KSA to ignite innovation in global metaverse village


January 18, 2023 | By RetailME Bureau

A high-level delegation from Saudi Arabia participated in a multilateral meeting with the World Economic Forum’s (WEF) leadership at the ongoing WEF 2023 deliberating on various ways in which KSA can ignite innovation in the global metaverse village.

During the meeting Abdullah bin Amer Alswaha, Chairman of the Board of King Abdulaziz City for Science and Technology (KACST) and Chairman of the Board of The Research, Development and Innovation Authority (RDIA) and Børge Brende, President of WEF signed a Letter of Intent (LoI) to establish a new accelerator programme to help ignite innovation in Saudi Arabia.

Under the LoI KACST will work alongside WEF to connect experts and knowledge partners from the public and private sector to identify and unlock new promising markets as part of the ongoing work to transform Saudi’s economy.

During the meeting the delegates highlighted the Kingdom’s role as a Pioneering Partner in the Forum’s Global Collaboration Village, which will leverage the metaverse to serve the global community. Saudi Arabia intends to build a house in the village opening a door to opportunities, investments and collaboration between various national stakeholders and international entities. It will be used as a tool for attending events, interacting with people, sharing knowledge and making announcements.

The meeting also covered investment in green technologies and female and youth empowerment as vital enablers in effective climate action.

 

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