Frederick, Maryland October 2024 \u2014 ScienceWerx has just marked a global milestone with the successful conclusion of launching MENA Chapter Headquarters with a $100 Million EverGreen Pre-Seed Fund in Riyadh, Saudi Arabia. The EverGreen fund will transform the region\u2019s research capabilities into market successes, targeting high-growth sectors such as AI, healthtech, and deep-tech\u2014all aligned with Saudi Arabia\u2019s strategic ambitions.<\/p>\n\n\n\n
In KSA and the GCC region, the opportunities in AI, biotech, and deep-tech are substantial but underutilized. Despite Saudi Arabia\u2019s $5.1 billion annual R&D investment, a mere 5-7% ROI points to a gap between potential and performance. Dr. Khalid Saqr, ScienceWerx Board Advisor and MENA Chapter chairperson emphasizes, \u201cSaudi Arabia\u2019s innovation ecosystem holds immense value, yet much of it remains untapped in labs. The EverGreen fund will provide the support and infrastructure to propel these innovations to market.\u201d<\/p>\n\n\n\n
EverGreen\u2019s value goes beyond capital infusion. Patrick Haley, ScienceWerx (USA) co-founder and chairman, notes, \u201cThe fund creates an ecosystem, bridging MENA\u2019s $43 billion IP gap through partnerships, tech transfer offices, and incubation resources that speed up ambitious projects.\u201d Bassem Kadry, co-founder and Chief Innovation Officer, adds, \u201cSaudi Arabia has the resources to lead MENA\u2019s knowledge economy, but critical infrastructure is needed. EverGreen brings that missing piece.\u201d Moreover, Lewa Abu Khait, Regional Partner in KSA, describes the fund as a unique leap forward. \u201cIt\u2019s a catalyst for Saudi innovators, transforming local R&D into globally competitive businesses.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Frederick, Maryland October 2024 \u2014 ScienceWerx has just marked a global milestone with the successful conclusion of launching MENA Chapter Headquarters with a $100 Million EverGreen Pre-Seed Fund in Riyadh, Saudi Arabia. The EverGreen fund will transform the region\u2019s research capabilities into market successes, targeting high-growth sectors such as AI, healthtech, and deep-tech\u2014all aligned with […]<\/p>\n","protected":false},"author":2,"featured_media":35803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1772],"tags":[6185],"class_list":["post-35808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups","tag-sciencewerx"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/35808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=35808"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/35808\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/35803"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=35808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=35808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=35808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}