Saudi figure skater nurtures Olympic dream

Malak Al-Shaya says when in the ice rink everything feels ‘magical’ around her. (Photo/Supplied)
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Updated 04 August 2020

Saudi figure skater nurtures Olympic dream

  • The 13-year-old hopes to emulate the Russian figure skaters Elena Radionova and Alexandra Trusova

JEDDAH: A Saudi teen who picked up ice skating three years ago at a friend’s birthday party is now dreaming of taking part in the Olympic Games.

“It all started at my friend’s birthday party three years ago where we ice skated and I fell in love with the sport. I started going every day after that. My mom signed me up for classes when she saw my love for the sport,” Malak Al-Shaya told Arab News.
She said: “My mom was the one that encouraged me. At that birthday party, my mom and the coach said I was a natural because I just went for it.”
She came 4th at the Houston Invitational 2020 in March. She said that she will work harder next year to win first place.
The 13-year-old hopes to emulate the Russian figure skaters Elena Radionova and Alexandra Trusova who inspired her and even to get to the Olympics.
“I’ll work on ice and off ice. I want to be like Alexandra Trusova, who makes it look so elegant,” she said.

Gliding on the ice, Al-Shaya said she feels like everything is “magical.”
The young figure skater is aware that the sport is not the most popular in the Kingdom, but she encourages those wishing to master it.
“Just go for it. If you are willing to work hard you can achieve anything,” she said.
She has received a lot of encouragement on social media to pursue her passion in figure skating.
Al-Shaya’s mother, Eman Al-Damegh, shared her daughter’s love story. “At that birthday party, it was the first time Malak ever ice skated. After that, my kids used to ask me to take them ice skating every day,” she said.

FASTFACT

• Malak Al-Shaya won 4th place at the Houston Invitational 2020.

• Al-Shaya started ice skating three years ago.

• The teen’s coach says her speed is impressive, and it takes them years to teach a student to reach the speed that she is naturally able to control comfortably.

She said that her daughter came from a background, which lacked the facilities for the sport, but was “a natural” straightaway.
“She had never been ice skating before, she started it at such a young age. We used to live in Qassim where there were no ice skating arenas at all,” said Al-Damegh.
She added: “The moment Malak set foot inside the rink, she just took off. I was so surprised, she didn’t hesitate at all, she was so daring that day. And there I was wondering what would happen on ice (before she started).”
According to her proud mother, Al-Shaya has all the capabilities required for this sport and possesses the sense of daringness that skating requires.
The teen’s coach told Al-Damegh that her daughter’s speed was impressive, adding that it takes them years to teach a student to reach the speed that she is “naturally able to control comfortably.”


Saudi investors share expertise on Saudi corporate VC opportunities

Updated 27 November 2020

Saudi investors share expertise on Saudi corporate VC opportunities

JEDDAH: The two-day Step Saudi 2020 event featured two prominent Saudi figures in the field of investment on the second day.
Hashim Al-Awadi, CEO of Tech Invest, and Salman Jaffery, chief investment officer at Saudi Aramco Entrepreneurship Ventures, both shared their expertise, with the latter saying it is more beneficial for corporations to start a venture capital (VC) arm than invest from their current mergers and acquisitions arm (M&A).
Managing partner at Class 5 Global, Zach Finkelstein, who moderated the session on the second day of the event, said the San Francisco-based venture fund invested in a number of companies in the Middle East.
“The Middle East is particularly interesting to us, and in the past, our partners have invested in such regional companies as Careem. We’re excited to explore the development of the corporate VC space and how it can impact places like Saudi Arabia,” he added.
When asked why a corporation should start a VC arm instead of investing from an M&A team, and why have a separate corporate Venture Capital arm in the first place, Jaffery answered that “it brings faster results.”
“I think the easiest answer to that is just speed and agility,” he said. “Getting that response quickly to the market. VC deals can take weeks or months whereas an M&A transaction can take up to a year or longer, and also similarly, if you’re trying to then come out of it, it’s harder to come out of a joint venture agreement or an M&A as opposed to a VC.”
Al-Awadi explained his opinion a traditional VC perspective, and said: “We like the fact that corporations can invest from both their M&A arms and their VC arms if they have them.”
He highlighted that VC arms can invest in a greater variety of companies. “You have the intelligence, you know the market and if you’re looking at specific technology where we don’t have a lot of expertise we trust that you (other venture capitalists) know the market and you can evaluate that technology better to see if it has the capability and potential for growth or not.
“Eventually, you do have an M&A arm that will provide an exit for us, for an incentive for this company to work hard to grasp the intention after having been invested in by the VC arm of this big corporate to maybe look into making a partial agreement or complete acquisition, which really adds an incentive for the company to grow and attracts other investors and also attracts talent to join the company and help it grow even more.”
He said both the VC and M&A arm are important for company growth. “We tend to look at corporate investors through both arms as complementary to what we do when we have both of them around.”
The Kingdom has obtained a high reputation among investors internationally through the years, especially after the economic and social reforms of Saudi Vision 2030.
Step Saudi is home to the Kingdom’s best entrepreneurs, investors, creatives and digital enthusiasts. The last edition of Step Saudi featured four content tracks, more than 100 startups and over 1,500 attendees.