Xlife Sciences AG is elected as Innovation Partner for Saudi Arabia, and signed a strategic partnership with the development organization Peace City World as part of the Vision 2030 future program. Peace City World is the official developer of four Smart Cities in Saudi Arabia and Tunisia as well as part of Vision 2030. The Vision 2030 program was launched by the Saudi Crown Prince in 2016, which aims to reduce Saudi Arabia’s dependence on fossil fuels and diversify its economy financially.
The report claims that, as part of the partnership, Xlife Sciences will be granted a budget of up to 50 million US Dollars. The core focus is the establishment of an innovation center and technology transfer for the Smart Cities initiative.
The report presents that, the partnership is based in the field of sustainable health and particularly focuses on promoting innovation and technology transfer to the Middle East.
Oliver R. Baumann, CEO of Xlife Sciences sees significant potential in the collaboration, he states that “For Xlife, the partnership with Saudi Arabia is a recognition of our work and a step towards more international presence and innovation in our four pillars of technology platforms, biotech, MedTech and artificial intelligence. Furthermore, by participating in the program, Xlife is significantly expanding its network of relationships and presence in the region. In terms of the program, further license partners for the various technologies may be found, particularly for the exit of project companies and the acceleration of registration processes”, says Baumann.
According to the management of Xlife, the funds of up to 50 million US Dollars will especially be used for the construction of an innovation centre and the further development of smart city technologies. As part of the Smart City Sustainability initiative, Saudi Arabia aims to operate ten cities sustainably in the mid-term. Moreover, the funds are also intended to further advance the scaling process of various Xlife project companies.