Saudi Arabia Partners with Newlab in Energy, Logistics
As part of the agreement, Newlab will establish its headquarters in KSA.
The Saudi Arabian government has officially sealed a strategic agreement with the US-based hardware-focused shared workspace, research lab, and incubator Newlab to bolster its investments in the energy, mining, industrial, and logistics sectors.[1]
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The deal, signed at the International Future Minerals Forum 2024 in Riyadh, is set to bring in new investments and provide crucial support for entrepreneurs within the Kingdom.
As part of the agreement, Newlab will establish its headquarters in the Kingdom, signaling a commitment to fostering innovation and development within Saudi Arabia.
Newlab aids startups in swiftly transitioning from concept to impact.
The company's mission extends beyond individual enterprises, as it actively collaborates with industry leaders, governments, and investors to expedite progress in addressing critical challenges across various fields.
Newlab has also entered into agreements with key entities, including the Ministry of Industry and Mineral Resources, Ministry of Investment, Saudi Aramco, Saudi Arabian Mining Company, King Abdulaziz City for Science and Technology, Research, Development and Innovation Authority, and the National Technology Development Program.