Forbes has unveiled a list of the most innovative Saudi companies that have obtained the highest number of international patents and made giant leaps in recent years.
It noted that the total number of patents obtained by Saudi Aramco from its founding in 1933 until 2010 is about 100, and in 2021 only, the company obtained 864 patents from the United States Patent and Trademark Office, thus ranking first as the most innovative company and entering the list of the top 50 global companies and universities that obtained patents this year. In 2022, the company reinforced its efforts in research and innovation, with the number of patents increasing to 963. Saudi Aramco also ranks first in the oil and gas sector globally.
According to the US magazine, the Saudi government, with the support of major telecommunications and industrial companies, has worked over the past decade to develop the country’s innovation ecosystem, and these efforts have begun to bear fruit.
“Today, Saudi Arabia is among the fastest transforming countries in the world, as it is diversifying its economy and introducing whole new sectors,” the report added.
According to Forbes, Saudi Arabia jumped 15 ranks on the Global Innovation Index 2022 issued by the World Intellectual Property Organization. The Kingdom also ranked second among the G20 countries in terms of digital competitiveness, according to the European Center for Digital Competitiveness.
The Kingdom is focusing its innovation efforts on sustainability. It announced its commitment to increasing the percentage of energy generation from renewable sources to reach 50 percent by 2030, which in turn would bring the carbon emissions to net-zero by 2060. In the same context, the Saline Water Conversion Corporation entered the Guinness Book of Records by achieving a new record for being the lowest energy-consuming desalination plant in the world, at a rate of 2.27 kilowatt-hour per cubic meter of desalinated water.
Crown Prince Mohammed bin Salman has announced the national aspirations and priorities for research, development and innovation in Saudi Arabia for the next two decades, based on four main priorities: Human health, environmental sustainability and basic needs, leadership in energy and industry, and future economies. The aim is to enhance the Kingdom’s global competitiveness and strengthen its position in the region, in line with the directives of Vision 2030.
The Research, Development and Innovation Authority collaborated with Forbes Middle East to review the 10 most innovative companies in Saudi Arabia, in addition to identifying 40 of the Kingdom’s most progressive companies, divided into four key sectors according to the national aspirations and priorities.
