JEDDAH: Saudi entrepreneurs and innovators in the industrial and mining sectors are set to gain support through a new partnership aimed at driving development, creativity, and digital transformation.
The Ministry of Industry and Mineral Resources signed a cooperation agreement with the Saudi Innovation Club to implement joint programs and initiatives as part of efforts to empower national talent in the two sectors, the ministry said in a statement on Aug. 21.
The agreement, signed under the patronage of Assistant Minister for Planning and Development Abdullah Al-Ahmari, aims to foster new developments and create opportunities for pioneers. It was finalized during a ministry meeting under the ‘Innovative Industrial and Mining Products Program’ connecting inventors with service providers, incubators, and accelerators.
This initiative aligns with the ministry’s wider strategy to encourage advancement in industrial and mining activities, boost global competitiveness, and strengthen their role in diversifying the Kingdom’s economy.
It builds upon the Innovative Industrial and Mining Products Program, first unveiled in December, which focuses on accelerating sectoral progress and driving digital evolution within these industries.
“The agreement sets a joint framework for the two parties to organize activities and initiatives that foster a culture of innovation and showcase innovators’ success stories,” the statement said.
It added that the accord opens multiple avenues of collaboration, including sharing expertise, arranging business forums, conducting workshops, and launching initiatives to empower entrepreneurs and emerging talents.
The agreement was signed by Mohammed bin Saeed Al-Dughaim, general manager of the ministry’s innovation management department, and Majid bin Mohammed bin Anzan, chairman of the Saudi Innovation Club.
The ministry emphasized that this partnership underscores its commitment to advancing creative practices, raising public awareness, and creating a supportive environment for innovators in line with the Kingdom’s economic transformation goals.
According to the ministry, the Innovative Industrial and Mining Products Program represents “a key step toward fostering innovation in the industrial and mining sectors” and reflects its commitment to developing new solutions that “support the Kingdom’s industrial transformation and stimulate the growth and sustainability of the mining sector.”
Commenting on the program when first announced, Minister of Industry and Mineral Resources Bandar Alkhorayef said the program seeks to “provide an integrated environment that enables innovators to transform their ideas into executable and competitive products locally and internationally.”
He noted that the initiative will drive advancement — a cornerstone of economic growth — and advance digital transformation in the industrial and mining sectors, the minister stated in a post on his X handle at that time.
