In a strategic move aimed at bolstering the knowledge economy and activating the role of universities in national development, Jeddah Valley , the investment arm of King Abdulaziz University, announced the official launch of the “Innovation and Entrepreneurship Zone .” This project represents a vital, integrated platform designed to support university students, innovators, entrepreneurs, and startups, with the goal of transforming their creative ideas and patents into successful and sustainable commercial ventures.
A strategic context that aligns with the Kingdom's Vision 2030
The launch of this zone comes at a crucial time as Saudi Arabia seeks to diversify its economy and reduce its dependence on oil, in line with the goals of Vision 2030. Innovation ecosystems play a pivotal role in achieving this vision, working to build a knowledge-based and technology-driven economy. The Jeddah Valley initiative is a practical embodiment of this approach, creating a stimulating environment that bridges the gap between academic research and market demands, and contributes to building a new generation of globally competitive companies.
Ambitious goals and an integrated environment for innovators
Professor Abdulrahman Al-Maliki, Director of Shared Services at Jeddah Valley, explained that the project aims to build an integrated ecosystem that supports innovators from the idea stage to product launch. He emphasized that the zone will provide them with all the necessary tools and resources, including office space, workshops, mentorship programs, and facilitated access to a broad network of investors and partners in both the public and private sectors.
An initial budget of approximately 30 million riyals , with plans to increase it in the future to meet expansion needs. This budget will be dedicated to supporting the region's main objectives, which include:
- Embracing innovations and promising ideas.
- Supporting the registration and marketing of patents.
- Empowering emerging technology companies and providing them with initial funding.
- Strengthening strategic partnerships with industrial and investment entities.
Expected impact on the local and national economy
The Innovation and Entrepreneurship Zone is expected to have a tangible positive impact at both the local and national levels. Locally, it will contribute to strengthening Jeddah's position as a leading innovation hub in the region, attracting talent and investment, and creating quality job opportunities for young people. Nationally, the success of projects graduating from the zone will bolster the GDP and enhance the Kingdom's competitiveness in vital sectors such as biotechnology, artificial intelligence, and renewable energy. The project also reinforces King Abdulaziz University's role as a key driver of economic and social development, not merely as an educational institution.
Looking ahead: Towards an innovation-driven economy
The Innovation and Entrepreneurship Zone in Jeddah Valley represents a new beginning in establishing a culture of entrepreneurship within and beyond the academic community. The future plan is to transform scientific research and university patents into commercially viable products with high economic value, directly contributing to building a sustainable knowledge-based economy and enhancing the Kingdom's position as a regional and global leader in innovation and technology.
