The Small and Medium Enterprises General Authority “Monsha’at” announced the launch of the Virtual Lab during the Biban 24 Forum, held under the theme “Global Destination for Opportunities” at the Riyadh Front Exhibition and Conference Center from November 5 to 9.
The Vice Governor of the Research Development and Innovation Authority, Doctor Hani Choudhry, inaugurated the Virtual Lab, which aims to enable entrepreneurs and innovators to turn their ideas into viable initial business models, whether tangible products or software solutions, by providing an integrated innovation environment.
The lab offers high-quality technical support, including 3D printers, electronic chips, and other advanced tools, enabling innovators to access prototyping services without bearing high costs. The lab also provides support vouchers for obtaining prototyping services from private sector service providers, with a focus on evaluating ideas and ensuring they match market needs, which raises the quality of innovation outputs and helps drive economic growth and innovation in the Kingdom.
The Virtual Lab comes as part of Monsha’at’s efforts to strengthen the innovation ecosystem in the Kingdom by directly connecting entrepreneurs with university labs, startups, and technology service providers, helping to provide a fertile environment for turning ideas into viable projects.
The Virtual Lab marks a qualitative step toward achieving the objectives of Saudi Vision 2030, as it supports the innovation economy and strengthens the ability of SMEs to expand and compete in local and global markets. Access the Virtual Lab services.