Avascent and RPDC Form Strategic Partnership to Support Technology Commercialization in Saudi Arabia
DUBAI – Avascent has entered into a strategic partnership with RPDC (Research Products Development Company) to localize market intelligence and technology commercialization assessment capabilities in the Kingdom of Saudi Arabia.
Sponsored by the Saudi Arabia Advanced Research Alliance (SAARA), RPDC is the national center for technology development and commercialization, pursuing an agenda aligned with the Kingdom’s Vision 2030 to transform the Saudi Arabian economy.
The partnership advances the relationship Avascent and RPDC have fostered over the past several years, committing the two organizations to work jointly to bring new capabilities and expertise to serve public and private research and development institutions.
The firms have worked together across a range of high technology domains, ranging from energy to healthcare for clients including Saudi Aramco and the King Abdulaziz City for Science and Technology (KACST).
Recent joint engagements have explored the establishment of cell therapy centers, the development of innovative cancer screening technology, the deployment of unmanned systems for the maintenance of underwater pipelines, and the reformulation of polymers to reduce the impact of plastics on the environment.
Together, the firms seek to support commercialization while also recruiting, training, and developing teams of Saudi nationals to support future entrepreneurial initiatives.
Mr. Abdulmohsen Almajnouni, CEO of RPDC, and Steve Irwin, president of Washington, DC-based Avascent, signed the strategic partnership agreement at the Dubai Air Show.
“Our strategic partnership with Avascent is an important milestone in furthering RPDC’s commitment to startup innovations, accelerating research commercialization, and entrepreneurial initiatives in the Kingdom,” said Almajnouni.
“We have developed a strong working relationship with RPDC over the years, and under this agreement we look forward to even closer collaboration to pursue efforts across sectors ranging from space to healthcare to information technology,” commented Irwin.
His Highness Prince Dr. Turki bin Saud bin Mohammed Al Saud, chairman of RPDC’s parent organization, TAQNIA, who witnessed the signing of the strategic partnership agreement, said, “RPDC’s partnership with Avascent will contribute to the training and development of Saudi youth, in line with the Kingdom’s Vision 2030; supporting the national economy, driving development, creating new jobs and diversifying sources of income.”
Avascent brings to the partnership its deep expertise in government-driven sectors and high-technology business models, as well as a proven ability to train and develop highly capable consulting teams.
Avascent Managing Director Jay Korman, who leads the firm’s efforts in the Kingdom, added, “RPDC’s mission is emblematic of the transformative change underway in Saudi Arabia, and our partnership represents a valuable and effective step in promoting economic development.”
Avascent is the leading strategy consulting and analytics firm serving clients operating in government-driven markets. Working with corporate leaders and financial investors, Avascent delivers sophisticated, fact-based solutions in the areas of strategic growth, value capture, and mergers and acquisitions support. With deep sector expertise, analytically rigorous consulting methodologies, and a uniquely flexible service model, Avascent provides clients with the insights and advice they need to succeed in dynamic customer environments. To find out more about Avascent, visit: https://www.avascent.com
Research Products Development Company (RPDC) is the national center for technology development and commercialization in Saudi Arabia. Aligned with the Kingdom’s Vision 2030 and national initiatives to transform Saudi Arabia’s economy, RPDCs’ mission is to bridge the gap between national R&D and local content by developing technology innovation into successful business opportunities. To find out more about RPDC, visit: http://rpdinnovations.com