On the Sidelines of LEAP, The Garage and NRG Ventures Cooperate to Explore Future Opportunities in Innovation and Entrepreneurship

The Garage Information Technology Company and NRG Ventures signed Wednesday a memorandum of understanding to explore opportunities for future cooperation in the field of innovation and entrepreneurship. This came on the sidelines of the International Tech Conference (LEAP23).
The Garage was represented in the agreement by Omar Al-Shab’an, CEO of the company, while NRG Ventures was represented by its co-founder, Roman Tyan.
The partnership aims to raise awareness of the opportunities for innovative startups in the field of deep technology to enhance their presence in the Kingdom, facilitate communications among foreign startups and those working in the field of research, development and innovation in the innovation system, host emerging companies in deep technologies and link them to the local private sector and entrepreneurship in the Kingdom, and organize the flow of deals in the early stages of companies by providing incorporation, selection, acceleration and guidance services to ensure their entry into the Kingdom.
The cooperation between The Garage and NRG Ventures enhances the exploration of opportunities and areas that would contribute to enriching the research, development and innovation system and maximizing the economic impact in the Kingdom. The Garage aims to empower and enhance the talents of those wishing to establish Saudi and international technology companies through a hybrid business model that combines business incubators, co-working spaces and business accelerators, while NRG Ventures, a US-based venture capital fund, concentrates on investing in global high-tech startups.