KAUST, Saudi Aramco Establish Saudi Arabia Advanced Research Alliance and Technovia

KAUST has partnered with Saudi Aramco and four other Saudi industrial and academic institutions in establishing the Saudi Arabia Advanced Research Alliance (SAARA) and Technovia, a new company that will focus on driving the commercialization and application of novel and innovative research and development activities in the Kingdom.

SAARA will enable Saudi industry and academia to come together to develop the means to translate technology and intellectual property into commercially viable products and applications.

Other than Saudi Aramco and KAUST, SAARA’s partners also include King Abdulaziz City of Science and Technology (KACST); King Fahd University of Petroleum and Minerals (KFUPM); TAQNIA, the technology branch of the Saudi Public Investments Fund; and RTI International, a world-class research institute focused on improving lives through research and technical services.

Technovia will be located at Dhahran’s Techno Valley, where its staff will work with stakeholders to prepare technologies for strong market entry. These technologies will then be positioned competitively for external investment and funding. Technovia will also screen technologies that have high commercial potential, conduct intellectual property assessments, develop and test prototypes, carry out technology demonstrations, research the markets, and ready technologies for successful commercial launches.

In a signing ceremony held on December 3 in Dhahran, Khalid Al-Falih, Saudi Aramco President and CEO, noted “SAARA and Technovia’s focus on the rapid commercialization of innovative technologies will have a multiplier-effect, stimulating innovation, driving growth in new industrial sectors and helping to further diversify the Kingdom’s economy.”

KAUST President Jean-Lou Chameau stated, “Technovia will help accelerate KAUST’s economic and technology development impact on Saudi Arabia’s key national strategic priorities. This collaboration will become a platform for all research universities in the Kingdom and offer Saudi-based and global companies opportunities to impact the knowledge economy within the nation.”

Tristan Walker, KAUST Vice President of Economic and Technology Development, said the initiative “demonstrates KAUST’s commitment to help transform the Saudi economy by supporting the utilization of KAUST technology for the benefit of local and regional industry.”

- By, KAUST News