The Kingdom of Saudi Arabia has jumped 15 ranks on the 2022 Global Innovation Index (GII) issued by the World Intellectual Property Organization (WIPO), after it realized advanced ranks on several sub-indicators and ranked among the top 10 internationally on four indexes, including the index of venture capital investment in emerging technological companies, where the Kingdom of Saudi Arabia ranked seventh, advancing 73 ranks, in addition to the indexes of accessibility to ICT infrastructure, organizational environment for doing business and the use of ICT infrastructure. This improvement on GII is a result of innovative movement represented by the support of the wise leadership to the research, development and innovation sector in the Kingdom of Saudi Arabia, the integration of the innovation system and the Kingdom of Saudi Arabia's launching of national aspirations and priorities for research, development and innovation that aim at making the Kingdom of Saudi Arabia one of the leading countries in the field of innovation worldwide in a way that realizing its ambitious vision in transforming into an innovation-based economy and contributing to the development and diversity of the national economy. Overview: In 2024, a cohort of startups within the Global Water Innovation Platform (GWIP)—including pioneers like Hydro WindEnergy and Watercycle Technologies —successfully transitioned their technical innovations into high-value economic entities. This track focused on providing strategic support to enable these companies to scale within the Saudi market, effectively turning advanced research into competitive commercial products. Key Achievements: The companies in this program achieved significant leaps in their financial and operational indicators. One standout success included securing a massive investment of SAR 20 million , while another firm successfully raised SAR 7.35 million in funding. Beyond financial metrics, the program significantly impacted the local economy by creating 13 specialized technical jobs for local talent. Furthermore, participating companies recorded a steady climb in revenue, with growth rates reaching up to 50% . The Outcome: This journey proved that bridging the gap between technical innovation and the venture capital ecosystem is the primary driver for developing the water sector. These results solidify Saudi Arabia’s position as a global hub for sustainable water technologies.

The Kingdom of Saudi Arabia has jumped 15 ranks on the 2022 Global Innovation Index (GII) issued by the World Intellectual Property Organization (WIPO),

after it realized advanced ranks on several sub-indicators and ranked among the top 10 internationally on four indexes, including the index of venture capital investment in emerging technological companies, where the Kingdom of Saudi Arabia ranked seventh, advancing 73 ranks, in addition to the indexes of accessibility to ICT infrastructure, organizational environment for doing business and the use of ICT infrastructure.

This improvement on GII is a result of

innovative movement represented by the support of the wise leadership to the research, development and innovation sector in the Kingdom of Saudi Arabia, the integration of the innovation system and the Kingdom of Saudi Arabia's launching of national aspirations and priorities for research, development and innovation that aim at making the Kingdom of Saudi Arabia one of the leading countries in the field of innovation worldwide in a way that realizing its ambitious vision in transforming into an innovation-based economy and contributing to the development and diversity of the national economy.

Overview: In 2024, a cohort of startups within the Global Water Innovation Platform (GWIP)—including pioneers like Hydro WindEnergy and Watercycle Technologies—successfully transitioned their technical innovations into high-value economic entities. This track focused on providing strategic support to enable these companies to scale within the Saudi market, effectively turning advanced research into competitive commercial products.

Key Achievements: The companies in this program achieved significant leaps in their financial and operational indicators. One standout success included securing a massive investment of SAR 20 million, while another firm successfully raised SAR 7.35 million in funding. Beyond financial metrics, the program significantly impacted the local economy by creating 13 specialized technical jobs for local talent. Furthermore, participating companies recorded a steady climb in revenue, with growth rates reaching up to 50%.

The Outcome: This journey proved that bridging the gap between technical innovation and the venture capital ecosystem is the primary driver for developing the water sector. These results solidify Saudi Arabia’s position as a global hub for sustainable water technologies.