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¶¶Òõ¶ÌÊÓƵn General Investment Authority (SAGIA) has announced a new licensing program tailored for innovators, both local and overseas talented students and researchers who are interested in implementing its ideas or patent rights for business startups across the Kingdom .
SAGIA’s new innovation-based license is a new license class that has been implemented in cooperation with King Abdullah University for Sciences & Technology (KAUST). SAGIA announced expansion of the implementation to involve all scientific and educational institutes in the Kingdom.
All eligible individuals interested in applying for innovative licenses are invited to submit their applications along with detailed documents that describe the idea, benefits, contribution to the local economy, job creation for Saudis, endorsement letters including concept validation from the educational or institute incubator, followed by progress reports for major project stages.
Innovators not being incubated by any educational or scientific institutions have to register their patents at KACST. This announcement is applicable to joint venture investors, whether local or overseas, which need to be licensed by SAGIA.
It is available for Saudi innovators who can receive privileges and services, including government services, offered by SAGIA’s business centers in Madinah, Riyadh, Jeddah, Dammam and Jazan.
Local innovators are invited to visit SAGIA website to complete registration and agree on terms and conditions. Applications and documents could be uploaded and submitted through SAGIA online services portal. Official response will be communicated to applicants within five working days.