Research, Innovation and Entrepreneurship in Saudi Arabia: Vision 2030

Saudi Vision 2030 is a newly introduced 15-year economic plan by the Kingdom of Saudi Arabia to diversify its economy from a heavy dependence on hydrocarbon to knowledge-based resources. This vision was announced on 25th April 2016 with a set of comprehensive goals and guidelines that the Saudi government aims to achieve by 2030. This vision aspires to transform Saudi Arabia into a vibrant society, a thriving economy and an ambitious nation in the World. According to the World Bank, knowledge-based economies are defined by four pillars: institutional structures that provide incentives for entrepreneurship and the diffusion of knowledge, availability of skilled labor force and good education systems, ICT infrastructure, and a vibrant innovation landscape that includes academia, public and private sector, and civil society. One of the key elements of this vision emphasizes on building an education system aligned with market needs and creating economic opportunities for entrepreneurs, small enterprises, and large corporations. This book examines Saudi vision 2030 and discusses how this initiative will assist the government in achieving its envisioned goals, by creating a culture of research, innovation, and entrepreneurship. It studies the current state of play, as well as the new science, technology, research, innovation and entrepreneurship reforms in Saudi Arabia. The author presents a number of real-life case studies, as a model of inspiration for cross-sector development. The book provides a source of inspiration for other developing nations in studying endeavours of a determined and ambitious leadership, in a transitioning journey, from a natural resources-based economy towards a knowledge-based country.