The first meeting of the Riyadh Techno Valley (RTV) Corporate Committee was held on Wednesday at King Saud University on Wednesday, June 16, in order to discuss the establishment of an investment company at RTV.
The meeting was headed by King Saud University Rector Abdullah Al-Othman, and meant to develop a means of investment for RTV, which is a key component of Saudi Arabia’s plans to establish a knowledge-based economy and holds great potential for diversifying the national economy and strengthening its competitiveness. King Saud University, through projects such as RTV, is creating opportunities for young researchers and scientists to participate in the development of society through the application of their research and innovations.
During the meeting, committee members discussed the formation of a governing council and laid groundwork for the company’s structure, activities and responsibilities. The committee also discussed the main interests of the company with regard to its relations with the various departments of King Saud University and the mechanisms to support the direction of the company.
Dr. Al-Othman stated that RTV will to play a major role for creating jobs in a various industries for university graduates and will help them to transform their research ideas and innovations into economic products useful for society. The company will provide students and graduates with counseling and practical guidance, and cultivate a sense of entrepreneurship, the goal being to help Saudi Arabia’s future generations to create successful businesses and engines of development, and take a leading role in the development of the country.
Vice Rector for Graduate Studies and Scientific Research Prof. Ali Al-Ghamdi extended his heartfelt gratitude to Dr. Al-Othman and the committee members for their endeavors and support of the investment company, stating that such efforts will lead the country towards the knowledge-based economy. He expressed his great satisfaction regarding the committee’s efforts to attract investors and form a lasting business partnership with local, national and international organizations in support of various ambitious pilot projects at Riyadh Techno Valley.