Riyadh: Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud announced the launch of the first non-profit city.
The Prince Mohammed Bin Salman Non-Profit City in Riyadh is expected to be a model for the development of the non-profit sector globally and an incubator for youth and volunteer groups as well as local and international non-profit institutions, Xinhua news agency quoted a local media report as saying.
The city will be built on an area of around 3.4 square kilometres and will support innovation, entrepreneurship and qualifying future leaders by defining non-profit work.
The city that implements the digital twin model, will host academies, colleges, schools, a conference centre, science museum, creative centre offering a space to support the ambitions of innovators in sciences and new generation technology, the Crown Prince said following the launch on Sunday.
In addition, the city will host venture capital firms and investors to support and incubate innovative enterprises to drive community contributions from around the world.
The launch of the city comes days after the announcement of the offering of Saudi nationality to some talented individuals, in order to promote creativity and innovations.