cooperation frameworks with leading academic institutions and technology pioneers in the world, presenting an opportunity for U.S. institutions to collaborate in this sphere.

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