Strategic cooperation signed to train & nurture entrepreneurs
JEDDAH - Young Saudis will soon be knocking at the gates of the IT world as a result of a strategic partnership forged between Knowledge Economic City Al Madinah (KEC), and Microsoft.
"KEC Al Madinah is the new base for Knowledge Based Industries and spreading knowledge," Tahir Bawazir, CEO, KEC, told reporters at the press conference on the occasion of the signing of the strategic partnership agreement between the two major companies, today (Feb 25). The accord was signed by Bawazir on behalf of KEC, and Dr. Khaled Al Dhaher, General Manager for Microsoft in Saudi Arabia.
Ambition and vision are to be fused together in keeping with the reality that is KEC, and meet an important aspect of the City. "The important thing about today's announcement is really the beginning of a very strategic collaboration to bring the value of leading edge technology to the region", said Mohammed Shah, Chief Technology Officer, KEC.
The main highlights of the partnership include establishing a Microsoft academy to train Saudis on the basic utilization of technology. Complimenting this academy will be the establishment of a Microsoft Library with IT books, trial software and other learning material. The agreement will also drive the formation of incubators to provide young entrepreneurs with an encouraging environment to establish healthy and promising businesses and thrive within a knowledge economy.
Upon signing the agreement Dr. Al-Dhaher said: "At Microsoft, we have always believed that one of the most important aspects of technology is its potential to help create social and economic opportunities. This strategic partnership with KEC will help propel local scientific and technological innovation as new ideas create new businesses and new jobs, improve productivity, and enhance human welfare. Building local capacity for innovation and entrepreneurship is essential for people of Saudi Arabia to participate in the success of a Knowledge Economy."
"With the help of Microsoft, one of the world's leading software solutions providers, KEC will become a new hub where future innovators will be able to develop their ideas, grow, and become tomorrow's scientists and technology leaders of the Islamic world," enthused Bawazir.
The objective of incubators is to help young Saudis to be gainfully employed and contribute to the economic and technological growth and development of the country.
This is being made possible in Al Madinah - at the doorstep of the kingdom and the region -- to meet the growing demand for expertise in the field of IT in terms of technical qualifications.
The Microsoft Academy will comprise of experts made available through Microsoft's access to experts and a network of partners that they will be able to bring to operate the Academy.
As for incubators, young Saudis who have an entrepreneurial spirit, who are excited by research and development, who have a passion for using technology as a business base, will have sky as the limit. Even those who are already in business would be able to participate in incubator and research and development because every business wants to continuously innovate to stay competitive.
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About Knowledge Economic City Al Madinah (KEC)
The project is located at Al-Madinah, the home of the Prophet (pbuh) where the Holy Quran was compiled. The project has special significance for Muslims throughout the world because of its location. KEC Al Madinah is located approximately 5 KM to the east of Al Haram and 7 km from the airport.
KEC Madinah is one of four economic cities being developed in Saudi Arabia to boost regional development and provide employment for the country's growing population by focusing on Intellectual Property, Knowledge-Based Industries, Medical, Hospitality, Tourism and Multi-Media.
Knowledge Economic City is designed as a project that will position Saudi Arabia and young Saudi Arabian entrepreneurs as internationally respected leaders in knowledge based industries and aims to attract and develop talent from around the world. It will provide them with opportunities on a global scale while providing investors and entrepreneurs with infrastructure, opportunity, a unique pool of talent and the potential for a healthy return on investment.
More than 20,000 jobs and accommodation for about 150,000 people will be created by the project, which will have an aggregated investment of more than SR30 billion and take up to 12 years to complete. KEC will include the Taiba Technological and Economic Information Centre, an interactive museum on the Prophet's (pbuh) life as well as a centre for medical studies, biosciences and integrated medical services.
© Press Release 2008
