Innovation driven by health sector in Saudi Arabia

07/06/22

Saudi Arabia is actively encouraging innovation in the health sector to promote healthier lifestyles with better mental health.

It is expected to result in superior healthcare with benefits including lower costs and improved patient experiences providing a higher quality of life. This goal can be accelerated by integrating modern technology into communication, diagnosis and treatment of ailments by using analytical data to detect and monitor diseases.

In addition, the health sector will benefit from newly designed smart healthcare applications as well as new medical devices and pharmaceutical developments. However, it needs to attract specialists, creators and investors to improve even more and faster. Similarly, it must develop its business models and optimize design, production and distribution.

The country is already making giant steps in its entrepreneurial drive and has risen significantly in the Global Innovation Output Index since 2010 when the Council of Ministers established the Research, Development and Innovation Authority. One of the main goals of the Vision 2030 is to be among the top ten countries in the Global Competitiveness Index by 2030.

Entrepreneurism is adopted at a rapid speed in the Kingdom of Saudi Arabia due to the increase of business incubators and accelerators and the development of a support structure for start-ups and scale-ups. They offer a practical way to equip small businesses (SMBs) as well as small and medium-sized enterprises (SMEs) with skills and knowledge to realise ideas and turn them into marketable products and services.

It is accepted that SMBs and SMEs are important contributors to mature economies. As a result, Saudi Arabia`s Vision 2030 seeks to increase the development of start-ups, scale-ups, SMBs and SMEs by facilitating their access to talent, access to market, access to finance and favourable regulations.

Business Start Up Saudi Arabia has a network of subject matter experts and specialists to assist with activities throughout the lifecycle of a business in the Kingdom of Saudi Arabia. The activities include Market Research & Assessment Saudi Arabia, Saudi Arabia Business Case, Saudi Arabia Business Model Development, Feasibility Study / Business Plan Saudi Arabia, Organizational & Operational Structuring Saudi Arabia, Saudi Arabia Sponsorship & Partnership, Company Formation Saudi Arabia and many others.

Please click on the link to learn more about the latest developments in the region and the opportunities and possibilities in the Kingdom of Saudi Arabia as well as the initiatives of Business Start Up Saudi Arabia.

Other News

BSUS News 19 - Thumb

Demand and timing key to success in Saudi Arabia

Saudi Arabia’s technology sector is growing rapidly as start-ups, scale-ups and small businesses take advantage of the Kingdom’s ongoing economic reforms.

Specifically,...

Read more
BSUS News 17 - Thumb

PIF generated half a million jobs in Saudi Arabia

Saudi Arabia`s Public Investment Fund (PIF) has generated over 500,000 jobs in 13 strategic sectors.

One of the central roles of the PIF is to increase economic and business opportunities in the Kingdom...

Read more
BSUS News 16 - Thumb

Saudi Green Initiative to be launched in November

Saudi Arabia will launch the Saudi Green Initiative in November as the Kingdom continues its journey towards a sustainable future.

Sustainability is at the heart of the Saudi Vision 2030...

Read more
BSUS News 14 - Thumb

Saudi Arabia’s hospitality sector is expanding quickly

Saudi Arabia welcomed 15 million tourists in the first three months of 2022 as the tourism sector witnessed a post pandemic revival.

Prior to the pandemic, Saudi Arabia transformed its tourist visa...

Read more
BSUS News 13 - Thumb

Saudi Arabia’s economy is estimated to grow significantly

Saudi Arabia's economy grew by 9.6% in the first quarter of 2022 according to flash estimates by the General Authority for Statistics (Gastat).

Early figures record...

Read more
BSUS News 12 - 020.00 - Thumb

Turkey and Saudi Arabia enroute to revive ties after visit

Saudi Arabia`s King Salman welcomed Turkish President Tayyip Erdogan recently at the al-Salam palace in the Red Sea city of Jeddah.

It is hoped the visit will lead to the normalisation of relations...

Read more
BSUSA News 11 - Thumb

Saudi Arabia improves status of foreign investors

Saudi Arabia`s most recent investment law is expected to increase international business in the country by 50 percent and significantly increase the country’s non-hydrocarbon gross domestic product.

The...

Read more
BSUS News 18 - Thumb

Saudi Arabia’s economic performance in 2021

Saudi Arabia`s economy recovered in 2021 after a difficult year with the restrictions of the pandemic as national, regional and international vaccination campaigns were rolled out and had an effect also...

Read more

Page Break