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Technology Localization and its Role in Economic Development

May 20, 2022

technology localization

Technology transfer is a process in which technology or knowledge developed at one organization or country is transferred to another, typically for the purpose of commercialization. It can be done between universities, businesses, and governments, to share skills, knowledge, technologies, manufacturing methods, etc., thus ensuring that scientific and technological developments are available to a wider range of users who can in turn help develop it.

The need to localize technology, that is to say, to make technology development possible and available in one country, is one of the key pillars to economic growth. But the access to technology and innovation has been uneven, and there’s even a growing gap between developed and developing countries in how much innovative technologies are used for scientific research.

The 2030 vision developed by Saudi Arabia is an outstanding example of how governmental engagement can be a huge enabler of technology adoption. In this article we analyze how by making research and technology as one of the pillars of the 2030 strategic vision in Saudi Arabia, the country is ensuring a strategic orchestration between industrial sectors and the academic world and ensuring “alignment of education outputs with labor market needs”.

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