Newlab, a global venture platform for critical technology startups, is expanding to Saudi Arabia. This move aligns with Saudi Vision 2030, aiming to drive economic diversification and foster a thriving startup ecosystem through public-private partnerships.
Newlab Saudi Arabia will foster innovation with a Strategic Hub
Newlab Riyadh will serve as a catalyst for innovation, focusing on commercializing critical technologies across industries like mining, logistics, and energy. Building on the success of its hubs in Brooklyn, Detroit, and Montevideo, the Riyadh expansion is set to attract leading-edge startups to the region, enabling transformative growth and impactful collaborations.
The initiative begins in 2025 with a beta space for startups to develop and scale their solutions. By 2026, a fully equipped innovation hub will open, featuring flexible workspaces, labs, workshops, and event areas. These facilities will foster collaboration among startups, investors, and government stakeholders, ensuring a robust foundation for sustainable innovation.
Programs Driving Technological Solutions
Newlab’s Riyadh hub will host sector-specific, challenge-driven programs designed to connect startups with potential end-users and investors. The first initiative, The Mining Innovation Studio, aims to attract startups addressing critical challenges in the mining sector. The program focuses on:
- Accelerating mineral exploration
- Enhancing mining efficiency and compliance
- Reducing emissions in the mining value chain
- Improving the processing of critical minerals
Key partners include the National Industrial Development and Logistics Program (NIDLP), Ministry of Industry and Minerals (MIM), Saudi Geological Survey (SGS), Ma’aden, and Saudi Mining Services Company (ESNAD). Future programs will expand into energy, logistics, and advanced manufacturing.
Leadership and Vision
David Belt, Co-founder and Executive Chair of Newlab, emphasized the significance of this expansion:
“Saudi Arabia’s economic transformation presents a generational opportunity to foster a startup ecosystem that addresses global-scale industrial challenges. Our work will not only help the Kingdom achieve its 2030 goals but also drive global decarbonization and sustainability.”
Eng. Suliman Almazroua, CEO of NIDLP, shared his excitement about the initiative:
“The Mining Innovation Studio will unlock opportunities, address challenges, and contribute to the Kingdom’s efforts in economic diversification and sustainability.”
Bob Wilt, CEO of Ma’aden, stated, “This partnership positions Saudi Arabia as a global leader in mining technology and innovation.”
A Local Visionary at the Helm
Leading the expansion is Muneef M. AlMuneef, who brings 16 years of experience in strategic public and private sector roles. AlMuneef previously served as General Director of Renewable Energy Policies at the Ministry of Energy, where he played a key role in advancing renewable energy initiatives in Saudi Arabia.
About Newlab
Newlab is a global platform supporting critical technology startups that transform industries. With hubs in Brooklyn, Detroit, Montevideo, and now Riyadh, Newlab connects startups with infrastructure, funding, and commercialization projects. Its portfolio includes over 400 startups, which have collectively raised $5.8 billion and achieved a valuation exceeding $20 billion.
