Riyadh, January 11, 2024, During the 2024 Future Minerals Forum in Riyadh, the National Industrial Development and Logistics Program (NIDLP) solidified its commitment to fostering innovation by signing a strategic agreement with Newlab, a prominent company specializing in technology, innovation, and sustainable solutions within the energy, mining, industrial, and logistics sectors.
The agreement outlines the establishment of a regional headquarters, "Nwelapksa," in the Kingdom of Saudi Arabia, reflecting NIDLP's dedication to strengthening international partnerships and collaborative ties to attract investments and support entrepreneurship.
Newlab, known for its role in rapidly transitioning startups from concept to impact, brings its expertise to Saudi Arabia, mobilizing industry leaders, governments, and investors to address pressing challenges in various fields. The collaboration aligns with Saudi Arabia's broader initiative to stimulate an integrated technological innovation ecosystem in the Middle East, fostering economic diversification driven by climate considerations.
In a concerted effort, several key entities, including the Ministry of Industry and Mineral Resources, the Ministry of Investment, Saudi Aramco, the Saudi Arabian Mining Company (Ma’aden), the King Abdulaziz City for Science and Technology (KACST), the Research, Development and Innovation Authority (RDIA), and the National Technology Development Program (NTDP), also inked agreements with Newlab.
These agreements represent a comprehensive approach to developing a regional platform for deep technology projects. The initiative aims to integrate innovative capabilities, operational excellence, and infrastructure assets to advance regional goals and outcomes. Particular emphasis is placed on creating challenge-based programs across various sectors to attract leading global startups to the region. The goal is to stimulate high-impact pilot projects that expedite the development, expansion, and adoption of climate solutions, contributing to the overall progress of climate-driven economic diversification in Saudi Arabia and the Middle East.
