“The new strategy focuses on increasing the likelihood of turning research into economically beneficial innovations. This ambition will be achieved through three major initiatives: the launch of the National Transformation Institute for Applied Research to accelerate technology development and commercialization to support the Kingdom’s economic diversification aspirations; the restructuring of research centers to align with national priorities for research, development, and innovation; and the creation of a $200m fund (SR750 million) to deliver unmet investment in local and international firms specializing in high-tech, which will enhance economic diversification and contribute to the creation of high quality technical jobs.” 

Saudi Arabia launches $200m fund for early investment in high-tech companies [Arab News]