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KAUST start-up companies take to the stage at the Entrepreneurship World Cup taking place at King Abdullah Economic City (KAEC).
THUWAL, SAUDI ARABIA, 7 July 2019: Five King Abdullah University of Science and Technology (KAUST) startups secured wins at the Misk Entrepreneurship World Cup (EWC) that took place recently at Mohammad bin Salman College (MBSC).
The five winners, who were each awarded US$50,000, are graduates of KAUST's own entrepreneurship programs, including the TAQADAM Startup Accelerator in partnership with Saudi Arabian British Bank (SABB), and the 9/10ths Accelerator, a joint partnership with Takamol.
The five winners were:
Left to Right: Jonathan Ortmans, President of Global Entrepreneurship Network; Kevin Cullen, Vice President for Innovation and Economic Development at KAUST; Wael Kabli, Founder and CEO at Cura; Shaima Hamidaddin, Executive Manager at Misk Global Forum.
Highlighting the important role that KAUST played in supporting their technology venture, Mustafa Mousa, CEO of Sadeem, said, "We were four KAUST researchers with a dream of making the world safer from flooding. Three years later and we are actively deployed globally in six cities, raising our Series A funding, and have an R&D lab at KAUST where we have been able to build new product lines." Mousa added, "Winning at the Saudi finals of the Entrepreneurship World Cup means we have an opportunity to pitch on a global stage and really show the strength of the Middle East's startups."
At the EWC Saudi final, the KAUST Entrepreneurship Center hosted a workshop entitled "Hack the Future: Spark Your Next Tech Startup" in which over 20 participants developed startup ideas using disruptive technologies like 3-D printing and virtual reality. KAUST will now host the five winning startup finalists on-campus in Thuwal during a week-long bootcamp as preparation for the Entrepreneurship World Cup Global Finals, to be held at the Misk Global Forum's annual meeting in Riyadh in November. The startups will hone their competitive edge during intensive mentorship, prototyping, and pitch sessions.
The success of KAUST startups at the EWC are a testament to the university's long history in driving entrepreneurship in the Kingdom. In the past decade, KAUST established an investment fund and entrepreneurship training center resulting in a network of 206 startups supported through mentorship, grant funding and access to laboratory and prototyping space. The university also plays a critical role in funding deep technology, with seed and early-stage investments in 56 projects.
King Abdullah University for Science and Technology (KAUST) is an international, graduate-level research university dedicated to inspiring a new age of scientific achievement in Saudi Arabia and around the globe. KAUST's pioneering structure of academic divisions and interdisciplinary research centers enable top researchers to work together to solve challenging scientific and technological issues. As part of our mission, we aim to help great entrepreneurial ideas succeed by supporting a network of startups, entrepreneurs and investors.
The Misk Global Forum (MGF) is the flagship international platform of the Misk Foundation, a non-profit philanthropic foundation established by Saudi Arabia's Crown Prince Mohammed bin Salman to discover, develop and empower Saudi young people to become active participants in the knowledge economy. Launched in 2016, MGF takes Misk's mission onto the world stage, helping young people to realize their potential in the future economy and become active global citizens. Through international events, partnerships, and initiatives, MGF brings together emerging and established leaders, innovators, and creators to explore, experience and experiment with ways to meet the challenge of change.