MITEF KSA to mentor entrepreneurs in Riyadh

A workshop held by MITEF encourages male and female entrepreneurs to interact, discuss and participate in programs and competitions that would enrich the entrepreneurship environment in Saudi Arabia.
Updated 25 November 2019

MITEF KSA to mentor entrepreneurs in Riyadh

Within Riyadh Season, the MIT Enterprise Forum (MITEF) Saudi Arabia is preparing to launch a special event for entrepreneurs from Nov. 27 to 30 at the Riyadh Front Mall, and from Dec. 8 to 20 at the Riyadh Boulevard. 

The objective is to create an interactive platform to connect innovative entrepreneurs with top industry experts to coach and help them launch and develop their projects, and to foster the entrepreneurship culture in Saudi Arabia, in partnership with the nonprofit organization Tasamy, which will provide insights and mentorship for social enterprise ventures. 

MITEF aims to attract male and female entrepreneurs, university students and anyone interested in entrepreneurship in the Kingdom. It encourages them to interact, discuss and participate in programs and competitions that would enrich the entrepreneurship environment in Saudi Arabia. 

The event has three zones: The Dream zone for young entrepreneurs who need mentoring and coaching to translate their ideas into real projects; the Start zone for sharing successful startup stories; and the Inspire zone focusing on successful startups that aim to effect a substantial positive impact in society.

“By holding this event, MITEF Saudi Arabia aims to support Saudi youth to develop their ideas into real projects that help drive economic progress, promote the entrepreneurship culture, and inspire innovation across all business sectors within Saudi Arabia in line with Vision 2030. We cordially invite and welcome all entrepreneurs and stakeholders to participate in this week-long event at the Riyadh Front Mall and the Riyadh Boulevard to share ideas and discuss potential projects and opportunities. So, don’t miss it,” said Bayan Abdullah Algamdi, head of entrepreneurship programs at MITEF Saudi.

MITEF, part of MIT Enterprise Forum global network, in collaboration with Bab Rizq Jameel, an initiative of Community Jameel, has announced its fourth annual edition of the Saudi Startup Competition. Registration is open for all Saudi and non-Saudi entrepreneurs from all age-groups and business sectors on the official website of the competition and will continue until Dec. 21. The nine winning teams will be invited to participate in the 13th edition of MITEF Arab Startup Competition and awarded cash prizes totaling more than SR325,000 ($86,660).

MIT Enterprise Forum (MITEF) Saudi Arabia is part of a global network of chapters dedicated to the promotion of entrepreneurship and innovation worldwide. MITEF aims to inform, connect, and coach Saudi entrepreneurs — enabling them to transform ideas into world-changing companies.

Founded in 2015, MITEF aims to celebrate and support all potential startups and entrepreneurs in the Kingdom through the startups competition.


SAGIA, Xylem ink $50m MoU to advance water security

Updated 05 December 2019

SAGIA, Xylem ink $50m MoU to advance water security

Water technology firm Xylem has signed an MoU with the Saudi Arabian General Investment Authority (SAGIA), representing an investment of $50 million. The agreement aims to expand Xylem’s manufacturing footprint into the Kingdom, and to better serve its portfolio of customers in Saudi Arabia and across the region.

Under the MoU, Xylem will work with SAGIA to develop and localize advanced water and wastewater products and technologies to address water challenges in Saudi Arabia, as well as increase its footprint of service points and rental fleets across the Kingdom. A core objective of the MoU is to accelerate adoption of digital water solutions and optimize utility networks across the Kingdom.

The proposed multimillion-dollar investment will not only help build a vibrant local supply chain, but also see Xylem bringing additional commercial opportunities into the Kingdom, with the wider aim of improving water solutions locally. The agreement is in line with the goals of Saudi Vision 2030 to promote economic diversification through investments in localization that will also contribute to the export of “Made in Saudi” products across the world.

The MoU was signed on the sidelines of the Future Investment Initiative (FII), commonly known as the “Davos in the Desert,” by Ibrahim A. Al-Omar, governor of SAGIA, and Steven Leung, senior vice president and president, emerging markets of Xylem, in the presence of senior officials of both entities and Frank Ackland, managing director Xylem Middle East.

Al-Omar said: “As Saudi Arabia welcomes investors and decision-makers from across the globe to this annual global investment platform, the agreements exchanged here reflect the strength and diversity of the economy. Under Saudi Vision 2030, Saudi Arabia is undergoing an ambitious program of economic reform, and the world is taking notice. This month, Saudi Arabia climbed 30 places in the World Bank’s Doing Business 2020 report, becoming the most improved economy globally. The indicators are
clear: Saudi Arabia is not only open for business, it’s the economy of the future.”

Leung added: “As Xylem continues to lead the water sector’s digital transformation globally, this MoU presents an opportunity to leverage our market-leading portfolio and application expertise to advance water security in Saudi Arabia. Through our investment of $50 million, and with our strong presence in Saudi Arabia, backed by our dedicated office and team, we are committed to creating in-Kingdom value through our investments and partnerships. We are thankful to SAGIA for the opportunity to directly contribute our expertise to the development vision of the leadership, as the Kingdom embarks on its ambitious transformation program.”