Aramco has signed an MoU with KAUST, pledging to fund up to $100 million in R&D projects over the next 10 years. The collaboration will focus on areas like energy transition, sustainability, materials transition, upstream technologies, and digital solutions. Specific research areas include liquids-to-chemicals conversion, low-carbon aviation fuels, hydrogen, and carbon capture. Why it matters: This major investment will accelerate innovation in critical areas like sustainable energy and materials science, aligning Saudi Arabia's research priorities with its economic diversification goals.
KAUST, in partnership with MCIT and Hello Tomorrow, has released a report outlining a roadmap for Saudi Arabia to become a global deep tech hub. The report focuses on five pillars: ecosystem, investment, talent, infrastructure, and policy, highlighting the role of R&D in achieving Vision 2030. Deep tech startups in Saudi Arabia raised over $100 million between 2020 and 2022, with a 75% increase in deep tech researchers since 2015. Why it matters: This signals Saudi Arabia's increasing commitment to fostering a local deep tech ecosystem and attracting investment in advanced technologies.
Global Ventures, a UAE-based venture capital firm, has launched a $100 million fund dedicated to investing in early-stage AI startups. The fund, named GV AI, will target companies in the MENA region, North America, and Europe. It aims to support startups developing AI solutions across various sectors. Why it matters: The new fund signals increasing investor confidence and interest in AI innovation within the UAE and surrounding regions.
MBZUAI Professor Fakhri Karray and colleagues from the University of Waterloo are using AI to forecast crop yields, focusing on the impact of extreme temperatures on California strawberry yields. The research uses historical climate and agricultural data to predict yields, addressing issues from 2023 when unusual weather caused a $100 million loss to the strawberry industry. Better predictions could benefit consumers, farmers, and the agricultural industry by improving pricing and supply chain management. Why it matters: This research can improve understanding of agricultural system vulnerabilities amid climate change and extreme weather.