Riyadh: The Ministry of Environment, Water and Agriculture (MEWA) is inviting innovators and entrepreneurs in technology to apply for the Regulatory Sandbox Program, which allows participants to test innovative products, services, or business models in a secure environment under regulatory supervision, identifying necessary regulatory developments while mitigating risks.
According to Saudi Press Agency, the program offers insights into regulations and compliance requirements, helping participants to align their solutions with approved environmental standards. This increases the likelihood of market success and facilitates smoother market entry through targeted regulatory support. It aims to create a flexible regulatory framework that fosters innovation and encourages partnerships within the sector.
This initiative supports the market entry of innovative solutions by providing technical and regulatory assistance to promising projects, addressing challenges during the implementation and expansion phases.
Targeting technology startups, small and medium-sized enterprises (SMEs), large corporations, and government programs, the program aims to accelerate innovation deployment by addressing regulatory obstacles in vital sectors. It operates within a framework designed to promote innovation and strengthen public-private partnerships.