Riyadh: King Abdulaziz City for Science and Technology (KACST), in partnership with the Research, Development and Innovation Authority, has introduced a program aimed at accelerating the journey of innovations from research to the marketplace. The initiative seeks to enable researchers and innovators to convert their ideas into market-ready products by exploring customer needs, understanding market opportunities, and acquiring necessary scientific skills for commercialization.
According to Saudi Press Agency, the program is a strategic part of KACST’s mission to bolster the national innovation network and develop scalable business models. It also aims to enhance the skills of researchers and innovators in market analysis and product design, thereby increasing the Kingdom’s competitiveness in research, development, and innovation. This effort aligns with the objectives of Vision 2030 and the national aspirations for a robust innovation ecosystem.
The program unfolds in two phases. Initially, a training bootcamp is conducted, featuring interactive sessions, workshops, and group activities to familiarize participants with the process of taking innovations from the lab to the market. The subsequent phase provides intensive training, equipping teams with tools to understand customer needs and design business models. Participants also receive specialized mentorship to help transition their research outputs into marketable products and services. The program concludes with participants presenting their innovative solutions to a specialized judging panel, followed by the announcement of winners.
The initiative is anticipated to create high-quality job opportunities in innovation and technology transfer, enhance the knowledge-based economy’s contribution to the national GDP, reinforce the Kingdom’s status as a regional innovation hub, and support the establishment of startups in deep technology fields.