Jeddah: Cultural barriers, lack of adequate investment in research and development, and a low rate of graduates in scientific fields are among the greatest challenges faced by Islamic Development Bank (IDB) member countries in fostering innovation. Finance leaders attending Innovation Forum, hosted by the IDB Group deliberated on these pressing issues. The forum brought together international experts as well as youth leaders to discuss ways to foster an innovation culture, building startup ecosystems, and find opportunities. It is important that schools and education institutes promote innovation and not suppress it, said Dr. Nabeel Koshak, president of Baha University in Saudi Arabia.
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