RIYADH: Saudi Arabia welcomed the Canadian Innovation Delegation — an initiative organized by Inovia Capital in collaboration with the Embassy of Canada — from Sept. 28-30.
The visit brought together Canadian tech companies, venture capital firms, and artificial intelligence research institutions to engage with key Saudi stakeholders, including the Public Investment Fund, Neom, Humain, Sanabil, the King Abdulaziz City for Science and Technology, and the Ministry of Communications and Information Technology.
It marked a strategic effort to strengthen bilateral relations through partnerships in technology, investment, and research, while promoting global innovations and increasing collaboration between Saudi Arabia and Canada.
Nick Frosst, co-founder of Cohere and a guest of the visiting delegation, told Arab News: “We are quite excited about the region. (It) is a very dynamic and exciting time for the area. The investment and excitement … a vision of what AI can do for the country is very clear.
“As a leading company focused on secure enterprise AI, there’s a huge opportunity here (Saudi Arabia) to collaborate. We met with many prospective partners, both investors and customers.”
Frosst added: “There are many people within the startup ecosystem, like myself, who are leading Canadian startups, as well as other VC (venture capital) and investment organizations that are representing Canada.
“We make foundational language models and we make them available to our enterprise customers, focusing on secure deployment and customization, so we work with many large multinational companies, several in the region, including STC.”
The delegation also held networking sessions with the Kingdom’s venture capitalists and investment stakeholders, including representatives from the innovation hub, The Garage.
The diplomatic and economic relationship between Saudi Arabia and Canada has expanded well beyond the traditional trade in oil and its commodities, and now encompasses new ventures in innovation and technology.
