Saudi Arabia Advances 15 Ranks on International Innovation Index

Saudi Arabia has risen 15 locations within the World Mental Property Group (WIPO) International Innovation Index 2022, reflecting the extent of improvement in analysis, improvement, and innovation within the Kingdom.

In June, Saudi Crown Prince Mohammed bin Salman revealed the Nationwide Aspirations and Priorities for Analysis, Improvement, and Innovation (RDI) in Saudi Arabia for the following 20 years based mostly on 4 key priorities; human well being and wellness, sustainable atmosphere and provide of important wants, vitality and industrial management, and economies of the longer term.

The plan goals to reinforce the Kingdom’s international competitiveness and entrepreneurship, align with the plans of the Saudi Imaginative and prescient 2030, and enhance its standing within the area.

Forbes Journal reported that the Kingdom of Saudi Arabia is without doubt one of the fastest-transforming nations on this planet, working to diversify its economies by getting into new sectors which have contributed to the event of the nationwide innovation system over the previous decade.

It additionally cited Saudi Aramco in its report, which included the contributions of ten Saudi corporations in innovation fields. The corporate obtained 864 patents from the US Patent and Trademark Workplace in 2021 alone, bringing it to first place within the oil and fuel sector globally and getting into the checklist of the highest 50 corporations and universities that obtained patents this yr. In 2022, the corporate strengthened its efforts in analysis and innovation, with the variety of patents rising to 963.

Digital infrastructure within the Kingdom ranked second among the many G20 nations, in keeping with the Digital Competitiveness Report 2021 issued by the European Middle for Digital Competitiveness, state information company SPA reported.

In 2017, just one Saudi firm entered the “Forbes” checklist of essentially the most funded startups within the Center East. By 2020, that quantity elevated to 2, and this yr the quantity rose to 5 Saudi corporations inside the prime ten positions within the checklist.

The Kingdom of Saudi Arabia has centered its innovation efforts on sustainability, saying its dedication to rising the share of vitality technology from renewable sources to succeed in 50% by 2030, in preparation for reaching zero neutrality by 2060. In the identical context, the Saline Water Conversion Company (SWCC) entered the Guinness World Information, reaching a brand new file because the desalination plant with the least vitality consumption on this planet, at a charge of two.27 kilowatt-hours per cubic meter of desalinated water.

The Analysis, Improvement, and Innovation Authority (RDIA), in collaboration with Forbes Center East, reviewed the ten most revolutionary corporations in every of the 4 sectors of the nationwide priorities within the Kingdom, totaling 40 corporations. The checklist consists of Aramco, SABIC, NEOM, STC, Ma’aden, Almarai, Al Rajhi Financial institution, Al-Habib Medical Group, ACWA Energy, and Saudi Nationwide Financial institution.

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