KACST hosts a seminar on entrepreneurship in KSA
King Abdulaziz City for Science and Technology (KACST), hosted a seminar titled "Entrepreneurship Environment in KSA", organised by the Salman Al Sodairy Law Office and the US Law Firm "Latham and Watkins", in cooperation with Badir Program for Technology Incubators and Accelerators and Oqal Group.
The seminar brought together a number of venture capital firms, networks of individual investors, supporting governmental institutions and Saudi entrepreneurs and highlighted the most prominent issues of entrepreneurship in the Kingdom and the lessons learned from the leading environment in Silicon Valley, USA.
The seminar provided four startup incubated by Badir Programme with the opportunity to present their projects to investors, a matter which contributed to the in-depth understanding of the current environment of entrepreneurship in the Kingdom and of the type of projects that will shape this environment.
In this regard, Nawaf Al Sahhaf, the CEO of Badir Program, said that: "This seminar comes at a time when the Saudi market is experiencing an unprecedented boom in entrepreneurship, with a growing interest in startups at the local level. Further, the investors’ appetite in the field of startups became apparent and tangible in the Saudi market.
Al Sahhaf emphasized that the startup technology companies are vital to the Kingdom's economy and constitute an essential engine for creating job opportunities and introducing new business models. Further, they represent an important source of innovation and talent exploration in the field of entrepreneurship. He pointed out that the seminar is one of a series of seminars and workshops which aim at promoting a culture of entrepreneurship and assisting with some of the difficulties faced by the startups, when seeking appropriate finance.