KACST to support technical incubators, entrepreneurs

Updated 20 December 2012
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KACST to support technical incubators, entrepreneurs

President of King Abdulaziz City for Science and Technology (KACST) Mohammed Al-Suwaiyel has expressed KACST’s readiness to provide all means of support to the technical entrepreneurs and incubator industry in the Kingdom.
Al-Suwaiyel, who was addressing a workshop on the performance of the Badir Program for Technology Incubators on Tuesday, said the drive would enhance the growth of small and medium enterprises (SMEs), develop and localize technology in the Kingdom conducive to diversify income sources and create more job opportunities for young Saudis.
The event was attended by Prince Turki bin Saud, vice president of KACST for research institutes; Abdul Aziz Al-Haraqan, director of the Badir program; and other officials concerned with the technical incubator industry.
Al-Suwaiyel said the workshop came as part of KACST’s ongoing efforts to optimize investments in Saudi minds and support innovation and entrepreneurship based on the national plan for science, technology and innovation as well as other strategic objectives. The Kingdom’s goal is to shift from an economy dependent on natural resources to a knowledge-based one.
The workshop is an opportunity to exchange ideas, listen to all proposals with utmost clarity, review achievements and face challenges ahead to rectify performance and achieve a quantum leap in support of innovation, entrepreneurship and the technology incubators industry in the Kingdom, he pointed out.
On his part, Prince Turki reaffirmed that KACST had given special attention to scientific research, technology and innovation and supported all efforts toward the development of technical entrepreneurs and the spread of a spirit of innovation among young Saudis.
Prince Turki referred to the success the Badir program had achieved in initiating mechanisms to provide funding facilities for technical projects through the establishment of the Angel Investor Networks and the Saudi Business Incubation Network. He referred in particular to KACST’s efforts in setting up a technology firm with a capital of SR 500 million aimed at supporting emerging technical projects.
Badir Director Abdul Aziz Al-Haraqan reviewed the program’s progress in the last five years. He said more than 7,500 attendees had benefited from workshops, lectures and training programs organized by the program.


Saudi aircraft firm reveals major growth plans

Saudi military industry aims to create jobs for Saudi people and increase the Kingdom’s export potential. SPA
Updated 3 min 45 sec ago
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Saudi aircraft firm reveals major growth plans

  • The AACC signed an agreement to handle maintenance of C-130 aircraft system with the Saudia Aerospace Engineering Industries
  • The AACC signed an agreement to maintain landing systems with Saudi Arabian Airlines

JEDDAH: The new Aircraft Accessories and Components Company (AACC) headquarters at King Abdul Aziz International Airport in Jeddah were officially opened on Friday by Saudi Arabian Military Industries (SAMI) Chairman Ahmed Al-Khatib.

In his opening speech, Eng. Mansour Al-Eid, AACC’s chief executive, said that the establishment of the General Authority for Military Industries and SAMI had helped to create jobs for Saudi people, boost the national income and increase the Kingdom’s export potential.
SAMI aims to contribute around SR14 billion ($3.73 billion) directly to Saudi Arabia’s gross domestic product (GDP).
Al-Eid said that the AACC aims to increase its job localization rate from 62 percent to 80 percent in the next two years.
The company is planning to increase repair capacity for Typhoon jets and the manufacture of major spare parts and hydraulic systems for the Hawk and Pilatus PC-21. It will also focus on the repair of landing systems for civilian aircraft and Lockheed C-130 aircraft systems — a first for the Middle East and North Africa region.
Al-Eid confirmed the company can now carry out maintenance on the largest commercial aircraft, including Boeing 777, and Airbus 320 and 380, in its facilities.
Al-Khatib witnessed the signing of several agreements between AACC, represented by Al-Eid, and Saudi Arabian Airlines, BAE Systems Saudi Arabia and the Saudia Aerospace Engineering Industries.
The AACC signed an agreement to maintain landing systems with Saudi Arabian Airlines, represented by its Director General Saleh Al-Jasser.
It also signed an agreement with BAE Systems Saudi Arabia, represented by Khalid Al-Otaibi, vice president for localization, for the localization of Typhoon and PC-21 hydraulic systems jobs.
The AACC signed an agreement to handle maintenance of C-130 aircraft system with the Saudia Aerospace Engineering Industries, represented by Mohammed Bahamaidan, vice president for the military sector.