Riyadh, KSA: A report by the American "Forbes" magazine revealed a list of ten Saudi companies that are the most innovative and creative in the Kingdom. The report also pointed out that these companies have obtained international patents and made giant leaps in recent years.
According to “Forbes”, the Saudi government, with the support of major telecommunications and industrial companies, has worked over the past decade to develop the country's innovation ecosystem, and these efforts have recently begun to bear fruits.
"Today, Saudi Arabia is among the fastest transforming countries in the world, as it is diversifying its economy and introducing whole new sectors," the report added.
The report noted that the total number of patents obtained by Saudi Aramco from its founding in 1933 until 2010 is about 100 patents, and in 2021 only the company obtained 864 patents from the United States Patent and Trademark Office, thus ranking first in the oil and gas sector globally and entered the list of the top 50 companies and universities that obtained patents this year. In 2022, the company reinforced its efforts in research and innovation, with the number of patents increasing to 963.
“Forbes” said Saudi Arabia jumped 15 ranks on the Global Innovation Index 2022 issued by the World Intellectual Property Organization (WIPO). The Kingdom also ranked second in the world among the G20 countries in terms of digital competitiveness, according to the European Center for Digital Competitiveness.
The Kingdom focused its innovation efforts on sustainability. It announced its commitment to increase the percentage of energy generation from renewable sources to reach 50% by 2030 to bring carbon emissions to net zero by 2060. In the same context, the Saline Water Conversion Corporation (SWCC) entered the Guinness Book of Records by achieving a new record for being the lowest energy-consuming desalination plant in the world, at a rate of 2.27 kilowatt-hour per cubic meter of desalinated water.
His Highness the Crown Prince - may God protect him - had announced the national aspirations and priorities for research, development, and innovation in Saudi Arabia for the next two decades, which are based on four main priorities: human health, environmental sustainability, and basic needs, leadership in energy and industry, and future economies, to enhance the Kingdom's global competitiveness and pioneering, in line with the directives of the Kingdom's Vision 2030 and strengthening its position in the region.
The Research, Development, and Innovation Authority (RDIA), in collaboration with Forbes Middle East, has worked through this report to review the ten most innovative companies in Saudi Arabia in each of the four sectors of the Kingdom's national priorities, with a total of 40 companies.