Saudi - Emirati Cooperation to Encourage Start-ups and Support Innovative Projects

Press photo / captionAl Sahhaf and Al Shezawi During the signing of the MoU

Riyadh: 01 October 2017 - The King Abdulaziz City For Science and Technology, (KACST), represented by Badir Program for Technology Incubators , has signed a Memorandum of Understanding (MoU) with the UAE Ministry of Economy, represented by the organizing committee of the AIM Startup Forum, which coincides with the Annual Investment Forum 2018 that will be held in Dubai in early April next year.

The MoU, which aims to enhancing bilateral cooperation and encouraging ambitious investments and innovative projects in Saudi Arabia and UAE, was signed by Nawaf Al Sahhaf, CEO of Badir program and Dawood Al Shezawi, Chief Executive Officer of AIM Startup

AIM Startup is a platform where disruptive startups from across the world gather to present their groundbreaking products or services on a truly global stage. AIM Startup was launched in 2017 as an initiative of the UAE Ministry of Economy to connect promising startups with investors and business partners from other parts of the world.

This year, 200 promising startups will convene under one roof to meet with investors, corporates, government representatives and industry experts and will be given the opportunity to demo their groundbreaking solutions to a global audience of more than 20,000 people.

Under the MoU, the organizing committee of the 2nd edition of the AIM Startup Forum, with the support and sponsorship of the Badir program, plans to launch three competitions at the end of November in Riyadh, Jeddah and Dhahran to identify and select leading companies in the Kingdom and facilitate their participation at this world-class event, which will host a number of decision-makers, experts, officials and key investment players from around the world.

Commenting on the MoU, Nawaf Al Sahhaf, CEO of Badir Technology Incubator, said: “This forum is an excellent platform and an ideal opportunity for start-ups in Saudi Arabia to showcase their projects and present their ideas to international investors seeking profitable and sustainable investment opportunities”.

“We take pride in supporting this annual event in cooperation with the Organizing Committee. We are also delighted to participate in the competitive presentations to be launched in three Saudi cities to select Saudi start-ups able to participate in the forum and to provide them with the opportunity of presenting their products and services to investors, major companies, industry experts and government officials”, he added.

Dawood Al Shezawi, Chief Executive Officer of AIM Startup , declared: “We are delightful to have forged this new partnership and signed the cooperation agreement with Badir in Saudi Arabia, reflecting the thriving relations between the UAE and Saudi Arabia, especially in the economic and direct investment fields. The participation, support and sponsorship of Badir program will enhance and add value to the promotional tours and competitive presentations to be launched in the Saudi market”.