The Centennial Fund (TCF) and Microsoft have signed a memorandum of understanding (MOU) recently, under which the two organizations agreed to collaborate on improving IT enablement of SMEs (small and medium enterprises) associated with TCF.

The MoU was signed in the presence of Abdul Aziz Almutairi, GM of TCF, Samir Noman, president of Microsoft Arabia, and Jean-Philippe Courtois, president of Microsoft International.

Samir Noman president of Microsoft Arabia, said, “We applaud the vision of Custodian of the Two Holy Mosques King Abdullah to diversify the Kingdom’s economy and promote entrepreneurship.”

He congratulated TCF for benefiting as many as 9,000 young Saudi men and women, and also for receiving recognition from the Clinton Global Initiative for its efforts to promote SMEs.

“This will help SMEs not only take advantage of the latest software and programs offered by Microsoft such as Office 365 and BizSpark, but also equip them to use the software to enhance their business through website development, collaboration and other activities,” he added.

He stated that Microsoft understands the challenges facing entrepreneurs and is committed to working with TCF on promoting IT solutions that address these challenges.

Al-Mutairi said, “The youth are the future of our nation and their projects at both the individual and collective levels are the fuel that drives the nation forward to be among the leading countries in all fields.”

Speaking at the joint event, Jean-Philippe Courtois, president of Microsoft International, said, “Young entrepreneurs will drive the future of economic growth in the Kingdom. This significant announcement demonstrates Microsoft’s continued commitment to helping unlock the tremendous potential of Saudi youth through ongoing investment and the provision of powerful IT services,” he said.