The National Water Company (NWC) and the Saudi Innovation Center for Water Technologies (SICWT), under the Saudi Water Authority (SWA), have signed a strategic agreement to establish an incubator aimed at fostering innovation and transforming ideas into impactful projects. The collaboration seeks to enhance services and processes to align with NWC's strategic objectives and advance the water sector in Saudi Arabia.
The agreement was signed on Tuesday, November 26, 2024, in Jeddah during the third edition of the Water Sector Innovation Conference. Representing the National Water Company was Engineer Raed bin Hammad Al-Rashed, Executive Vice President for Governance and Regulatory Affairs. Engineer Tariq bin Ghassan Al-Ghaffari, Vice President for Research and Promising Technologies for Water, represented SICWT.
A key component of the agreement is the formation of a joint working team, including experts from both organizations, to explore innovative opportunities and involve specialized representatives from other entities as needed. This team will focus on incubating ideas, accelerating business initiatives, and providing essential support, such as training, consulting services, and research.
The agreement also prioritizes the exchange of expertise between the two entities in areas related to their activities. SICWT will provide incubation services for innovative projects proposed by NWC, facilitate the development of prototypes, and contribute to creating a thriving innovative environment in the water sector.
Additionally, the partnership includes marketing and promoting new technological innovations in the water industry. Tailored marketing strategies will enable companies to enter the market efficiently, driving rapid adoption and success.
Both parties emphasized the significance of this collaboration, highlighting its role in supporting innovative projects, conducting studies, and advancing research in the field of water technologies. This initiative is expected to play a crucial role in achieving NWC's strategic goals and elevating the innovation landscape in Saudi Arabia’s water sector.
