Saudi Arabia to Launch Entrepreneurship University


Saudi officials have recently announced plans to establish the Prince Mohammed bin Salman College of Business and Entrepreneurship under the auspices of the King Abdullah Economic City (KAEC).

The Mohammed bin Salman Foundation (MISK) has signed a cooperative agreement with Babson College and Lockheed Martin to develop the first undergraduate and postgraduate degrees in entrepreneurship in Saudi Arabia.

Following Deputy Crown Prince Mohammed bin Salman’s visit to the US in June 2016, MISK Secretary-General Bader Al-Asaker signed the memorandum of understanding alongside Babson President Dr. Kerry Healey and KAEC Managing Director Fahd Al-Rasheed.

The college will offer students the opportunity to engage in hands-on research and business development ventures, providing valuable experience that will lead to a career in entrepreneurship after graduation.

“The partnership between MISK and KAEC is an important contributor to the development of the business sector, thanks to its role in supporting and recruiting major institutions that help young Saudis hone their professional skills,” said Al-Rasheed, following the signing of the agreement.

“The university,” stated Al-Rasheed, will “play a key role in supporting and developing business sectors that encourage initiatives in education and other sectors that help young Saudis.”

Vision 2030 To Develop Entrepreneurship Opportunities For Saudi Youth

As part of the Kingdom’s sweeping Vision 2030 reforms, the government has detailed a plan to partner with the private sector in order to align higher education outcomes with job market needs.

Collaboration between MISK, Lockheed Martin, and Babson follows the Kingdom’s pledge to invest in strategic partnerships in a number of educational fields, increasing student engagement in diverse university specializations. The Saudi government is expected to expand monitoring and evaluation capabilities to ensure that all students receive an internationally-competitive education that will prepare them for employment in the public and private sectors.

Under the global economic framework of Vision 2030, the Kingdom aims to foster innovation among local entrepreneurs through the creation of the Small and Medium Enterprises Authority to facilitate international cooperation and market access for young Saudis.

YOU MIGHT ALSO LIKE

Now Online: April Edition of the Saudi Arabia in Focus Newsletter
April 28, 2017
Nu online: De laatste editie van de Focus op Saoedi-Arabië maandelijkse nieuwsbrief in het Nederlands
April 14, 2017
Now Online: January Edition of the Saudi Arabia in Focus Newsletter
February 01, 2017
Cabinet approves an ambitious new housing project
January 17, 2017
Now online: September Edition of Saudi Arabia In Focus Newsletter
September 27, 2016
HRH Prince Mohammed bin Salman presents Vision 2030 at G20 summit in China
September 03, 2016
Now online: August Edition of Saudi Arabia In Focus Newsletter
August 31, 2016
Energy Minister Al-Falih on oil, energy and Saudi’s Vision 2030
July 12, 2016
Deputy Crown Prince Mohammed bin Salman and UNESCO Director-General discuss Cultural Heritage & Education and Vision 2030
July 01, 2016