Saudi Arabia’s Dhahran, Anambra’s Solution District sign MoU to speed up startups, tech investments

The Solution Innovation District (SID), run by the Government of Anambra State, Nigeria, 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, marks the beginning of a strategic partnership designed to accelerate innovation-driven economic growth across Africa and the Middle East.

A statement issued on Friday by Dr Law Mefor, the Commissioner for Information, Anambra State said that under the MoU, both parties will collaborate in key areas, including: Startup & Venture Acceleration – joint accelerator programmes and venture-building initiatives in sectors such as energy, sustainability, and emerging technologies.

The commissioner listed other areas covered by the deal to include Co- Investment and Business Development, development of frameworks to co-invest in high-potential startups and transformative technologies.

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It equally encompass knowledge sharing and industry engagement, exchange of expertise, best practices, and insights to drive R&D and commercialisation.

Also covered by the MoU under networking and collaboration platforms are creation of opportunities for startups, investors, researchers, and industry leaders connection.

In the areas of events and knowledge exchange the collaboration covers co-hosting of international summits, workshops, and B2B meetings to foster global innovation linkages.

Speaking on behalf of SID, Chinwe Okoli, Chief Executive Officer of SID and Special Adviser to the Governor of Anambra State on Innovation and Business Incubation, emphasised 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,” she added.

On his part, Mohammed Abusharifah, Chief Executive Officer of DTVC, underscored 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.

“This MoU underscores the shared vision of both parties to foster innovation ecosystems that not only benefit their local communities but also contribute to global knowledge exchange and economic advancement,” he remarked

Solution Innovation District (SID) is an initiative of the Government of Anambra State, Nigeria, dedicated to fostering innovation, entrepreneurship, and technological commercialisation. SID catalyzes startups, researchers, and industry leaders, driving inclusive economic transformation in the region.

Dhahran Techno Valley Holding Company (DTVC) based in the Kingdom of Saudi Arabia, is a premier science and technology hub focused on R&D collaboration, technology commercialisation, and industry partnerships. Through its ecosystem, DTVC empowers startups, accelerates innovation, and supports the growth of sustainable economies by providing access to funding, mentorship, and networking opportunities that facilitate the development of new technologies and business models.