Anambra, Saudi company sign MoU to accelerate investment

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By Madu Obi

The Solution Innovation District (SID), run by the Government of Anambra State, and Dhahran Techno Valley Holding Company (DTVC), a leading science and technology hub based in the Kingdom of Saudi Arabia, have signed a memorandum of understanding (MoU) to strengthen collaboration in research, innovation, entrepreneurship, and technology commercialisation.

The agreement, signed during a high-level innovation engagement in Beijing, China, marks the beginning of a strategic partnership designed to accelerate innovation-driven economic growth across Africa and the Middle East.

Under the MoU, both parties will collaborate in key areas of startup & venture acceleration – joint accelerator programmes and venture-building initiatives in sectors such as energy, sustainability, and emerging technologies.

Other areas to be covered include investment & business development, knowledge sharing & industry engagement, networking & collaboration platforms, as well as events & knowledge exchange, such as co-hosting international summits, workshops, and meetings to foster global innovation linkages.

Speaking during the ceremony, the Chief Executive Officer of SID and Special Adviser to the Governor of Anambra State on Innovation and Business Incubation, Chinwe Okoli emphasized the significance of the partnership.

“This collaboration represents a major milestone for Anambra State and Nigeria’s innovation ecosystem. Our partnership with DTVC reflects SID’s commitment to building strong international linkages that accelerate technology development, commercialisation, and sustainable growth.

By collaborating with DTVC, we are creating opportunities for startups, researchers, and industry players to collaboratively develop solutions that tackle global issues and promote inclusive economic growth. Together, we will empower innovators and entrepreneurs to scale solutions with global impact", Okoli said.

On his part, the Chief Executive Officer of DTVC, Mohammed Abusharifah noted the alignment with DTVC’s mission to advance global technology partnerships:

“DTVC reaffirms its commitment to accelerate the journey of ideas from lab to market by bridging world-class research with entrepreneurial spirit.

"Our partnership with SID will create a bridge for an increase in the flow of talent, expertise, and investments between our two innovation hubs", he said.