📍 Jeddah – BETH

The Saudi Ministry of Investment, Jeddah Valley Company — the investment arm of King Abdulaziz University — and the Cambridge Innovation Center (CIC) in the United States have signed a Memorandum of Understanding to strengthen the Kingdom’s innovation and entrepreneurship ecosystem, support the knowledge economy, and attract foreign investment in line with Saudi Vision 2030.

The MoU was signed by Dr. Abdullah Al-Dubikhi, Assistant Minister for Investment Development, Dr. Sattam Lanjawi, CEO of Jeddah Valley Company, and Carrie Allen, General Manager of CIC.

Key Pillars of the MoU

The agreement focuses on:

Enhancing entrepreneurship and innovation to drive the knowledge economy.

Attracting investment and entrepreneurial programs that leverage the local environment.

Supporting foreign investment and developing national intellectual capital.

Providing a supportive environment for innovation through essential services and infrastructure for startups, SMEs, and major companies.

Promoting the region to local and international companies, service providers, and investment funds.

Jointly delivering consulting and research services to beneficiaries.

Knowledge Transfer and Economic Competitiveness

The MoU enables the transfer of global expertise and technologies to Saudi Arabia. CIC will connect Saudi startups and entrepreneurs with an international network of investors and specialists, helping to build a comprehensive ecosystem that transforms local innovations and university research into successful commercial ventures.

This cooperation strengthens Saudi Arabia’s economic competitiveness, supports high-value job localization, and contributes to broader economic diversification goals.

About CIC

The Cambridge Innovation Center (CIC) is a leading global organization supporting entrepreneurs and startups by providing:

Specialized workspaces,

Advisory and consulting services,

And access to extensive networks of investors and experts in technology and entrepreneurship.