Innovation and economic development represent a roadmap for the industry of young entrepreneurs. Those who were motivated by ambitions, and raised the ceiling of their orientations to enter the field of work; seeking to build their own projects; At a time when the entrepreneurship sector is one of the national development resources sought by Saudi Vision 2030.
The King Abdullah University of Science and Technology (KAUST) is a living model for creating entrepreneurs of both sexes, contributing to the diversification of economic fields in the Kingdom and transforming its economy into a knowledge-based economy. Which enhances its role as a project institution and a gateway to enter these human resources that the Kingdom is proud of. At the global level, knowledge, thought, and direction, in addition to KAUST investing in startups; Where the university has more than 100 nationalities with expertise in important scientific fields such as: biological and environmental sciences, computer science, engineering and chemistry; With the provision of master’s and doctoral degrees in 12 fields in science and technology, with the provision of opportunities for training, employment and rehabilitation of entrepreneurs.
KAUST employs its scientists and researchers to develop research and innovations to support startups and provide a group of leading minds in the practice of project management. Where the KAUST Academy strives for innovation; To develop various businesses and entrepreneurship, to establish a culture of innovation and to accelerate the development of new products or services that will help diversify the economy; In particular, finding startups in the field of technology, physical and chemical sciences, as well as information technology and digital technologies.
The President of King Abdullah University of Science and Technology (KAUST), Professor Tony Chan, explained; Technology commercialization is the process of bringing research output from a laboratory to market; To multiply the tasks of KAUST in economic development, and to make every effort to instill a strong and firm culture of entrepreneurship. Where the university manages acceleration mechanisms for startups, and provides training and educational programs on entrepreneurship for students, faculty members, visitors from outside the university, and its industrial partners.
He said: King Abdullah University of Science and Technology (KAUST) is particularly interested in supporting new projects. that are in line with the research activities of the university; which will have local or regional impacts and job creation; targeting the university through the KAUST Innovation Fund; Developing a technology innovation and investment community and attracting international investors and venture capitalists to the emerging Saudi tech ecosystem; Where the fund’s investments focus on internal startup projects in KAUST through teams working on pioneering projects related to areas of excellence in the university, and early-stage companies; This is through KAUST startups that have gone through the incorporation process and need additional financing, as well as spin-off companies; As international, early-stage high-tech companies interested in establishing research and development activities at KAUST.
He added that the true value of universities and their impact on preparing and shaping entrepreneurs and future leaders; Today, it is integrating entrepreneurship into its experience and academic programmes. This includes offering curricula based on innovation and entrepreneurship, communicating with leaders and industry, and securing capital. Thus, it becomes the ideal incubator in this field for its ability to reduce risks by giving innovators the opportunity and the appropriate ground to complete their path of success in this vital and important sector.
For his part, Professor Pierre Magistreti, Vice President for Research at King Abdullah University of Science and Technology “KAUST”; The mission of economic development at the university is to contribute to the transformation of the Kingdom into a knowledge-based economy, and to develop a successful and effective model for transferring technology from the stage of scientific research to the stage of introducing new products and companies based on knowledge, as well as establishing continuous partnerships with the local industry and the business sector to stimulate growth and raise The level of competitiveness through technology and creativity.
He pointed out that KAUST took the lead in preparing and empowering the next generation of entrepreneurs in the field of advanced technologies, and supporting research in four strategic axes: food, water, energy and the environment; And to reinforce this trend.. In 2011, the university established an entrepreneurship training center on its campus, in addition to the venture capital fund, with the aim of accelerating Saudi startups and Saudi entrepreneurs. Especially since entrepreneurship plays a major role in the development of the national economy. Which in turn is at the heart of the university’s mission.
For his part, the head of the Center for Entrepreneurship at KAUST University, Hattan Ahmed, indicated; To the university’s integrated system and environment for entrepreneurship; to provide training, mentorship, funding, labs, and space for prototyping; Where the university has so far been able to train; More than 8,000 innovators from the Kingdom, in partnership with 18 Saudi universities, and the graduation of 206 startups.
And he indicated that the “Takadum” program is one of the most famous pioneering programs offered by the center to accelerate projects and start-up companies, in addition to providing an entrepreneurship education program for its students. It includes classes in thinking, design, leadership and basic skills needed for employment; In addition, work is continuing at the Entrepreneurship Center to accelerate entrepreneurship through KAUST’s launch of programs that educate entrepreneurs and provide them with the necessary guidance to launch new, impactful projects.