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 to stimulate and generate ideas between the two parties. The aim is to transform ideas into valuable projects to develop and improve the services and processes to achieve NWC's strategic objectives.
The agreement was signed onTuesday, November 26, 2024, in Jeddah, on the sidelines of the third edition of the Water Sector Innovation Conference. The Executive Vice President for Governance and Regulatory Affairs, Engineer Raed bin Hammad Al-Rashed, represented the National Water Company. And the Saudi Innovation Center for Water Technologies at the Saudi Water Authority was represented by Engineer Tariq bin Ghassan Al-Ghaffari, Vice President for Research and Promising Technologies for Water.
The two sides explained that the agreement aims to incubate ideas, accelerate business, study and evaluate ideas, provide training and consulting services, conduct studies and research in the field of water, exchange experiences in areas related to the activities of both parties. The agreement also supports the Saudi Innovation Center for Innovative Projects Technologies proposed by the National Water Company, provides incubation services for innovative projects, builds prototypes, and contributes to the development of the innovative environment in the water sector.
The agreement provides for the formation of a joint working team that including specialists from both parties to explore innovative opportunities, and the use of representatives of other entities and specialized expertise. The agreement also stated promoting and marketing new technological innovations in the water sector through specially designed marketing strategies, which will help companies to enter the market quickly and effectively.
