Home of Innovation holds Eighth Advisory Committee Meeting

Home of Innovation holds Eighth Advisory Committee Meeting

The Home of Innovation™ (HoI) held its eighth Advisory Committee meeting on December 19, 2024. The initiative, which is part of the Local Content and Business Development Unit (LCBU), seeks to contribute toward achieving the objectives of Saudi Vision 2030 in localization and technology transfer.

Senior ministry officials and a number of HoI participant companies attended the meeting. The ministries represented were Industry & Mineral Resources, Municipal & Rural Affairs, Investment, and Health.

Other officials attending the meeting were from the Local Content and Government Procurement Authority, the Saudi Standards, Metrology and Quality Organization, the National Industrial Development Center, the National Energy Services Company (Tarshid), the Public Investment Fund represented by the National Development Department, NEOM, Roshen, Misk, the New Murabba project, and the Voluntary Carbon Market Company.

In his welcome speech, Talal Al-Hashem, Chairman, HoI, stressed the key role played by the members of the committee in creating development opportunities that contribute to the growth of the local industry.

The meeting later discussed the committee's previous recommendations, and the progress made since then. A presentation highlighted the experience of the Ministry of Health in restructuring job roles and specialized training, besides the positive impact on the efficiency of the health system.

The meeting also viewed latest HoI developments, including new partners from local and international manufacturers, and discussed the latest localized technologies and key joint activities with the relevant authorities.

Around the meeting’s theme, "Carbon Credits and Sustainability,” the Voluntary Carbon Market Company briefed the meeting on the role of the voluntary carbon market in stimulating technologies and projects that contribute to reducing harmful emissions. It also shared innovative financial solutions to enhance the economic feasibility of the desired projects.

The HOI Advisory Committee aims to bridge the gap between all innovation stakeholders in the ecosystem and convey the voice of the industry to legislators and enablers to maximize the results from various collaborative efforts.