In line with Saudi Arabia’s Vision 2030, the Communications and Information Technology Commission (CITC) has launched the Emerging Technologies Regulatory Sandbox to support investors and companies interested in the Kingdom’s emerging tech field. The Regulatory Sandbox aims to increase investment, foster innovation, maintain effective consumer protection, and encourage the introduction of new products and services into the Saudi markets. The initiative’s targeted technologies include Internet of Things (IoT), Blockchain, Augmented Reality/Virtual Reality/Extended Reality (AR/VR/XR), Digital Twin, 3D/4D printing, and cloud computing.
According to CITC, the expected benefits of participating in the emerging technologies regulatory sandbox are: 1) to accelerate the launch of business models, solutions, and services; 2) to build new partnerships; and 3) to align with regulatory requirements. Through the Sandbox environment, CITC also increases legal certainty and cross-government cooperation, as well as driving knowledge sharing through collaboration.
Application Requirements
To apply to the regulatory sandbox, companies must demonstrate:
- The readiness of an innovative business model, solution, and service.
- The reliance of their business model, solution, and service on emerging technologies.
- Clear benefits to end customers.
- A clear plan for participation and testing of the business model, solution, and service.
- A plan to commercially launch or scale the business in Saudi Arabia.
The application form can be accessed here.
The application guidelines can be accessed here.
Regulatory Sandbox Context
Regulators are looking for ways to find a balance between enabling growth and driving competition on the one hand and safeguarding the wellbeing and security of citizens on the other. Many regulators around the world have launched regulatory sandboxes that allow firms to fast-track the testing of innovations in emerging technologies in a protected environment, and in many cases provide regulatory certainty for new technologies and services.
If you are interested in learning more about the Emerging Technologies Regulatory Sandbox, require support with the application process or engaging the CITC, please contact Hussein Abul-Enein at hussein.abul-enein@accesspartnership.com, or Anja Engen at anja.engen@accesspartnership.com.
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