Business wire
Newlab Riyadh will create a platform to accelerate the commercialization of critical technologies that can be applied to key industrial sectors including Mining, Logistics, and Energy.
Newlab Expands to the Kingdom of Saudi Arabia to Catalyze Critical-Tech Ecosystem and Accelerate Startup-Led Economic Growth
For more information, please contact:
Mission North for Newlab
newlab@missionnorth.com
Newlab, a global venture platform for critical technology startups, today announced its expansion into the Kingdom of Saudi Arabia (KSA) through an integrated public-private partnership involving multiple public sector agencies and leading industry partners. The initiative marks a key milestone in Newlab’s mission to accelerate the commercialization of critical technologies by aligning cross-sector partners, infrastructure, capital, and resources in strategic geographies around the world.
Newlab Riyadh will attract leading critical-tech startups to KSA and accelerate commercialization outcomes that will translate into measurable economic impact in the Kingdom and broader region. Newlab Riyadh joins Newlab’s growing network of hubs around the world, including Newlab Brooklyn, Newlab Detroit, and Newlab Montevideo.
Newlab will establish an initial beta space in Riyadh in 2025 to serve as an anchorpoint for the founding startup ecosystem while commencing development of a larger hub which is slated to open in 2026. It will provide essential technical infrastructure for startups and partners to convene and collaborate. The innovation hub will have the signature Newlab features: flexible workstations and private studios, labs, workshops, and event areas designed for large-scale presentations and product launches. Newlab is committed to fostering long-term growth and collaboration in the region, ensuring that vital technologies are effectively scaled to meet global needs.
To catalyze the ecosystem, Newlab will launch sector-focused and challenge-based programs designed to attract leading startups, drive targeted investment activity, and enable structured collaboration between startups and potential end-users in the region. Each program will be anchored by key government and industry stakeholders whose partnership is imperative to driving commercialization outcomes.
The first program, The Mining Innovation Studio, will focus on attracting startups that are developing technology that can be applied to addressing key challenges or opportunities across the mining value chain including:
- Accelerating the exploration and identification of economically viable mineral resources
- Increasing the efficiency, productivity, and regulatory compliance of mineral recovery
- Reducing emissions across the mining value chain
- Efficiently processing and refining strategic and critical minerals from primary and secondary resources
The Mining Innovation Studio is anchored by the National Industrial Development and Logistics Program (NIDLP), The Ministry of Industry and Minerals (MIM), Saudi Geological Survey (SGS), Saudi Arabia Mining Company (Ma'aden), and Saudi Mining Services Company (ESNAD). Future programs will focus on Energy, Logistics, and Advanced Manufacturing.
“Newlab is expanding globally into regions that are uniquely positioned to accelerate the commercialization of critical technologies,” said David Belt, Co-founder and Executive Chair of Newlab. “The economic transformation in KSA represents a generational opportunity to catalyze an ecosystem of startups that can drive technology-led diversification, growth, and scale solutions that can be applied to industrial-scale challenges around the world. Our work will be geared towards helping KSA achieve its 2030 goals and accelerate decarbonization and sustainability. We are extremely excited for the work we can do in-region and feel that it will have an outsized impact on the world at large.”
“The Mining Innovation Studio is a crucial step to fostering innovation and collaboration across startups and key stakeholders in the mining sector, a critical sector and a third pillar of the national industrialization,” said Eng. Suliman Almazroua, NIDLP CEO. “By supporting initiatives like the Mining Innovation Studio, we aim to address key challenges, unlock new opportunities, and contribute to the Kingdom’s ongoing economic diversification and sustainability efforts under the Saudi Vision 2030.”
“We are proud to be a founding member of this transformative partnership alongside the Ministry of Industry and Minerals (MIM), the National Industrial Development and Logistics Program (NIDLP), Saudi Mining Services Company (ESNAD), and the Saudi Geological Survey (SGS). By attracting global startups to develop innovative solutions to critical industry challenges, this initiative will support the Kingdom in becoming a world-leader in mining technology and innovation,” said Bob Wilt, Chief Executive Officer, Ma'aden.
Newlab has appointed Muneef M. AlMuneef to lead Newlab Riyadh and the company’s expansion into the broader region. AlMuneef brings more than 16 years of experience working across strategic roles in the public and private sectors. Most recently, he served as General Director of Renewable Energy Policies at the Ministry of Energy, where he helped lead the development and implementation of policies and strategies to advance KSA’s renewable energy sector.
To learn more about Newlab’s expansion into the Kingdom of Saudi Arabia, visit HERE.
About Newlab
Newlab is a venture platform for critical technology startups transforming core industrial sectors. We help startups commercialize faster by aligning Infrastructure, Commercialization Projects, and Capital in locations with strategic advantages. Newlab operates 3 innovation hubs globally and manages active pilot programming in additional regions. To date, Newlab has partnered with over 50 industry and government leaders and has supported its 400+ member companies in raising over $5.8B from venture capital firms, with over $2.3B of successful exits and a collective valuation of over $20B. Visit www.newlab.com to learn more.
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