Industry Ministry surveys challenges for innovation firms

Based on the objectives of the Ministry of Industry and Mineral Resources to enable electronic participation and enhance research, development, and innovation in the industrial sector, the Ministry has prepared a survey study on the challenges facing companies in the field of innovation during the period from December 1, 2023, to February 1, 2024. The study aimed to identify the main challenges and obstacles related to innovation, research, and development faced by factories and companies, as well as to assess the extent of benefit from government programs, including grants, financial support, government training programs, and advisory services that support innovation-related activities.

The study included monitoring examples of successful collaboration between companies, universities, or investors, which led to significant innovations in the industrial and mining sectors, such as:

GDC Middle East securing a direct foreign military sales contract with the U.S. government, becoming the first Saudi company to achieve this.

Advanced Medical Company II collaborating with King Saud University to develop four innovations in medical devices.

Qudra Industrial Company partnering with Steel Core for cooperation in barrel manufacturing.

Chemical Products Factory signing an agreement with the Government Spending Efficiency and Projects Authority to supply cleaning consumables for government projects.

The study also gathered opinions and feedback regarding the support needed from the Ministry of Industry and Mineral Resources to address challenges and obstacles related to innovation, research and development, and investment in innovations. This information will be used to support innovative products and evaluate the current challenges and barriers in order to design a program aimed at supporting and enabling innovative industrial and mining products, which is scheduled to be launched in the first quarter of 2025, God willing.