Neom is a developing area within northwest Saudi Arabia that's touted as "a hub for innovation," according to its website.

Paradromics Inc., a brain implant rival to Elon Musk’s Neuralink Corp., is partnering with Saudi Arabia’s Neom to develop brain-computer interface therapies in the Middle East and North Africa.

Paradromics announced today that it received a strategic investment from NEOM, a region taking shape in Saudi Arabia.

Meanwhile, Neuralink is also facing competition. Last month, it was reported that neurotech startup Paradromics is preparing to conduct human trials of its brain implant, marking its entry into ...