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KAUST is the first university to sign a memorandum of understanding with the Chinese company Innovation Ventures.

King Abdullah University of Science and Technology (KAUST) and Chinese investment firm, Sinovation Ventures, signed a memorandum of understanding establishing a working relationship that serves their common strategic interests by launching technology projects, establishing technology development partnerships and related advice .

The president of KAUST, the professor Tony Chan, and Vice President for Innovation, Dr. Kevin Cullen, met with Sinovation CEO Dr. investment construction projects in this field.

Synovation will meet a number of KAUST startups in areas of interest to the company and a group of working academics in technical fields with promising commercial potential.

On this occasion, Chan said: “Synovation Ventures is one of the most successful venture capital firms in the world and has a special experience in supporting emerging companies specialized in artificial intelligence technologies in China. As we aspire to expand our business activities, achieve the mission of the university and contribute strongly to Saudi Vision 2030. This partnership with Synovation will put us in a privileged position to achieve our goals”.

For his part, Dr. Lee, CEO of Sinovation, said, “We have never signed a memorandum of understanding with any university before today, and it is an honor to do so with KAUST first, and we are truly looking forward to build a long relationship and a fruitful cooperation with the university.”

He added: “We want – through this memorandum of understanding – to show our commitment to researching other technologies in KAUST and use our experience in building projects and find a product that achieves the desired impact in both the Chinese market and in the Saudi one.”


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