‘Embrace risk,’ Saudi Arabia’s new entrepreneurs urged

Think global, stay local was the message at a conference at Dar Al-Hekmah University in Jeddah. (Shutterstock)
Updated 04 May 2018

‘Embrace risk,’ Saudi Arabia’s new entrepreneurs urged

  • Prof. William Kerr: Saudi Arabia appears to be at a wonderful turning point where bringing entrepreneurship and enabling its growth will make a more vibrant society and also improve the local economy
  • Kerr works with companies around the world on the development of new ventures and transformations to ensure profitable growth

JEDDAH: Saudi entrepreneurs were urged to “think global, stay local” during a conference address at Dar Al-Hekmah University.

Prof. William Kerr, who chairs Harvard University’s Launching New Ventures program, told an international research forum that risk-taking was an important quality for entrepreneurs. 

“Don’t try to pick a winner,” he said. “Reduce the cost for the global network and for entry in Saudi Arabia, and build greater rewards and better competition.”

Kerr works with companies around the world on the development of new ventures and transformations to ensure profitable growth. 

Later, he told Arab News: “Saudi Arabia appears to be at a wonderful turning point where bringing entrepreneurship and enabling its growth will make a more vibrant society and also improve the local economy.

“Entrepreneurship doesn’t operate by itself, so the question is what do you give to the entrepreneurs? If you give them access to the market and reduce the cost of entering a business or competing with big companies, then we can expect lots of economic growth.

“One should learn from examples and others’ experience. Female entrepreneurs, in particular, should look for female role models.

“It can be a lonely business for any entrepreneur, so look for mentors’ support and work hard.”

Shatha Abu Al-Faraj, of Dar Al-Hekma University, addressed a class at the conference on “digital design process and digital fabrication techniques for teaching product design.”

“Digital fabrication is a new field in Saudi Arabia now that we live in a fast-paced era. Everyone should be able keep up with the technology,” she told Arab News.

“I am not only teaching big things, I want to teach a stay-at-home woman how to design things as simple as jewelry. By graphic designing, you can design your own jewelry and wear exactly what you desire. Of course, interior design and furniture design will also be easy.” 

Visiting scholars were taken on a tour of Dukkan Dar Al-Hekma, a shop stocked with high-quality products made by university students.


OIC, Arab Parliament condemn latest Houthi drone attack toward Saudi Arabia

OIC Secretary-General Yousef bin Ahmed Al-Othaimeen. (AFP)
Updated 07 August 2020

OIC, Arab Parliament condemn latest Houthi drone attack toward Saudi Arabia

  • The attacks posed a threat to regional and international security and undermined political efforts to make the Stockholm Agreement succeed

RIYADH: The Organization of Islamic Cooperation (OIC) on Friday condemned a Houthi drone attack targeted toward Saudi Arabia.

The Saudi-backed Arab coalition forces supporting the legitimate government in Yemen intercepted and shot down a bomb-laden unmanned aerial vehicle launched by the Iranian-backed militia group on Thursday.

OIC Secretary-General Dr. Yousef Al-Othaimeen called for the full implementation of the Stockholm Agreement while condemning the Houthis’ continued use of Hodeidah governorate as a staging point for the launch of terrorist operations involving ballistic missiles and drones.

He said the attacks posed a threat to regional and international security and undermined political efforts to make the Stockholm Agreement succeed.

Meanwhile, the chairman of the Arab Parliament, Dr. Mishaal bin Fahm Al-Salami, urged the international community to take a decisive stance against the Iranian regime which, he said, intentionally contravened UN Security Council resolutions by providing the Houthis with weapons and advanced military technology to target neighboring countries.