BIAC, Simera Innovate launch JV to accelerate Industry 4.0

Nawaf Alsahaf, Chief Executive Officer of BIAC (right) and Johann du Toit, Chief Executive Officer of Simera Innovate, following the signing ceremony in Riyadh.

The Business Incubators and Accelerators Company (BIAC), a subsidiary of Saudi Technology Development and Investment Company (TAQNIA) and Simera Innovate GmbH, engineering simulation and data management systems company, on Wednesday, announced the formation of a new joint venture company to support and develop Industry 4.0 technology applications in the Kingdom.

The new company, Simera Innovate Saudi Arabia, will focus on small and medium enterprise development to accomplish the National Transformation Plan 2020 and Vision 2030 ambitions and objectives.

"Our new JV company, Simera Innovate Saudi Arabia, will emphasize on SME development and play its part to lay the foundations of a vibrant Saudi SME landscape supporting large national projects and encourage economic diversification,” said Johann du Toit, chief executive officer, Simera Innovate.

Nawaf Alsahaf, Chief Executive Officer of BIAC, added: “The joint venture will train and employ numerous male and female Saudi creators and engineers, specializing in Industry 4.0 related technologies.”

The Kingdom has adopted Industry 4.0 as a national priority to generate thousands of skilled jobs, as nearly two-thirds of its population is below 30.