The National Industrial Development and Logistics Program (NIDLP) has signed an agreement with Newlab, a leading company in technology, innovation, and the development of sustainable solutions related to the energy, mining, industrial, and logistics sectors.
The agreement was signed during the International Future Minerals Forum 2024 in Riyadh. The agreement involves the establishment of a regional headquarters in the Kingdom of Saudi Arabia.
This agreement is part of NIDLP’s efforts to enhance its international partnerships and cooperative relationships to attract investments and support entrepreneurship.
According to the statement, “This comes as Newlab is actively assisting startups in transitioning from concept to impact more rapidly, while also mobilizing industry leaders, governments, and investors to accelerate tangible progress against the most pressing challenges in various fields.”
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) signed agreements with Newlab.
These agreements are part of a comprehensive initiative to stimulate an integrated technological innovation ecosystem in Saudi Arabia and the Middle East, accelerating climate-driven economic diversification.
They intend to develop a new regional platform for deep technology projects, integrating innovative capabilities, operational excellence, and infrastructure assets to advance the goals and outcomes of the regional platform.
Further, they focus on developing challenge-based programs in various sectors to attract leading global startups to the region and stimulate high-impact pilot projects that accelerate the development, expansion, and adoption of climate solutions.
