Newlab, a global venture platform focused on critical technology startups, has announced its expansion into the Kingdom of Saudi Arabia (KSA) through a strategic public-private partnership involving key public sector agencies and industry leaders. This expansion marks a significant milestone in Newlab’s mission to accelerate the commercialization of critical technologies by connecting cross-sector partners, infrastructure, capital, and resources in key global regions.
Newlab Riyadh will serve as a hub for critical-tech startups, fostering commercialization outcomes that will contribute to economic growth in both the Kingdom and the broader region. The new Riyadh initiative joins Newlab’s expanding network of innovation hubs, including locations in Brooklyn, Detroit, and Montevideo.
An initial beta space in Riyadh will be launched in 2025, providing essential technical infrastructure for startups to collaborate and scale. The larger innovation hub, set to open in 2026, will feature flexible workstations, private studios, labs, workshops, and event areas designed for product launches and large-scale presentations. Newlab is dedicated to long-term growth in the region, ensuring vital technologies can be effectively scaled to meet global needs.
To catalyze the startup ecosystem, Newlab will introduce sector-focused, challenge-based programs aimed at attracting top startups, driving investment activity, and enabling collaboration between startups and end-users. The first program, The Mining Innovation Studio, will focus on technology solutions for key challenges in the mining value chain, such as accelerating exploration, increasing efficiency, reducing emissions, and improving mineral processing and recovery.
The Mining Innovation Studio will be supported by organizations such as the National Industrial Development and Logistics Program (NIDLP), the Ministry of Industry and Minerals (MIM), Saudi Geological Survey (SGS), Saudi Arabia Mining Company (Ma’aden), and Saudi Mining Services Company (ESNAD). Future programs will target Energy, Logistics, and Advanced Manufacturing.
David Belt, Co-founder and Executive Chair of Newlab, emphasized the opportunity in KSA, saying, “The economic transformation in KSA represents a generational opportunity to create a startup ecosystem that drives technology-led growth and addresses industrial-scale challenges worldwide. Our work will help KSA meet its 2030 goals and accelerate decarbonization and sustainability.”
Eng. Suliman Almazroua, CEO of NIDLP, underscored the importance of initiatives like the Mining Innovation Studio in fostering innovation and addressing the Kingdom’s mining sector challenges, supporting economic diversification and sustainability in line with Saudi Vision 2030.
Bob Wilt, CEO of Ma’aden, expressed pride in being part of this transformative initiative, highlighting its potential to position Saudi Arabia as a global leader in mining technology and innovation.
Newlab has appointed Muneef M. AlMuneef to lead the Riyadh hub and oversee the company’s regional expansion. AlMuneef brings over 16 years of experience in both the public and private sectors, having most recently served as the General Director of Renewable Energy Policies at the Ministry of Energy, where he played a key role in advancing KSA’s renewable energy strategy.
